US bets on China’s special envoy in trade talks - WSJ

Dhwani Mehta FXStreet

The Wall Street Journal (WSJ) carries a story on Friday that is focused on the US-China trade talks, citing that the Chinese Vice-Premier Liu He is seen as crucial to ending the trade fight between China and the US.

Key Quotes:

“Trump administration is counting on the Chinese leader's special envoy, Liu He, to get Beijing to accept tough new strictures that are increasingly controversial in Beijing.

Liu-and his boss, President Xi Jinping-face powerful constituencies domestically that could hamper efforts to meet U.S. demands.

Deep gaps remain between U.S. and Chinese negotiators over some fundamental issues underlying the current bilateral trade tensions, according to people tracking the talks.

Chinese negotiators offered to stop providing government subsidies that distort prices and put Western rivals at a disadvantage, they haven't so far produced a list of subsidies they would be willing to eliminate, the people said. Instead, the Chinese side so far has focused its offer on greater purchases of U.S. agricultural and energy products such as soybeans, crude oil and liquefied natural gas, they said.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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