Chinese state media says any U.S.-China trade agreement must involve 'give and take'

Image
Reuters SHANGHAI
Last Updated : Jan 09 2019 | 6:05 AM IST

SHANGHAI (Reuters) - China is keen to put an end to its trade dispute with the United States but will not make any "unreasonable concessions" and any agreement must involve compromise on both sides, state newspaper the China Daily said on Wednesday.

U.S. and Chinese officials are conducting talks in Beijing, their first since U.S. President Donald Trump and Chinese President Xi Jinping agreed to a 90-day truce in a trade war that has roiled global financial markets.

The trade discussions, which began in Monday, are continuing into Wednesday for an unscheduled third day.

The China Daily said in an editorial Beijing's stance remains firm that the dispute harms both countries and disrupts the international trade order and supply chains.

"However, it has also made it clear that it will not seek a solution to the trade frictions by making unreasonable concessions, and any agreement has to involve give and take from both sides," it said.

Trump and other U.S. officials have said the talks were going well and there have been signs of progress on issues including purchases of U.S. farm and energy commodities and increased access to China's markets.

However, people familiar with the talks said the world's two largest economies were further apart on Chinese structural reforms that the Trump administration is demanding in order to stop alleged theft and forced transfer of U.S. technology and on how to hold Beijing to its promises.

(Reporting by Brenda Goh; Editing by Paul Tait)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 09 2019 | 5:58 AM IST

Next Story