The US and China have acknowledged that significant trade disputes remain, following two days of negotiations led by a high-level American delegation in Beijing, reported the Chinese state agency Xinhua on Friday.
‘Both sides acknowledged that there are still quite substantial disagreements on some issues and that it will be necessary to continue intensifying efforts in negotiations to achieve further progress,’ Xinhua reported, without providing details.
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The delegation led by US Treasury Secretary Steven Mnuchin was in Beijing on Thursday and Friday in an attempt to avoid a trade war between the two powers. The delegation is expected to leave the country on Friday evening.
A significant stake was at play, less than three weeks before the expected implementation of punitive tariffs by the US on about $50 billion of Chinese exports. Mnuchin’s delegation and Chinese Vice Premier Liu He, a close associate of President Xi Jinping, ‘had sincere, effective, and constructive discussions,’ the state agency reported.
