The U.S. Trade Representative said both parties have made progress and are committed to the agreement.
Negotiations were due to take place on 15 August but President Donald Trump has postponed them.
Mr. Trump said in a speech during an election campaign earlier this month.
He said, “I don’t want to speak to China right now.”
The U.S. Trade Representative’s statement also stated that the two parties had discussed intellectual property rights. And also, other issues that proved to be sticking points in negotiations over a two-phase deal.
“The parties addressed steps that China has taken to effectuate structural changes called for by the Agreement that will ensure greater protection for intellectual property rights, remove impediments to American companies in the areas of financial services and agriculture, and eliminate forced technology transfer.”
Political Drama is Still Going on
The timing could not have been more timely.
The U.S. Trade Representative and China abruptly called off scheduled negotiations just 10 days ago, designed to implement the “phase-one” trade deal.
No official reason for the postponement was given, although it had been claimed that it was to give Beijing more time to live up to its side of the deal and make more purchases of American grains and other products.
The pressure on Chinese companies from Washington has also come at a time when President Trump wants to show that he is tough on China. In contrast to ‘Beijing Biden’, as he and his supporters have called Joe Biden, who they say if elected would be softer on China than Mr. Trump.
Beijing watches carefully all this political drama in which it has become the main character-holding cards close to its chest.
In a short statement from the Chinese, all said “two sides agreed to build conditions and environment to continue moving the trade deal forward.”
That strategy makes sense: Beijing is under no illusion that Washington’s anti-China rhetoric will fade away any time soon.
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