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US-China Trade Talks Wrap Up As Hopes Of A Deal Build

9 Jan 2019 3:10 pm
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NEW DELHI (Commoditiescontrol) - The United States and China have concluded their trade talks in Beijing on Wednesday that lasted longer than expected and officials said details will be released soon, raising hopes an all-out trade war that could badly disrupt the global economy can be avoided.

Both countries have been engaged in a tense sparring of tariffs, targeting billions of dollars’ worth of imports in each other’s economies with levies.

The talks were extended into an unscheduled third day, showing both sides were "serious", China's Foreign Ministry said.

Ted McKinney, US Under Secretary of Agriculture for Trade and Foreign Agricultural Affairs, said the US trade delegation would return to the United States later on Wednesday after a "good few days".

"I think they went just fine," McKinney said of the talks. "It's been a good one for us," he told reporters at the delegation's hotel, without elaborating.

Speaking at a daily news briefing, Chinese Foreign Ministry spokesman Lu Kang confirmed both sides had agreed to extend the talks beyond Monday and Tuesday as originally scheduled.

Asked if that meant they were difficult talks, Lu said: "I can only say that extending the consultations shows that the two sides were indeed very serious in conducting the consultations."

This week's meetings are the first face-to-face talks since US President Donald Trump and Chinese President Xi Jinping agreed in December to a 90-day truce in a trade war that has roiled global financial markets.

The extra day of talks came amid signs of progress on issues including purchases of US farm and energy commodities and increased access to China's markets.

(By Commoditiescontrol Bureau)


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