China To “Immediately” Implement US Trade Truce Measures

China will immediately implement the consensus both sides, said commerce ministry spokesman Gao Feng.
Daily News Online
Updated: December 6, 2018, 05:17 PM IST
BEIJING: China today said it would “immediately” implement measures agreed under a trade war truce with the United States.
The commerce ministry’s remarks came days after US President Donald Trump and Chinese leader Xi Jinping agreed to give negotiators 90 days to resolve their trade spat.
Immediately Implement US Trade Truce Measures
China To Immediately Implement US Trade Truce Measures
Few details have been made public about what the two sides will negotiate, a lack of clarity that has unsettled stock markets.
“China will immediately implement the consensus both sides already reached on agricultural products, energy, autos and other specific items,” commerce ministry spokesman Gao Feng said at a regular press briefing.
The two sides will also discuss intellectual property protection, technology cooperation, market access and “fair trade”, and “work hard to reach a consensus”, Gao said.
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But the spokesman did not provide more specific details about what actions China will take.
The White House has said China consented to buy an “extremely considerable” measure of agrarian, vitality, industrial and other products to reduce the yawning trade gap. It likewise would start purchasing items from US ranchers “promptly”.
The opposite sides will likewise arrange “auxiliary changes” to constrained innovation exchange, licensed innovation assurance , cyber intrusions and cyber theft, services and agriculture, according to the White House.
For its part, China has said it will import more US products to reduce its trade surplus, but no dollar amount has been publicly discussed.
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Trump included China would move back duties of 40 percent on vehicles. It was unclear if Gao was referring to the tariffs in his remarks to reporters.
Gao’s briefing came hours after the trade detente risked being rattled by the arrest in Canada of a top executive from Chinese telecom giant Huawei at the request of the United States.

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