China has issued a list of concessions that it says can help deliver a “win-win” trade relationship with America. The list is part of a 117-page document released Thursday by the Ministry of Commerce. China would like to improve infrastructure cooperation with the U.S. and accept greater imports of goods ranging from soybeans to aircraft. The report acknowledges the Trump Administration’s grievances with China and with globalization, urging “balanced development” of trade ties in future talks. A 100-day review of the bilateral trade relationship is due to finish up in July.
A deal earlier this month allows more U.S. access into the Chinese market for beef, natural gas, and financial services. China would like to increase imports of agricultural products like soybeans and cotton. It would also like to speed up negotiations with the U.S. on traceability, inspection, and quarantine procedures on U.S. beef to be sold in the Chinese market. The 117-page paper could be seen as China indicating a more stable negotiating environment between the two countries.
In return, on the “ask” list, the report argues that the U.S. should stop using the so-called alternative state approach when calculating dumping margins in WTO trade disputes. That would be a big step that could push China toward being considered a market economy by its major trading partners.
Source: NAFB News Service