Update on Completed U.S./China Trade Talks; Impasse, Not a Breakdown

Posted on 05/10/2019 11:28 AM

China’s Liu says talks went 'fairly well' as Chinese team scheduled to return to Beijing


Sources provided the following updates on recently completed U.S./China trade talks in Washington today:

  • Only two hours of trade talks today. China officials are going back to Beijing at 4 p.m. ET.
  • Current situation is being called an impasse not a breakdown in talks.
  • China's Liu He smiled when he left the USTR office but unlike other times, Liu did not join President Trump in the Oval Office; he had lunch at a nearby Washington hotel. Liu said the talks went "fairly well" and there would be additional talks.
  • China's gov't issued a statement saying China hopes the U.S. will work with China and meet them half way.
  • No scheduled telephone/video call between President Trump and Chinese Leader Xi Jinping, yet. Some sources say a telephone call could take place yet today or this weekend.
  • With the impasse, both sides will now consider their next steps. 
  • President Trump earlier today said he was in no hurry to sign a trade deal. "We will continue to negotiate with China in the hopes that they do not again try to redo deal!" said Trump, who has accused Beijing of reneging on commitments it made during months of negotiations.
  • USTR Bob Lighthizer will not renegotiate what has already been agreed, but the two sides did talk about the "other 10%" that remains outstanding. 
  • Lighthizer and Treasury Secretary Steven Mnuchin now in White House briefing Trump and other White House officials. Mnuchin said today's talks were "constructive."

 

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