Sunday, June 16, 2019
Martin Hennecke

Sino-US trade talks report progress
China and the United States made progress during their recent trade talks over structural issues such as forced technology transfers and intellectual property rights, China's commerce ministry said yesterday. The three-day talks in Beijing that wrapped up on Wednesday were the first face-to-face negotiations since US President Donald Trump and his Chinese counterpart Xi Jinping met in Buenos Aires and agreed on a 90-day truce in a trade war. This week's talks were lengthy because both sides were serious and honest, the ministry's spokesman Gao Feng told reporters. Meanwhile, two of China's New York power players are pulling back from Trump - Trump Tower, that is. Big Chinese conglomerate, HNA Group Co, and China's biggest bank, Industrial & Commercial Bank of China (1398), plan to reduce space in Trump Tower when their leases run out, people with knowledge of the matter said, creating a potential headache for the Trump Organization. Trade talks between China and the United States this week were extensive, and helped establish a foundation for the resolution of each others' concerns, China's commerce ministry said yesterday. However, it gave no details on the issues at stake. Trump said on Twitter last night that "our country is doing so well in many ways," and mentioned again "trade deals great!" since yesterday. China has pledged to purchase "a substantial amount" of agricultural, energy and manufactured goods and services from the United States, the US Trade Representative's office said earlier, after US-China trade talks wrapped up in Beijing.

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