Exclusive: China is ready for unprecedented concessions in trade negotiations – US officials

China US
File Indian Express

UNITED STATES (VOP TODAY NEWS) — China has made unprecedented proposals in trade negotiations with the United States on a number of issues, including the forced transfer of technology, US officials told Reuters on Wednesday.

According to officials, the parties continue to work to overcome the remaining obstacles to the deal, which should put an end to their protracted trade war.

US President Donald Trump last year imposed duties on Chinese imports totaling $ 250 billion in an attempt to force China to change its approach to doing business with the rest of the world and make the Chinese economy more open to American companies.

Among the demands that Trump made to Beijing is to end the practice, which, according to Washington, leads to the systematic theft of US intellectual property and the forced transfer of American technology to Chinese companies.

During the talks, China introduced a number of proposals that had not yet been put forward, including in the field of technology transfer, said one of the four high-ranking officials of the US administration, with whom Reuters spoke.

According to him, the negotiators have made progress in discussing the details of written agreements designed to eliminate US concerns.

“If you look at the texts of a month ago, then in comparison with today we have moved forward in all areas. However, we have not yet reached what we want to come,” said the official, who spoke on condition of anonymity.

“They talk about the forced transfer of technology in ways they never wanted to say before – both in terms of scope and specific conditions,” he said of the Chinese negotiators, refusing to provide more detailed information.

Reuters reported earlier, citing sources familiar with the negotiations, that the parties are developing written agreements in six areas: enforced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade.

US Trade Representative Robert Lighthizer and Finance Minister Stephen Mnuchin on Thursday arrived in Beijing to participate in the next round of trade negotiations with Chinese officials. Their goal is to negotiate a deal that will put an end to the trade war that has been going on for several months, costing both countries billions of dollars and hitting the growth of the global economy.

Negotiations will continue until there is progress in the discussion of key issues, the official said.

“They can go until May, June, no one knows. Perhaps this (the deal) will happen in April, we do not know,” said another representative of the US administration.

According to him, there are still differences between countries regarding the protection of intellectual property rights and how to enforce the transaction.

Trump said last week that Washington could save duties on Chinese goods for a “significant period” of time to ensure that Beijing’s potential trade agreement is respected.

This article is written and prepared by our foreign editors writing for VOP from different countries around the world – edited and published by VOP staff in our newsroom.

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