World markets and thousands of companies on both sides of the Atlantic breathed a sigh of relief as the United States and China seemingly are inching towards a trade deal after all.
Both the countries confirmed that they had ultimately managed to complete technical consultations on some parts of a trade agreement and the top trade representatives of both the countries - Chinese Vice Premier Liu He and trade officials from the US, had a telephonic conversation about the so called ‘phase 1’ of the trade deal.
The US trade team comprised of U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin and the telephonic conversation happened between them on Friday. This news was confirmed in a statement issued by the Ministry of Commerce of China on Saturday.
The core concerns over bilateral trade of the two countries would be addressed properly, the two parties agreed to such a pledge, said the Chinese Commerce Ministry in the statement.
The ministry statement also said that while a ban on the import of US poultry products would be lifted by China, the United States has has also pledged to make greater imports of cooked poultry and catfish products made in China/. The ministry statement also added that for all of the meat products, a system of public health information about the details of the product would be applied by both the countries.
Another round of discussions over the phone would soon be held between the top negotiators form the two countries, said the Chinese Commerce Ministry statement and added that such informal and formal negotiations would continue to he held between the negotiators.
According to the statement, the other participants in the phone call included Chinese Commerce Minister Zhong Shan, China’s central bank Governor Yi Gang, and the National Development and Reform Commission’s deputy head Ning Jizhe.
(Source:www.reuters.com)
Both the countries confirmed that they had ultimately managed to complete technical consultations on some parts of a trade agreement and the top trade representatives of both the countries - Chinese Vice Premier Liu He and trade officials from the US, had a telephonic conversation about the so called ‘phase 1’ of the trade deal.
The US trade team comprised of U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin and the telephonic conversation happened between them on Friday. This news was confirmed in a statement issued by the Ministry of Commerce of China on Saturday.
The core concerns over bilateral trade of the two countries would be addressed properly, the two parties agreed to such a pledge, said the Chinese Commerce Ministry in the statement.
The ministry statement also said that while a ban on the import of US poultry products would be lifted by China, the United States has has also pledged to make greater imports of cooked poultry and catfish products made in China/. The ministry statement also added that for all of the meat products, a system of public health information about the details of the product would be applied by both the countries.
Another round of discussions over the phone would soon be held between the top negotiators form the two countries, said the Chinese Commerce Ministry statement and added that such informal and formal negotiations would continue to he held between the negotiators.
According to the statement, the other participants in the phone call included Chinese Commerce Minister Zhong Shan, China’s central bank Governor Yi Gang, and the National Development and Reform Commission’s deputy head Ning Jizhe.
(Source:www.reuters.com)
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