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U.S. and China Trade Talks End Without Major Progress

Tuesday, June 5, 2018

(North American Meat Institute)

Negotiators from the U.S. and China reportedly made little progress on a host of trade issues after a series of talks in Beijing this weekend. Commerce Secretary Wilbur Ross led the U.S. delegation in a third round of negotiations aimed at quelling an escalating trade dispute between the world's two largest economies. Chinese officials, however, refused to commit to buying more U.S. goods without a Trump administration agreement not to impose further tariffs on Chinese exports. The meeting follows an announcement by the Trump administration to move ahead with plans to impose 25 percent tariffs on $50 billion worth of Chinese goods containing "industrially significant technology," including those products related to the 'Made in China 2025' program. The list of targeted goods will be announced by June 15 and imposed shortly thereafter. The administration also said new restrictions on Chinese investment and enhanced export controls will be announced by June 30, with implementation soon after, further complicating the prospects of an agreement with China.

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