China says high-level trade talks with US have resumed

Under pressure to liberalise its economy China is making the right noises. But there are no free lunches

Under pressure to liberalise its economy China is making the right noises. But there are no free lunches

Trump has also threatened to impose tariffs on all remaining Chinese imports, about US$267 billion worth, if Beijing fails to address U.S. demands.

It was a good sign that Beijing had put something in writing after months of declining to do so, the official said, speaking to Reuters on condition of anonymity.

And in the best possible twist, Navarro will nearly surely escape once more, free to say something dangerously insane about China and Wall Street before being punished... "We didn't know that before but that's a certainty".

USA officials were still studying the list, which the official said was received on Monday night.

It responded to USA tariffs with its own protectionist measures and continues its multibillion-dollar One Belt investment program, which is meant to secure additional stable trade routes to its most important suppliers and customers.

It was too early to tell whether China's offer would be sufficient to preclude an increase in U.S. tariffs at the start of 2019, he said.

Xi and Trump are due to meet this month at a gathering of the Group of 20 major economies in Argentina.

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Vice President Mike Pence told The Washington Post newspaper the USA could make deals with China at the G-20 but Beijing must offer concessions on technology transfer, theft of intellectual property and other issues. It was unclear if the response contained concessions that would satisfy Trump's demands for change.

US-China Business Council president Craig Allen said last week that he thought it was likely that China would withdraw from any process set at the G20 if the Trump administration went forward with raising the tariff rate.

China's leaders agreed earlier to narrow their country's politically sensitive trade surplus with the United States but have rejected pressure to roll back plans for state-led development of Chinese champions in robotics and other industries.

Pence also said he believed that Beijing fully understands the U.S.'s position and the seriousness of its stance in the ongoing trade dispute.

The U.S. does not have a claim in the South China Sea, but the navy has conducted what it calls freedom of navigation operations, known as FONOPs, in the waterway.

The concessions listed by Pence, Woodward says, are a "complete fake". "If there is a deal to be had with China it's a deal that has to be in America's interests...."

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