BEIJING—U.S. and Chinese officials have made little progress in their latest round of trade talks, with disagreements over tariffs and intellectual property rights remaining major obstacles to a deal.
The two sides have been negotiating for months in an effort to resolve the ongoing trade dispute that has weighed on global markets since 2018. While both countries say they are committed to finding a resolution through dialogue, the lack of progress has raised concerns about the prospects for a deal.
"We are making progress, but we still have significant differences," said a U.S. official familiar with the talks, who wished not to be identified because they were not authorized to speak publicly about the negotiations.
China’s ambassador to Washington stated that "the trade war is not beneficial for either side," but emphasized that Beijing is willing to make concessions if there are corresponding actions from Washington. A senior Chinese diplomat expressed frustration over what he described as "unrealistic" demands from U.S. negotiators during recent talks in Beijing.
"We are willing to make concessions but need corresponding actions from the U.S., such as reducing tariffs on Chinese goods," said Zhang Jun, director-general of economic affairs at China’s Ministry of Foreign Affairs.
Background
- The trade dispute began in 2018 when President Donald Trump launched a campaign against China’s alleged unfair trading practices and theft of intellectual property rights (IPR).
- The United States has imposed tariffs on hundreds of billions of dollars’ worth of Chinese goods, while Beijing retaliated with its own set of tariffs targeting American products, including:
- Soybeans
- Pork meat products
Since then, both sides have been trying to reach an agreement despite several rounds of negotiations held since last year when Joe Biden took office. Some analysts believe the current administration might continue down the same path given past rhetoric regarding competition between world powers, especially concerning the technology sector.
Current Situation
In recent weeks, officials from both sides have met multiple times, including face-to-face meetings at lower levels, such as deputy assistant secretary level. However, higher-level discussions remain elusive. Sources indicate that there may soon come a time when leaders will engage directly again, hopefully paving the way toward a much-needed resolution.
Negotiations will continue next week, providing another opportunity for progress, given the increased willingness shown recently among key players involved.
As tensions remain high between Washington D.C.’s administration led by President Joe Biden and the Communist Party-controlled government headed by Xi Jinping, all eyes are closely watching developments unfold daily, hoping for a resolution that can bring an end to the prolonged standoff hurting economies worldwide.
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