‘Like pulling teeth’: In trade talks, China and US said to be far apart on structural changes by Beijing
- China has proposed parallel talks aimed at resolving Huawei CFO’s extradition case, sources say
- Reform verification mechanism could be a stumbling block in ending the trade war
Chinese and American trade negotiators remain far apart on key issues, including a US demand to ensure Beijing honours any commitment to equal market access and intellectual property protection – an issue Washington sees as crucial in reaching a deal to end the trade war, sources said on Thursday.
“There are already significant doubts about what China is putting on the table,” one of the sources, who is familiar with negotiations, told the South China Morning Post. Over the course of trade talks, China has been recycling the same sort of offers like a “broken record”, the source said, adding that it was a “bad record” that no one on the US side wanted to listen to.
Beijing is offering only “cosmetic, non-impactful offers” on issues crucial to the US, such as industrial government subsidies, said the person, who likened the current negotiations in Beijing to “pulling teeth”.
China’s stonewalling on substantive issues has been met with frustration, said the source.
Negotiators are also discussing the possibility of eliminating the 10 per cent punitive tariffs Washington has imposed on US$200 billion of Chinese products, while leaving the 25 per cent tariffs on US$50 billion of Chinese imports unchanged, two other sources said.