China Outlines Possible Trade Concessions to U.S. Before G20
USAgNet - 11/16/2018
Chinese officials have outlined a series of potential concessions to the Trump administration for the first time since the summer as they continue to try to resolve a trade war between the world’s two largest economies, according to three people familiar with the
Bloomberg reports that the commitments for now fall short of the type of major structural reforms that President Donald Trump has been demanding, two of the people said, cautioning that a long road lies ahead in negotiations. One person said that talks are
continuing and constructive.
As a result, one of the people said, it raised doubts over how substantive a deal Trump could make with Chinese counterpart Xi Jinping when the two leaders meet later this month on the sidelines of the Group of 20 summit in Buenos Aires.
Most of the document appeared to be a rehash of previous changes already made by Beijing, such as raising equity caps on foreign investment in certain industries, according to one person. It did not contain the sort of commitment to change industrial policies
such as Xi’s “Made in China 2025” that Washington has been seeking, according to one person familiar with the discussions.
Two other people familiar with the talks also said the Chinese offer was a sign of what they characterized as constructive discussions between the two sides ahead of the planned G20 meeting between the two leaders.
A Treasury Department spokesman didn’t reply to an emailed request for comment.