Chinese delegation expected in US for 13th round of trade talks

Darnell Taylor
October 7, 2019

Chinese and US flags flutter near The Bund, before USA trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019.

"What we're looking at, actually, is investor protection, USA investor protections. transparency and compliance with a number of laws", he said, citing complaints from exchanges.

The Chinese offshore yuan was down 0.2% against the dollar, a move some analysts said reflected worsening prospects of a breakthrough in trade relations with the U.S. The offshore yuan could reach a new low if there isn't a resolution in trade talks by the end of the year, according to MUFG analysts.

Shares in several USA -listed Chinese companies rose following Kudlow's comments, with Hangzhou, Zhejiang-based Alibaba up 1.55 per cent and JD.com and Baidu Inc up 0.41 per cent and 0.63 per cent, respectively.

The talks will focus on key areas where the Americans have made far reaching demands since previous year: intellectual property rights, the forced transfer of proprietary technologies, agriculture and enforcement, the statement said.

Vice Premier Liu He, who will lead negotiations for China, told dignitaries that his offer to the USA will not include commitments on reforming Chinese industrial policy or government subsidies, according to Bloomberg.

The talks are getting under way about a week before a scheduled increase -from 25 percent to 30 percent - in U.S. tariffs on $250bn worth of Chinese goods.

President Donald Trump wants to reach an agreement with the Chinese that reduces the massive trade imbalance between the two countries, which past year climbed to over $539 billion. These are among the Trump administration's main demands in the trade talks.

Global stock markets were mixed today as investors cautiously awaited the outcome of trade talks between the USA and China.

"Recently some of the statements coming out of Beijing have been a little more positive", White House Economic adviser Larry Kudlow told Fox News Channel, adding that the Chinese have also recently bought US pork and wheat.

US President Donald Trump has said the tariff increase will take effect if no progress is made in the negotiations.

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A strong jobs market would enable USA households to keep spending, supporting the economy at a time when slowing growth overseas poses a threat and President Donald Trump's trade war with China is sapping exports and manufacturing.

"We are open to a number of ideas, some may be short term, some may be long term", Kudlow later told reporters outside the White House on Monday.

ENERGY: Benchmark U.S. crude fell 11 cents to $52.50 a barrel.

"What we're looking at, actually, is investor protection, USA investor protections... transparency and compliance with a number of laws", he told reporters at the White House, citing complaints from exchanges.

Trade talks between the US and China are set to resume in Washington, D.C., on Thursday.

Trump also publicly asked China last week to investigate the Bidens.

Vice Premier Liu He, who will lead negotiations for China, told dignitaries that his offer to the USA will not include commitments on reforming Chinese industrial policy or government subsidies, Bloomberg reported Sunday, citing sources familiar with the matter.

Another complicating factor is United States support for pro-democracy protests in Hong Kong. S&P 500 futures also lost 0.2 percent to 2,946.

On the mainland, markets remained closed for yet another session for a public holiday, as did those over in the special administrative region of Hong Kong.

A new US-China flashpoint ignited on Monday over a tweet in support of Hong Kong protesters by an official of the National Basketball Association's Houston Rockets.

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