MOFCOM: China Confident It Will Reach Agreement With US in 90 Days
DATE:  Dec 07 2018
/ SOURCE:  yicai

(Yicai Global) Dec. 7 -- China is confident it will reach an agreement on trade with the U.S. side in the next 90 days, a spokesperson of China's Ministry of Commerce (MOFCOM) said during Thursday's regular news briefing.

"The ultimate goal in China-U.S. trade talks is to remove all tariffs." MOFCOM spokesperson Gao Feng said.

The meeting between China and the U.S. on trade relations was very successful with highly overlapping interests between the two countries. Gao said.

"China has reached a consensus with the U.S. on agriculture, energy and cars. In the following 90 days, China and the U.S. will negotiate on various issues including the protection of intellectual property rights, technical cooperation, market access and trade balance in accordance with a clear timetable." said Gao Feng.

Specific negotiation areas will cover agricultural products, energy, manufactured goods, and service sector,according to Gao.

In response to query that China is currently making major concessions to Washington amid trade frictions, Gao noted that it is not a zero-sum game given shared desire of protecting intellectual property rights and widening market access to each other. 

"It also highly coincides with China's trend to deepen reforms and push for openness. China will conduct negotiations with the U.S. on the groundwork of mutual respect, equality and mutual benefit, as a way to foster better business climate for both sides." Gao said.

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