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Got indication from China they want to work on trade deal: WH

Got indication from China they want to work on trade deal: WH

By Lalit K Jha Washington, May 8 (PTI) The US has received an indication from China that Beijing wants to have a trade deal with the US, the White House said Wednesday, days after President Donald Trump threatened to raise tariffs on USD 200 billion worth of Chinese imports from 10 to 25 per cent.The 11th round of talks between China and the US are being held amid uncertainties about future rounds of parleys as Trump administration officials accused Beijing of back tracking from issues agreed in the previous rounds of talks."We've got an indication that they want to make a deal. Our teams are in continued to go. They're going to sit down tomorrow, and we'll see what happens," White House Press Secretary Sarah Sanders told reporters.She was responding to questions on the status of US-China trade negotiations, which appeared to have collapsed this week after President Trump announced on Sunday that he would raise to 25 per cent from 10 per cent the tariffs on the import of Chinese products worth USD 200 billion.China, as a reaction, initially decided against sending its envoy to the US for talks.But on Tuesday it said that the Vice Premier Liu He is headed to Washington DC for talks with the Americans.US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin alleged that China was going back on its commitment.On Wednesday Trump in a tweet alleged that China thinks that it will negotiate later after the 2020 presidential elections."The reason for the China pullback & attempted renegotiation of the Trade Deal is the sincere hope that they will be able to 'negotiate' with Joe Biden or one of the very weak Democrats, and thereby continue to ripoff the United States ((USD 500 billion a year)) for years to come...." Trump alleged."Guess what, that's not going to happen! China has just informed us that they (Vice-Premier) are now coming to the US to make a deal. We'll see, but I am very happy with over USD 100 Billion a year in Tariffs filling US coffers...great for US, not good for China!" Trump said.Trump is demanding China to reduce the USD 375 billion trade deficit. He also called for verifiable measures for protection of intellectual property rights (IPR), technology transfer and more access to American goods to Chinese markets.He has already increased the tariffs on over USD 250 billion Chinese exports to the US and threatened to extend tariffs on USD 200 billion Chinese imports to 25 per cent. China too slapped reciprocal tariffs on some US exports to the country.Trump recently hinted that Chinese President Xi Jinping could visit the US in June setting off speculation that both countries could work out a trade deal by next month.Media reports suggest that the two sides are still discussing key issues on structural issues, such as the US accusation of unfair subsidies in China, a mechanism to verify compliance and what to do with the tariffs the two have already imposed on each other's goods. PTI LKJ MRJMRJ