Much to be done on China trade: US Trade Rep Lighthizer

AFP  |  Washington 

Washington's on Wednesday said there remained much to do before reaching a new trade agreement with despite "real progress" so far.

After months of negotiating with Beijing, "now we are making real progress," US Trade said in congressional testimony.

However, "Much still needs to be done both before an agreement is reached, and more importantly after it is reached if one is reached."

Citing progress toward a new trade agreement with Beijing, on Sunday said he would postpone a sharp increase in US duties on USD 200 billion in Chinese imports while the two sides worked to reach an agreement.

Along with Japanese and European officials, the accuses of entrenched unfair trade practices, including massive state intervention in markets, subsidies and the theft of

Chinese officials have offered to increase purchases of American farm goods and but it remains unclear whether will give in to US demands for fundamental changes in industrial policy, which analysts say could weaken the communist party's power.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 28 2019. 01:10 IST