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U.S., China fail to agree on trade issues, casting doubt on other issues
Source: Reuters
#BUSINESS NEWS
JULY 19, 2017 / 1:23 AM / 15 MINUTES AGO
U.S., China fail to agree on trade issues, casting doubt on other issues
David Lawder and Lesley Wroughton
WASHINGTON (Reuters) - The United States and China failed on Wednesday to agree on major new steps to reduce the U.S. trade deficit with China, casting doubt over President Donald Trump's economic and security relations with Beijing.
The annual economic dialogue session in Washington ended with canceled news conferences, no joint statement and no new announcements on U.S. market access to China.
The two sides had a "frank exchange" but failed to agree on most major bilateral trade and economic issues that were important to the United States, a senior U.S. official said on condition of anonymity because he was not authorized to speak publicly.
These included U.S. demands for access to China's financial services markets, reducing excess Chinese steel capacity, reductions in auto tariffs, cutting subsidies for state-owned enterprises, ending Chinese requirements for data localization and lifting ownership caps for foreign firms in China, the official said.
-snip-
JULY 19, 2017 / 1:23 AM / 15 MINUTES AGO
U.S., China fail to agree on trade issues, casting doubt on other issues
David Lawder and Lesley Wroughton
WASHINGTON (Reuters) - The United States and China failed on Wednesday to agree on major new steps to reduce the U.S. trade deficit with China, casting doubt over President Donald Trump's economic and security relations with Beijing.
The annual economic dialogue session in Washington ended with canceled news conferences, no joint statement and no new announcements on U.S. market access to China.
The two sides had a "frank exchange" but failed to agree on most major bilateral trade and economic issues that were important to the United States, a senior U.S. official said on condition of anonymity because he was not authorized to speak publicly.
These included U.S. demands for access to China's financial services markets, reducing excess Chinese steel capacity, reductions in auto tariffs, cutting subsidies for state-owned enterprises, ending Chinese requirements for data localization and lifting ownership caps for foreign firms in China, the official said.
-snip-
Read more: http://www.reuters.com/article/us-usa-china-trade-idUSKBN1A40BN