US-China Officials Begin Trade War Talks in Beijing

Business | January 7, 2019, Monday // 16:37| Views: | Comments: 0
Bulgaria: US-China Officials Begin Trade War Talks in Beijing

US and Chinese officials have been holding a first day of talks in Beijing aimed at resolving their damaging trade dispute, reports BBC

Last year, both countries imposed billions of dollars' worth of tariffs on each other's goods.

The two-day talks mark the first formal meeting since they agreed to refrain from any further tariffs for 90 days.

The meeting comes amid rising concern about the impact of trade tensions on the global economy.

The US delegation is led by Deputy US Trade Representative Jeffrey Gerrish.

So far, neither side has given any indication of how the talks are going.

However, a Chinese foreign ministry spokesman told reporters that his country had "the good faith, on the basis of mutual respect and equality, to resolve the bilateral trade frictions".

While the temporary truce has provided some relief, there is scepticism over the possibility of a breakthrough at the meeting in Beijing.

"There are concerns about how far apart the two sides still are," Julian Evans-Pritchard, economist at Capital Economics said.

"The main sticking point is going to be on industrial policy and intellectual property rights."

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