Donald Trump’s government is preparing to meet again next week again after the conclusion of first round of negotiations in the US-China Trade Talks.
In this round of negotiation with Beijing on the US-China Trade Talks, Donald Trump’s government failed to reach to a deal. The top negotiator of the United States had declared that a lot of work has to be done before striking a deal in the Trade Talks by both the governments.
US-China Trade Talks: Preparations underway
On Friday, an announcement was made by an official of the White House regarding the US-China Trade Talks that the preparations are underway.
The official further stated that the US-China Trade Talks would continue to focus on the urging China to make certain structural reforms.
US-China Trade Talks: Important topic of settlement
The negotiators of the United States will now be pressing China in the US-China Trade Talks to reform how the country treats the intellectual properties of the companies of America.
According to Lighthizer, US is a great producer of technology along with innovation and know-how. The list also contains trade secrets. Lighthizer said that the country must operate in an environment where all of these must be protected
This will be the core of the meeting. The Trade Talks begin on Monday. The topic is such so as to prevent the hiking of tariffs on the imports of China by sealing a trade deal.
Consequences of failing to reach to a conclusion
If the two countries fail to reach to a conclusion there will be no signing of a deal. If the trade deal isn’t signed in the Trade Talks next week, the tariffs on the Chinese imports will increase to 25 percent from the current rate of 10 percent.
The current worth of the imports from China is about US $200 billion.
Time-frame of the Session
The time-frame of the Trade Talks has been announced by an official recently. The session of the US-China Trade Talks will begin on Monday and will be led by Jeffrey Gerrish, Deputy U.S. Trade Representative on the side of the United States.
The talking in the US-China Trade Talks will continue on Thursday and Friday. The Trade Talks will be with Steven Mnuchin, the Treasury Secretary and Robert Lighthizer, the U.S. Trade Representative.
President Donald Trump has named Lighthizer to spearhead the entire process of the US-China Trade Talks. This was post-agreement of the 90-day truce on the trade war.