US, China make progress on structural issues, IP rights

Politics 1/10/2019, 9:34 AM
US, China make progress on structural issues, IP rights

Spokesman for the Chinese Ministry of Commerce Gao Feng said on Thursday that during the three-day talks, China and the United States made progress on structural issues such as forced technology transfer and intellectual property rights.

Asked why the negotiations were extended by a day, Gao said it was due to both sides being "serious and honest," but offered no insight into what they agreed upon. He added, however, that Washington and Beijing will push forward consultations as initially planned. The spokesman seized the opportunity to urge foreign auto makers to invest in China, noting that the country supports the strategy which "follows the principles of free trade set out by the WTO."

Earlier, the US side issued a statement which read that the negotiations centered on finding ways to achieve "fairness, reciprocity and balance in trade relations between the two countries." The Chinese Commerce Ministry then followed suit, issuing a statement in which it praised the outcome of this week's trade talks with the US, noting they "laid the foundations" for the resolution of the ongoing trade war between the two countries, but offered few details regarding next steps.

Breaking the News / GG