US says progress. China says big issues.

China and US had ‘constructive discussions’ about phase-one trade deal, state media reports (

  • The two sides had “constructive discussions” about “each other’s core concerns” and agreed to remain in close contact, according to the Chinese Ministry of Commerce.
  • The call came at the request of Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer, the ministry said.
  • The Dow Jones Industrial Average closed at record highs Friday on renewed optimism about trade talks.

www.cnbc.com/amp/2019/11/17/china-and-us-had-constructive-discussions-about-phase-one-trade-deal.html

  • Two sides ‘not on the same page’ on issues such as the removal of tariffs, researcher says
  • Beijing will not buy agricultural goods it may not need ‘and definitely will not agree to it being written into a deal’, academic says

www.scmp.com/news/china/diplomacy/article/3038056/us-china-interim-trade-deal-hamstrung-fundamental-differences

In Chinese news talk “constructive discussion” basically means they talked more openly but couldn’t reach an agreement, so it’s “constructive” because more informed about each other’s position “will stay in contact”, means it will drag on for a bit.

 

AC