China says US trade talks ‘laid foundation’ to resolve concerns

BEIJING (AFP) – China said yesterday that trade talks in Beijing with a United States (US) negotiating team had “laid the foundation” to resolve concerns held by both sides in a bruising trade war.

US officials visited Beijing from Monday to Wednesday for the first sit-down talks since US President Donald Trump and Chinese leader Xi Jinping agreed on December 1 last year to a three-month truce in the escalating spat.

World markets rose last Wednesday on increasing optimism that the two sides would be able to hammer out a deal ahead of a March deadline and avert further import tariff hikes – though Asian stocks were mostly down yesterday.

China and the US “conducted extensive, in-depth and meticulous exchanges… which enhanced mutual understanding and laid the foundation for resolving issues of mutual concern,” the Chinese Commerce Ministry said in a statement.