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U.S.-China trade talks resume next week, focus on intellectual property

U.S.-China trade talks resume next week, focus on intellectual property

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WASHINGTON (Reuters) – U.S. negotiators are getting ready to press China subsequent week on longstanding calls for that it reform the way it treats American corporations’ mental property in an effort to seal a commerce deal that might forestall tariffs from rising on Chinese language imports.

FILE PHOTO – A employee locations U.S. and China flags close to the Forbidden Metropolis forward of a go to by U.S. President Donald Trump to Beijing, in Beijing, China November eight, 2017. REUTERS/Damir Sagolj

A brand new spherical of commerce talks begins in Beijing on Monday, after the latest set of negotiations concluded in Washington final week and not using a deal and with the highest U.S. negotiator declaring that much more work wanted to be accomplished.

A White Home official mentioned on Friday that preparations have been underneath approach and the talks would proceed to give attention to urgent Beijing to make structural reforms.

The White Home introduced a timeframe for the Beijing talks in a press release. It mentioned lower-level officers will kick off the conferences on Monday, led on the American facet by Deputy U.S. Commerce Consultant Jeffrey Gerrish.

Greater principal-level talks will happen Thursday and Friday with U.S. Commerce Consultant Robert Lighthizer and Treasury Secretary Steven Mnuchin.

Lighthizer, named by Trump to spearhead the method after agreeing a 90-day truce within the commerce warfare with Beijing, has been a powerful proponent of pushing China to make such reforms and finish what the US views as unfair commerce practices together with stealing mental property and forcing U.S. corporations to share their expertise with Chinese language corporations.

China has denied it engages in such practices.

“The US is a good producer of expertise, and innovation, and know-how, and commerce secrets and techniques. And now we have to function in an atmosphere the place these issues are protected,” Lighthizer mentioned final week after talks on the White Home.

“I’m in no way predicting success; there’s a variety of work that needs to be accomplished,” he mentioned.

The 2 sides are attempting to hammer out a deal forward of the March 1 deadline when U.S. tariffs on $200 billion value of Chinese language imports are scheduled to extend to 25 p.c from 10 p.c.

China’s Commerce Ministry mentioned in a press release on Saturday that the 2 international locations would have a “additional deep dialogue on problems with mutual concern” on the idea of what they talked about on the final spherical of talks in Washington. It gave no particulars.

China’s ambassador to the US, Cui Tiankai, mentioned in Michigan on Friday “zero-sum recreation” mindset was harmful to China-U.S. ties, the state-run information company Xinhua reported.

Chinese language and U.S. corporations ought to compete in addition to cooperate with one another, Cui mentioned.

“The actual story in enterprise isn’t that black and white,” the report quoted him as saying.

Trump mentioned on Thursday he didn’t plan to satisfy with Chinese language President Xi Jinping earlier than that deadline, dampening hopes commerce pact may very well be reached shortly.

“We’re listening to the listing of points the 2 presidents will finally should make selections on is being narrowed, in order that’s a sign that issues are being addressed. However we’re additionally listening to that there’s a variety of work to be accomplished,” mentioned Erin Ennis, senior vp of the US-China Enterprise Council, who says she has spoken with officers in each the US and China. “I don’t suppose both facet is anticipating a draft of one thing subsequent week.”

One other supply who had been briefed on the talks mentioned a variety of work additionally wanted to be accomplished on an enforcement mechanism for a possible deal.

“If there’s some indication that they’re making progress on subsidies, compelled tech switch and the constellation of points there and an enforcement mechanism, that might be attention-grabbing. The phrase popping out of this final spherical was that there was very restricted, measly progress on these points,” the supply mentioned.

Escalating tensions between the US and China have value each international locations billions of and roiled international monetary markets.

If the negotiations don’t progress sufficiently, the U.S. officers mentioned elevated tariffs will take impact.

Washington may agree to increase the deadline and not using a deal if talks are progressing. Trump mentioned final week he didn’t suppose the deadline would have to be prolonged, although he mentioned a deal won’t be on paper by then.

Reporting by Jeff Mason; further reporting by Chris Prentice and David Lawder in Washington and Ben Blanchard in Beijing; enhancing by David Gregorio/Sonya Hepinstall/Alexander Smith

Our Requirements:The Thomson Reuters Belief Ideas.

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