China and US have ended up their trade discussions in Washington without any arrangement.
The countries cancelled their scheduled joint press conference and future meetings were cancelled.
The United State was critical of China’s trade excesses and urged for “more open” trade bargain.
In an opening statement to the annual China-US Comprehensive Economic Dialogue, the US Commerce Secretary Wilbur Ross spoke against China’s $347bn (£266bn) trade excesses with the US, stating that it was not based on market forces.
In a short report after the talks, the US Treasury Secretary Steven Mnuchin and Mr Ross gave some information on their discussion. He said: “China recognizes our common goal to lower the trade shortage which either side will operate hand in hand to resolve.”
A Chance For An Opening
Experts believe that there is an outside chance that the talks will bring out some reasonable trade deal that will suit both countries.
In addition to steel, the US is expected to clamp down on Beijing’s for state-owned firms. While China is expected to discuss the US’s refusal to sell valuable technology products to China.
It was not clear even if there were talks on China’s sanction on North Korea over its nuclear and missile program.
The US president, Mr Trump had earlier stated that China may get better trade agreement in exchange for aid on North Korea issues.
In May, the China and US arrived at a trade agreement that opens the Chinese market to US credit card firms and credit ratings organization…
China on its part cut a deal to lift its embargo on US beef imports and opened its ports to US shipments of liquefied natural gas.