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11 May, 2019 08:36

‘Minor twists’ will not fully derail trade war talks with US – Beijing

‘Minor twists’ will not fully derail trade war talks with US – Beijing

China is “cautiously optimistic” about the future of trade talks with the US, Chinese Vice Premier Liu He has said after the latest round of talks failed to put an end to the trade row between the two parties.

Speaking to the media after the negotiations in Washington, the vice premier, who headed the national delegation, smoothed over the no-deal outcome, saying that the meeting was “candid and constructive.” The next consultations are set to take place in Beijing, but the timing is not yet clear.

“I don’t think our consultations have derailed,” Liu said, according to a video posted by Xinhua. “On the contrary, I think it’s quite normal, it’s inevitable to have minor twists and turns in negotiations between two countries.”

While the US and China managed to reach a consensus in some areas and clarified their positions, the official acknowledged that the two states “do have disagreements” on some major issues. For example, China opposes any additional tariffs and the sides have to hammer out the wording of the deal, according to Liu. Another key difference is China’s purchases of American goods, the South China Morning Post reported citing the negotiator.

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Beijing has to react to the US’ implementation of tariffs, Liu said, but still wants “a good agreement of cooperation with equality as a prerequisite.”

On Friday, the Trump administration hit China with an additional 15-percent tariff hike on $200 billion worth of goods, while further threatening a new increase to all of China’s remaining imports.

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