Vice-Ministerial Trade Talks between US and China end

[Washington / Chicago 20th Reuters]-On the 20th in the United States, the Chinese delegation suddenly stopped visiting the farms in Montana and Nebraska, scheduled for the following week, and the US-China trade agreement The expectation for waned.

Senior officials from the US and China finished the two-level trade talks held in Washington for two days.

According to an agricultural group in two states, the Chinese delegation stopped the inspection because it returned home earlier than originally planned.

The Chinese Embassy and USDA have not responded to requests for comment.

Before the start of this trade talk, it was reported that “provisional agreements” related to China's purchase of agricultural products and improved access to the Chinese market were being considered. [nL3N2633Y1]

Some farmers said that the inspection of farmers would lead to an increase in the purchase of US soybeans and pork by China, so the cancellation of the inspection became a disappointment with expectations for negotiations between the US and China, and US stocks fell.

On the 20th, the US Trade Representative (USTR) exempted customs duties on 437 Chinese products such as CG processors and flooring at the request of US companies.

The USTR issued a brief statement that it was “productive” for the two-day ministerial talks with the Chinese side, and that the ministerial trade talks would be held in Washington in October as scheduled.

The Chinese Ministry of Commerce also announced that the talks with the United States were “constructive” and had a good discussion about “details” for the October high-level meeting. “Both sides agreed to keep in touch on relevant matters,” but did not touch on details.

According to sources familiar with the recent US-China talks, the Chinese side did not offer new proposals on structural issues such as intellectual property rights, forced technology transfer, subsidies to industry, and other trade barriers. Like.

According to a number of sources, including this source, Ryo Bin, vice-minister, who served as the China representative for the deputy-level talks, should include any abolition of customs duties by the United States. Said the Chinese government demanded that the content should be balanced so that it would not make concessions.

<"Complete agreement">

US President Trump hopes for a “complete” trade agreement with China on the 20th, revealing that the purchase of US agricultural products by China alone is not enough to abolish sanctions tariffs.

President Trump said in a joint meeting with Australian Prime Minister Morrison during his visit to the United States, “The United States is seeking a full agreement, not a partial agreement.” “China resumed purchasing rice products last week and the purchase is very large, but what I am looking for is a bigger agreement,” he said.

He also said that there was no need to reach an agreement before the US presidential election next year.

Prime Minister Morrison commented that the trade agreement between the US and China would eliminate the uncertainty about the global economy.

Prior to the joint conference, President Trump said that "a lot of progress has been made" in trade negotiations with China. Also, in relation to the sanctions tariffs against China, the United States said that it has earned billions of dollars, and will eventually reach 100 billion dollars.

According to sources, the US is calling on China to significantly increase imports of rice agricultural products such as soybeans.