MOSCOW (Pakistan Point News / Sputnik - 10th October, 2019) China and the United States have failed to achieve progress during their deputy-level trade talks, held by the sides in order to prepare for higher-level negotiations later this week, media reported on Thursday.
On Thursday and Friday, Beijing and Washington are set to engage in the trade talks, led by Vice-Premier Liu He on the Chinese side and Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on the US side. The talks are expected to be held just days before Washington's planned increase of trade tariffs on $250 billion worth of Chinese goods from 25 percent to 30 percent on October 15.
South China Morning Post reported, citing two informed sources, that the deputy level discussions were held on Monday and Tuesday in Washington and were led by Vice-Minister of Finance Liao Min from the Chinese side.
"They have made no progress," one of the sources familiar with the negotiations told the newspaper, adding that Beijing had failed to convince Washington that all additional trade duties against it should be frozen.
Another source, speaking on the condition of anonymity, told the outlet that forced technology transfers, meaning a requirement to surrender technologies to Chinese firms imposed on foreign companies willing to enter China's market, and state subsidies on the part of China had been cornerstones in the negotiations.
According to the outlet, the Chinese side focused on agricultural purchases and intellectual property protection during the talks earlier this week.
The reports added that the Chinese negotiators may leave the United States earlier than expected amid the lack of progress in the talks.
Meanwhile, US media reported on Thursday, citing the White House, that US presidential administration had not been aware of the reported change in Liu's plans.
A trade row between the world's two largest economies erupted in June 2018 when the United States imposed the first round of its additional trade duties on China prompting Beijing to respond in kind. Since then, the sides have exchanged several rounds of duties and are engaged in the talks to settle their disagreements.
