BEIJING - China won't make big concessions to the US in order to seal a trade deal, former finance minister Lou Jiwei said in Beijing on Wednesday , calling some US demands for change"unreasonable."
The US wants China follow through on pledges ranging from better protecting intellectual-property rights to buying more American products before Trump removes additional tariffs on US$200 billion of Chinese goods. Sticking Points Lawmakers will vote on a foreign investment law next Friday which includes measures to protect the IP of foreign companies and ease pressure on them to transfer technology to local partners, an effort to address US concerns. Beijing has also already reportedly agreed to several conditions, including boosting its imports of agriculture goods and keeping the yuan stable, a commitment that could prove controversial.
A prospective deal can't put all the burden of proof that agreements are being carried out on Beijing, former Chinese officials with experience of dealing with the US have said, warning that the"strong enforcement language" Trump has pledged will be seen as unfair unless it also binds the US to address China's own grievances.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »