LONDON: Senior US and Chinese negotiators have agreed on a framework to move forward on trade talks after a series of disputes had threatened to derail them, Chinese state media said Wednesday.
\nThe announcement followed two days of talks in the British capital that ended late Tuesday.
\nThe disputes had shaken a fragile truce reached in Geneva last month, leading to a phone call last week between President Donald Trump and Chinese leader Xi Jinping to try to calm the waters.
\nLi Chenggang, a vice minister of commerce and China\u2019s international trade representative, said the two sides had agreed in principle on a framework for implementing the consensus reached between the two leaders and at the talks on Geneva, the official Xinhua News Agency said.
\nFurther details, including any plans for a potential next round of talks, were not immediately available.
\nLi and Wang Wentao, China\u2019s commerce minister, were part of the delegation led by Vice Premier He Lifeng. They met with US Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer at Lancaster House, a 200-year-old mansion near Buckingham Palace.
\nWendy Cutler, a former US trade negotiator, said the disputes had frittered away 30 of the 90 days the two sides have to try to resolve their disputes.
\nThey had agreed in Geneva to a 90-day suspension of most of the 100 percent-plus tariffs they had imposed on each other in an escalating trade war that had sparked fears of recession.
\n\u201cThe US and China lost valuable time in restoring their Geneva agreements,\u201d said Cutler, now vice president at the Asia Society Policy Institute. \u201cNow, only sixty days remain to address issues of concern, including unfair trade practices, excess capacity, transshipment and fentanyl.\u201d
\nSince the Geneva talks, the US and China have exchanged angry words over advanced semiconductors that power artificial intelligence, visas for Chinese students at American universities and rare earth minerals that are vital to carmakers and other industries.
\nChina, the world\u2019s biggest producer of rare earths, has signaled it may ease export restrictions it placed on the elements in April. The restrictions alarmed automakers around the world who rely on them. Beijing, in turn, wants the US to lift restrictions on Chinese access to the technology used to make advanced semiconductors.
\nCutler said it would be unprecedented for the US to negotiate on its export controls, which she described as an irritant that China has been raising for nearly 20 years.
\n\u201cBy doing so, the US has opened a door for China to insist on adding export controls to future negotiating agendas,\u201d she said.
\nTrump said earlier that he wants to \u201copen up China,\u201d the world\u2019s dominant manufacturer, to US products.
\n\u201cIf we don\u2019t open up China, maybe we won\u2019t do anything,\u201d Trump said at the White House. \u201cBut we want to open up China.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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