China pledges to buy 'substantial amount' of US goods: USTR

Ivan Schwartz
January 12, 2019

China has said it will not give up ground on issues that it perceives as core.

The Trump administration is even considering keeping current tariffs on Chinese goods in place until its government fulfills its trade pledges - such a move would force China to meet its side of the deal. Stocks are opening higher on Wall Street, putting the market on track for a fourth gain in a row.

The American delegation was led by one of Lighthizer's deputies, Jeffrey D. Gerrish.

Gao declined to provide details when asked about purchases on Thursday.

Trump hiked tariffs on $250 billion of Chinese goods over complaints Beijing steals or pressures companies to hand over technology.

The U.S. Trade Representative's office issued its own statement a day earlier, . and said China has pledged to purchase "a substantial amount" of agricultural, energy and manufactured goods and services from the U.S.

Ross said there was a "very good chance" of reaching an agreement, although monitoring compliance would present a challenge.

USA officials have long complained that China has failed to live up to trade promises, often citing Beijing's pledges to resume imports of American beef that took more than a decade to implement.

Share prices had risen Wednesday after President Donald Trump fueled optimism about possible progress by saying on Twitter talks were "going well!"

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As the Trump administration continues trade negotiations with China, the US delegation is taking additional steps to make sure the Communist country follows through on its pledges.

But Bonnie Glaser, a senior adviser at the Center for Strategic and International Studies, said the timing of the North Korean leader's arrival could be coincidental.

"There are a lot of different opinions and disputes, but both sides need these kind of collisions at this time, and to make known their demands, positions and views to the other party", he said, adding that the next round of talks would be about bridging these differences. -China Business Council in Beijing.

Asked for his reaction on the American ship sailing through the Paracel islands which China claims Xisha islands, Chinese Foreign Ministry spokesman Lu Kang said Beijing has lodged strong protest to the U.S. on this.

This week's talks went ahead despite tension over the arrest of a Chinese tech executive in Canada on USA charges related to possible violations of trade sanctions against Iran.

The US economy grew at an annual rate of 3.4 percent in the third quarter but surveys show consumer confidence weakening.

As for structural reforms that the USA side has requested: "at first, it seems like the being overbearing, but thinking carefully, these are actually what the deepening of "opening up reforms" needs"-referring to economic policies pushed by former Party leader Deng Xiaoping in the 1980s that introduced capitalist market forces to China".

A separate geopolitical issue angered China on Monday when a US Navy guided-missile destroyer sailed near disputed islands in the South China Sea - a vast expanse claimed by Beijing. The US action violated the global law and destroyed the peace, safety and order in the relevant waters.

Pacific Fleet spokeswoman Rachel McMarr said the FONOP patrols are meant to "demonstrate that the United States will fly, sail and operate wherever global law allows".

Other reports by GizPress

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