China Says Trade Talks With U.S. Concluded, Both Sides Serious

(Bloomberg) — China and the U.S. concluded trade talks that were extended by one day, and China will be releasing a statement soon on the result, a government spokesman said in Beijing.

The extension shows both sides are serious about negotiations, Chinese foreign ministry spokesman Lu Kang said after more than two days of trade talks. “A good result will not only benefit both China and the United States. I believe that it is also good news for the world economy,” he said.

The mid-level talks were the first face-to-face meeting between the two sides since both presidents met on Dec. 1. Prior to the meeting, China made a number of concessions to U.S. demands including temporarily cutting punitive tariffs on U.S.-made cars, resuming soybean purchases, promising to open up its markets for more foreign investment, and drafting a law to prevent forced technology transfers.

The negotiations were extended from the two days initially scheduled, according to the Chinese. President Donald Trump tweeted “Talks with China are going very well!” late on Tuesday in Beijing. Vice Premier Liu He, an economic aide to President Xi Jinping and the top negotiator on the Chinese side, made a brief appearance at the talks on Monday.

To contact Bloomberg News staff for this story: Dandan Li in Beijing at [email protected];Miao Han in Beijing at [email protected]

To contact the editors responsible for this story: Jeffrey Black at [email protected], James Mayger, Sharon Chen

©2019 Bloomberg L.P.

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