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China has submitted a written response to US demands for large-scale trade reforms, three government sources said Wednesday, an initiative that could trigger negotiations to end a devastating trade war between the world's largest economies.
US President Donald Trump has imposed a $ 250 billion tariff on Chinese imports to force Beijing to make concessions on the list of demands that would alter the terms of trade between the two countries. China reacted by applying import duties on US products.
Trump is expected to meet Chinese President Xi Jinping on the sidelines of the G20 summit in Argentina in late November and early December.
The US President has repeatedly protested against Beijing over the theft of intellectual property, subsidies to the industry, barriers to the entry of China by US companies and the US trade deficit with China.
Three US government sources told Reuters on Wednesday that China had sent a response to US requests on these and other issues.
The sources did not give any additional details on the content of the answer. It was unclear whether the answer contained concessions that would satisfy Trump's requests for change.
An American team led by US Treasury Under Secretary David Malpass on Tuesday videoconferenced a Chinese team with a Chinese team, a spokesman for the US Department of Finance said Wednesday.
The United States had stated that it would not start trade negotiations until it had seen China's concrete proposals to address its concerns.
Earlier this month, after a phone conversation with Xi, Trump said he thought the United States would conclude a trade deal with China, but was willing to impose more tariffs on Chinese products if no progress was made.
The rate of customs on the $ 200 billion of Chinese goods is expected to increase from 25% to 10% on January 1st. It is also threatened to impose tariffs on all remaining Chinese imports, valued at about $ 267 billion, if Beijing does not meet US demand.
The two countries resumed talks after the telephone conversation between the two leaders, ending a three-month hiatus in which relations were deteriorating, with the United States accusing China of interfering in domestic politics. from the United States and seeking to undermine Trump.
US Vice President Mike Pence said Tuesday that Beijing must change its behavior to avoid a new Cold War with the United States.
