China and the US yesterday concluded a new round of trade talks in Shanghai following a hiatus of almost three months, with little immediate evidence of progress being made toward ending their year-long dispute.
US delegates, including US Secretary of the Treasury Steven Mnuchin and US Trade Representative Robert Lighthizer, wrapped up talks with their Chinese counterparts, including Chinese Vice Premier Liu He (劉鶴), at the Xijiao State Guest Hotel, a leafy compound of luxury reception buildings and accommodation in the west of the port city, according to a pool report.
The US delegation was headed to the airport, the report said.
Photo: AP
The Americans arrived in Shanghai on Tuesday and attended a dinner at the Fairmont Peace Hotel in the evening.
A person familiar with the event described the atmosphere at the dinner as being all about rapport building without substance on negotiations.
Just as the dinner started, US President Donald Trump released a series of tweets lashing out at China for what he said is its unwillingness to buy US agricultural products and said it continues to “rip off” the US.
The People’s Daily, mouthpiece of the Chinese Communist Party, yesterday responded with a commentary saying that China has no motive to “rip off” the US and has never done so, and China would not make concessions against its principles on trade.
Relations between the delegates appeared cordial in Shanghai, the pool report said.
Chinese Minister of Commerce Zhong Shan (鍾山) played a more prominent role in the discussions than in previous rounds. His greater involvement had caused concerns among some US delegates, as he is perceived as tougher negotiator.
Expectations for a breakthrough in the trade talks have been low. The two sides are further apart than they were three months ago, when negotiations broke down and each side blamed the other for derailing attempts to reach a deal.
Data released yesterday showed that the outlook for China’s manufacturing sector brightening slightly, although the sector is still contracting.
The manufacturing purchasing managers’ index last month rose to 49.7, led by better conditions for large companies.
The below-50 reading still signals contraction, though is better than the median estimate of 49.6 in a survey of economists.
The non-manufacturing gauge fell to 53.7.
The Chinese government on Tuesday announced priorities for economic policy in the second half of the year, pledging to tackle tensions over trade “effectively,” while offering incremental additions to stimulus policies.
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