U.S.-China Trade Talks in Final Lap

U.S.-China Trade Talks in Final Lap

Talks between the U.S. and China are moving toward a final accord. The latest round of talks going so well the two sides are discussing whether to hold more in-person meetings.

Treasury Secretary Steven Mnuchin saying they are getting close to the final round of concluding issues.

Also, U.S. negotiators have reportedly tempered demands that China curbs industrial subsidies as a condition for a trade deal after strong resistance from Beijing.

A Chinese Commerce Ministry spokesman saying both sides will keep in close communication and “spare no efforts” to continue negotiation.

Last week, Bloomberg reporting one sticking point in the talks was China’s reluctance to give up control over its domestic grain stockpiles.

Gregg Doud, the chief agriculture negotiator for the U.S. Trade Representative, saying China subsidizes its domestic growers of corn and rice and that unfairly boosts supplies and limits imports.

USDA Secretary Sonny Perdue remains relatively optimistic a deal can be reached.

“Talks have been productive, and uh very direct about different issues,” says Ag Secretary Sonny Perdue. “I’m happy to see that Secretary Mnuchin feels the enforcement mechanisms which have been a concern have been resolved.”

Washington insiders tell us the bottom line in these recent trade talks is that both Washington and Beijing are offering a final round of concessions hoping they will lead to an agreement.

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