US trade representative Robert Lighthizer (left), US Treasury Secretary Steven Mnuchin and Chinese Vice-Premier Liu He. Photo: AP
US demand that China commits to reforms in writing threatens to scupper trade talks
- Washington refuses to accept verbal assurances but China is reluctant to make further structural reforms
- Some government advisers in Beijing believe it would be better to accept higher tariffs than make ‘suicidal’ changes to country’s economic model
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US-China trade war
US trade representative Robert Lighthizer (left), US Treasury Secretary Steven Mnuchin and Chinese Vice-Premier Liu He. Photo: AP