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WASHINGTON – President Donald Trump expects to meet with his Chinese counterpart Xi Jinping to try to resolve a six-month trade standoff after U.S. and Chinese negotiators ended two days of talks Thursday without settling the toughest issues that divide the world’s two biggest economies.
The White House said in a statement that the two sides had made progress but that “much work remains to be done.” In the meantime, the administration said it would keep a “hard deadline” of March 2, at which point it would escalate import taxes on $200 billion in Chinese good if there was no deal.
The article goes on to state the following:
After the talks ended Thursday, Trump spoke glowingly of a Chinese commitment to buy more U.S. soybeans. But he acknowledged that he and Xi would have to reach a final agreement on the far more contentious technology issues. And Trump said that might require more than one meeting with Xi.
“There are some points we don’t agree to, but we will agree,” the president told reporters. “I think when Xi and I meet, every point will be agreed to.”
After the meeting, the White House released the following statement:
For the last two days, high-ranking officials from the United States and China have engaged in intense and productive negotiations over the economic relationship between our two countries. The United States appreciates the preparation, diligence, and professionalism shown throughout these meetings by Vice Premier Liu He and his team.
The talks covered a wide range of issues, including: (1) the ways in which United States companies are pressured to transfer technology to Chinese companies; (2) the need for stronger protection and enforcement of intellectual property rights in China; (3) the numerous tariff and non-tariff barriers faced by United States companies in China; (4) the harm resulting from China’s cyber-theft of United States commercial property; (5) how market-distorting forces, including subsidies and state-owned enterprises, can lead to excess capacity; (6) the need to remove market barriers and tariffs that limit United States sales of manufactured goods, services, and agriculture to China; and (7) the role of currencies in the United States–China trading relationship. The two sides also discussed the need to reduce the enormous and growing trade deficit that the United States has with China. The purchase of United States products by China from our farmers, ranchers, manufacturers, and businesses is a critical part of the negotiations.
The two sides showed a helpful willingness to engage on all major issues, and the negotiating sessions featured productive and technical discussions on how to resolve our differences. The United States is particularly focused on reaching meaningful commitments on structural issues and deficit reduction. Both parties have agreed that any resolution will be fully enforceable.
While progress has been made, much work remains to be done. President Donald J. Trump has reiterated that the 90-day process agreed to in Buenos Aires represents a hard deadline, and that United States tariffs will increase unless the United States and China reach a satisfactory outcome by March 1, 2019. The United States looks forward to further talks with China on these vital topics.
NEW: White House calls U.S.-China talks “intense and productive.”
— ABC News (@ABC) January 31, 2019
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