See More on Facebook

Business, Diplomacy

Talks calm trade climate for Beijing, Washington

For the trade war, more talks means less tension.


Written by

Updated: January 11, 2019

The latest round of vice-ministerial level trade talks between China and the United States, which concluded on Wednesday, have laid a foundation for addressing each other’s concerns, the Ministry of Commerce said on Thursday.

Both sides have actively implemented the significant consensus reached by their heads of state and conducted extensive, in-depth and detailed exchanges on trade and structural issues of common concern, Gao Feng, the ministry’s spokesman, said at a news briefing on Thursday.

The meetings between China and the US began on Monday in Beijing.

According to a statement released by the ministry on Thursday morning, the two sides improved mutual understanding.

Both sides agreed to continue to keep in close contact, the statement said.

On Dec 1, the top leaders of China and the US met on the sidelines of the G20 Leaders’ Summit in Buenos Aires, Argentina. They agreed to continue negotiations, suspend the imposition of new tariffs and exchange visits at an appropriate time.

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

Craig Allen, president of the US-China Business Council, said he was pleased that the two governments have had substantive discussions over the past three days and looked forward to hearing details about the negotiations.

Any agreement between the governments should include positive incentives, such as a mechanism for removing tariff hikes the two countries have imposed on each other, as progress is made in the talks, Allen said.

He said removal of those tariffs should be a priority to address the damage that has been done to US companies that depend on trade with China and to the US economy as a whole. The council will continue to work with both governments to encourage that result, he said.

China has already shown its determination to put its foreign trade on a firmer footing, said Wei Jianguo, vice-president of the China Center for International Economic Exchanges. The country also has increased moves to accelerate the pace of its reform and opening-up, especially to further safeguard intellectual property rights, expand market access, increase imports from the US and make the business environment even more transparent and fairer, Wei said.

“These moves are not only to respond to concerns from the US but also to realize the potential of high-level opening-up to the rest of the world,” he said. “China has always adopted an open stance toward solving trade disputes with the US. It has shown its sincerity in settling disputes through concrete measures.”

Trade volume between China and the US amounted to $582.8 billion between January and November last year, up 10.9 percent year-on-year, according to the General Administration of Customs.

To further improve the business environment, China has already removed the import license requirement for 118 products and 29 product restrictions on imports, said Song Xianmao, deputy director-general of the Foreign Trade Department at the Ministry of Commerce. It also has suspended export quotas for phosphorus ore and silver starting Jan 1, he said.

China’s imports are expected to exceed $2 trillion in 2018, which would be a record, Song said.



Enjoyed this story? Share it.


China Daily
About the Author: China Daily covers domestic and world news through nine print editions and digital media worldwide.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Business, Diplomacy

Diplomatic thaw prompted active inter-Korean exchanges in 2018

The number of South Koreans visiting the North and vice versa increased sharply to 7,498 in 2018 from 115 in 2017. South Korea greatly expanded exchanges and cooperation with North Korea last year, buoyed by a diplomatic thaw following three inter-Korean summits, according to a new white paper published by the Ministry of Unification on Thursday. The surge in visits was attributed to government initiatives to cooperate with the North on an inter-Korean railway connection project, a forestry project and various sports events. Social and cultural exchanges driven by civic groups and local governments also played a role, according to the 2019 White Paper on


By The Korea Herald
March 22, 2019

Business, Diplomacy

Italy to play a key role as Belt and Road opens new doors across globe

Italy will be a major part of China’s Belt and Road initiative. East-West relations have entered a new phase. Global integration, with sustained increases in crossborder exchanges of goods, technology, knowledge and resources, has reshaped international relations, spurring economic development of traditionally marginal regions and encouraging economic convergence among poorer and richer areas. The phenomenon has received great impetus from the possibilities offered by technological progress and the increase in physical and digital connectivity, strongly enhanced by the modernization and innovation efforts of Asian countries. What we have seen and are still seeing, indeed, is not a simple shift of production from the West to the East, but a real change in production models. The production and consumption of goods and services have followed value chains that are no longer confined to a local scale, but are


By China Daily
March 22, 2019

Business, Diplomacy

No sign of concrete policies for conflict in Thailand’s restive south

Parties offer few if any answers for a 15-year-old deadly insurgency that successive govts have failed to quell. Peace and conflict have never been significant parts of any political party platform in Thailand. This is because a sustainable solution calls for long-term commitment to a policy that could prove to be politically costly. Lasting peace requires self-reflection on the part of both the state and society. Policymakers have to rethink the policy of assimilation that has so far been rejected by the Malay Muslim populace of the southern border provinces because it comes at the expense of their cultural and religious identity. Full-fledged armed insurgency erupted in the far South in the 1960s, some 50 years after the signing of the Anglo-Siam Treaty that defined our current political borders. There was a brief calm in the 1990s, but the absence of violence did not mean peace. A new generat


By The Nation (Thailand)
March 22, 2019

Business, Diplomacy

Mahathir chairs economic meeting, cost of living takes centre stage

The Economic Action Council’s main aim is to spur and stimulate sustainable economic growth. Prime Minister Mahathir Mohamad chaired the first meeting of the  Economic Action Council (EAC), which had tackling the cost of living high on the agenda. The meeting on Wednesday (March 20) looked at measures to improve the living standards of the B40 group. The Economic Affairs Ministry, which acts as the secretariat to the EAC, said that three papers were presented by representatives from the ministry, as well as the Domestic Trade and Consumer Affairs Ministry. “Aside from the cost of living, the idea of social entrepreneurship as a platform to improve the livelihood of B40 households was also brought to the meeting’s attention, as well as the implementation of decisions made by the National Action Coun


By The Star
March 21, 2019

Business, Diplomacy

How competing masculinities inform Pak-India escalation

Devaluing the other in gender hierarchies often takes place through feminisation. Last month, tensions reigned high between neighbouring nuclear powers that share an ugly history of separation and bellicosity. Once more, India and Pakistan seemed to be at the brink of war. Airports were shut down, the Line of Control was violated, and de-escalation — especially in the newfound absence of dedicated third-party intervention — looked out of bounds for the most part. War-mongering through media outlets prevailed while fake and selective news circulated in this situation of crisis. Yet, it is baffling — if also not amusing — that even in such delicate moments, rhetoric of ‘putting them in their place’ was omnipresent on both sides. Similarly, a few months ago, when Prime Minister Imran Khan tweeted his disappointment regarding peace talks with India, he chastised that he ha


By Dawn
March 21, 2019

Business, Diplomacy

Moon holds meeting with US intelligence chief in Seoul

The meeting comes after the failed Hanoi summit between Trump and Kim. President Moon Jae-in on Wednesday met with US Director of National Intelligence Dan Coats in Seoul to discuss bilateral issues, Cheong Wa Dae said. According to Cheong Wa Dae spokesman Kim Eui-kyeom, Moon and Coats held an “in-depth and wide ranging discussion about current issues between South Korea and the US.” Coats’ visit is seen as aimed at sharing information and assessment of North Korea following the breakdown of last month’s summit between the two countries. Earlier, a local newspaper reported that Coats arrived at a US air base in Osan, south of Seoul,


By The Korea Herald
March 21, 2019