SHANGHAI (Reuters) – China is keen to put an end to its trade dispute with the United States but will not make any “unreasonable concessions” and any agreement must involve compromise on both sides, state newspaper the China Daily said on Wednesday. U.S. and Chinese officials are conducting talks in Beijing, their first since U.S.
This week’s meetings are the first face-to-face talks since U.S. President Donald Trump and Chinese President Xi Jinping agreed in December to a 90-day truce in a trade war that has roiled global financial markets.
Ted McKinney, U.S. Under Secretary of Agriculture for Trade and Foreign Agricultural Affairs, made the comments to reporters at the delegation’s hotel. “I think they went just fine,” McKinney said of the talks. “It’s been a good one for us,” he said without elaborating.
In what is widely seen as a goodwill gesture, China on Tuesday issued long-awaited approvals for the import of five genetically modified crops, which could boost its purchases of U.S. grains as farmers decide which crops to plant in the spring.
On Monday, Chinese importers made another large purchase of U.S. soybeans, their third in the past month.