China, US made ‘new progress’ in latest round of trade talks

China and the United States made 'new progress' in the round of trade talks that wrapped up on Friday in Washington, China›s official CCTV broadcaster reported late on Saturday.

The two sides discussed draft agreement text on issues including technology transfer, protection of intellectual property rights, services, agriculture, the bilateral trade balance, and an implementation system, and will continue to talk on remaining issues, the state broadcaster reported.

The two sides offered few details of the progress as Chinese Vice Premier Liu He concluded three days of meetings with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin in Washington. US President Donald Trump on Thursday said a deal could be announced in the next four weeks.

Washington and Beijing in 2018 slapped import duties on each other›s products that have cost the world›s two largest economies billions of dollars and disrupted manufacturing and supply chains. The United States is seeking reforms to Chinese practices that it says result in the theft of US intellectual property and the forced transfer of technology from US companies to Chinese firms. Significant work remains, and the principals, deputy ministers, and delegation members will be in continuous contact to resolve outstanding issues,» the USTR said in a statement.

Reuters