US, China could settle immediate trade issues, says Ross on CNBC

File picture shows Wilbur L. Ross, US Secretary of Commerce, attending the World Economic Forum annual meeting in Davos, Switzerland January 24, 2018. — Reuters pic
File picture shows Wilbur L. Ross, US Secretary of Commerce, attending the World Economic Forum annual meeting in Davos, Switzerland 24, 2018. — Reuters pic

WASHINGTON, Jan 7 — The United States and are likely to reach a good settlement over immediate trade issues while agreement on structural trade issues and enforcement will be harder, US Secretary of Commerce Wilbur Ross said today as US- trade talks resumed.

Ross, in an interview on CNBC, said the talks in Beijing would help determine whether trade differences between the world’s two largest could be resolved through negotiations.

“I think there’s a very good chance that we will get a reasonable settlement that China can live with, that we can live with and that addresses all of the key issues. And to me those are immediate trade. That’s probably the easiest one to solve,” Ross said.

US officials are meeting their counterparts this week for the first face-to-face talks since US President Donald Trump and President Xi Jinping agreed in December to a 90-day truce in a trade war that has roiled global markets.



It is unclear if Beijing will yield to key US demands over trade imbalances, market access, and more protection for intellectual property.

Trump said yesterday that trade talks with China were going very well and that weakness in the Chinese economy gave Beijing a reason to work toward a deal.

Even if a trade agreement is reached soon, analysts say it would be no panacea for China’s economy, which is expected to continue decelerating in coming months. — Reuters

Source: The Malay Mail Online





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