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Chinese Vice Foreign Minister: Progress Being Made In US-China Trade Talks

Chinese Vice Foreign Minister: Progress Being Made In US-China Trade Talks

The ongoing trade talks between the U.S. and China have seen some progress, Chinese vice foreign minister Le Yucheng said Tuesday, according to Reuters

“As long as we respect each other and seek equal cooperation, there are no disagreements that can’t be resolved between China and the U.S.”

What Happened 

Speaking at Xiangshan Forum in Beijing, the vice foreign minister said the world wants China and the United States to end the trade war.

“That [requires] openness rather than a 'de-coupling' of countries or a new Cold War.”

Chinese Vice Premier Liu He, who is said to be leading the trade negotiations with the U.S., has made similar remarks. 

"China and the U.S. have made substantial progress in many aspects, and laid an important foundation for a Phase One agreement,” he said at a technology conference in Nanchang, Jiangxi on Saturday, according to Bloomberg

Last week, China said that it wanted further talks on the Phase One trade deal set out by U.S. President Donald Trump before Chinese President Xi Jinping agrees to sign it.

What’s Next

Trump and Xi are expected to sign a trade deal during their meeting at the Asia-Pacific Economic Cooperation Forum in Santiago, Chile in early November.

China’s economy is in turmoil, as the country’s GDP growth fell to a 30-year low of 6% in the third quarter.

The Chinese Ministry of Industry and Information Technology said in a statement Tuesday that it will examine the U.S. list of companies, the so-called "entities," that have been sanctioned by the U.S., to look "at the trade friction between China and the United States with an open mind and a big heart.”

Posted-In: BloombergNews Politics Global Top Stories Markets Media General Best of Benzinga


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