China-US trade talks: both sides looking for compromise

Chinese delegation on trade and economic issues under Vice-Premier Liu He ended its visit to Washington. "According to mass media, China made certain concessions to America. Until 2024, Beijing is going to buy additional US goods worth more than $1 trillion and reduce the bilateral trade deficit to a minimum," RISS expert Vyacheslav Kholodkov said.

Liu He claimed that China would sign a major contract for the American soybeans purchase in the near future. China is planning to buy 5 million tons of this product per day. Now Beijin purchases about 90 million tons per year. It was also agreed to increase the US energy and industrial products purchasing. These measures will help to reduce the trade imbalance.

The solution to the trade deficit problem is only the first, short-term task of Washington in its trade war with Beijin, RISS expert underscored. The long-term goal is to stop the rapid scientific and technical development of China. Firstly, Americans demand protection of intellectual property. They also want to put an end to the theft of their technological secrets and the practice of forcing US companies to transfer technology when opening branches in China. The most important thing for them is to sharply reduce or even stop state subsidies to Chinese technology companies.

In particular, the expert is talking about Huawei and ZTE. These companies have achieved fantastic success in the telecommunications field, and their business is now experiencing aggressive attacks from the US, Canada, and the Czech Republic.

"The composition of the US delegation with China critics P.Navarro and R.Lightheiser should be considered as pressure on the Chinese side. In addition, the Americans put forward an ultimatum that the agreement should be concluded before March 1. Both parties are interested in reaching a compromise. I do not exclude that the two countries will be able to sign a trade and economic agreement before the expiration of the ultimatum," the analyst concluded.

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