China vows increased US imports, IP protection at trade talks

Published February 1, 2019, 12:00 AM

by manilabulletin_admin

By Agence France-Presse

BEIJING, China – China agreed to increase imports of US goods and boost cooperation on protecting intellectual property during trade talks in Washington, Beijing’s official news agency said Friday, February 1.

US Delegation, including US Trade Representative Robert Lighthizer (2nd R) and US Secretary of Commerce Wilbur Ross (R) talks with the Chinese Delegation including Vice Premier Liu He (2nd L) during US-China Trade Talks in Washington, DC, on January 30, 2019. - Top Chinese and US officials met Wednesday in Washington to negotiate a resolution on a dispute threatening to plunge the world's two largest economies into a deepening trade war. Chinese Vice Premier Liu He led the Chinese delegation to the talks taking place against a March deadline before Washington more than doubles tariffs on $200 billion in Chinese imports. (Photo by Jim WATSON / AFP)
US Delegation, including US Trade Representative Robert Lighthizer (2nd R) and US Secretary of Commerce Wilbur Ross (R) talks with the Chinese Delegation including Vice Premier Liu He (2nd L) during US-China Trade Talks in Washington, DC, on January 30, 2019. (Photo by Jim WATSON / AFP)

The two sides “attached great importance to the issues of intellectual property protection and technology transfer and agreed to further strengthen cooperation”, Xinhua said.

China also agreed to increase imports of “US agricultural products, energy products, industrial manufactured goods and service products” during the talks on Wednesday and Thursday, January 30 and 31, the report said.

The talks in Washington come as the end – March 1 – of the 90-day truce on US-China trade tariffs inches closer.

Last year, the Washington and Beijing imposed tariffs on more than $360 billion in two-way trade in a bruising war that has spooked markets worldwide.

US duty rates on $200 billion in Chinese goods are due to rise to 25% from 10% if no agreement is reached in time.

In addition to IP protection and boosting US imports, Chinese and American trade officials also agreed that “effective measures will be taken to promote the balanced development of Sino-US trade”, said Xinhua in its report.

 
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