US-China likely to “push forward” Phase One agreement after months of stalled talks
On Tuesday, top negotiators of the US-China trade talks decided to ‘push forward’ the phase one agreement. The two representatives who spoke over a call, discussed how the negotiations can be taken forward. The statement from the US Trade Representative said that the two sides had discussed intellectual property rights and other issues which were the key points in negotiations over a phase-two deal.
The statement read, “The parties addressed steps that China has taken to effectuate structural changes called for by the Agreement that will ensure greater protection for intellectual property rights, remove impediments to American companies in the areas of financial services and agriculture, and eliminate forced technology transfer.”
US said that both the nations “addressed steps that China has taken to effectuate structural changes called for by the agreement”. Those changes, it said, would “ensure greater protection for intellectual property rights, remove impediments to American companies in the areas of financial services and agriculture, and eliminate forced technology transfer”.
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It highlighted that both sides “see progress and are committed to taking the steps necessary to ensure the success of the agreement”. Beijing’s statement said a “constructive dialogue” between the two sides had “agreed to create conditions and atmosphere to continue to push forward the implementation of phase one of the China-US economic and trade agreement”.The phase one deal demanded “check-in” by officials every six months.
The talk between the world’s leading economies was to resume on August 15, but got delayed by 10 days. Though officially no reason was given for the postponement, although some reports hinted that it was done to give more time to Beijing to commit to its decided bargain and to import more of American agricultural produce including grains and other commodities.