Tag: trade relations
The two commodity heavyweights have set a target to double trade to US$50 bil in 2025.
US President Donald Trump has made it clear that trade is a top priority at a summit of leaders of Group of 20 nations.
China strongly opposes the United States and other countries imposing unilateral sanctions on Chinese entities such as Huawei, to avoid further impacting Sino-US trade relations.
The two sides discussed draft agreement text on issues including technology transfer and the protection of intellectual property rights.
The two leaders also discussed ways for New Zealand to participate in Beijing's Belt and Road Initiative.
Officials are seeking to iron out major differences over US accusations that China has been using unfair trade practices for years.
The two sides have slapped tariffs on hundreds of billions of dollars of goods since last year, hitting a slew of businesses in both countries.
The talks would likely focus on North Korea after Trump's failed meeting with North Korean leader Kim Jong Un.
Over the last eight months, the United States and China have slapped tariffs on more than US$360 billion in two-way goods trade.
The US will soon start negotiations to upgrade their agricultural trade pact and reduce barriers for American farm exports to the Middle Eastern country.
The suspension would take effect from Nov. 8, Fauziah A. Sani, head of trade strategy and security for the director-general of customs, said in the notice.