China, U.S. discuss 'past' and 'future' of trade talks

China and the U.S. discussed how to view the past and what to do in the future in the latest round of trade talks in Shanghai, said Gao Feng, spokesperson for the Chinese Ministry of Commerce, during a regular press conference in Beijing on Thursday, adding that the talks were "candid, efficient and constructive."

Chinese Vice Premier Liu He (C), U.S. Trade Representative Robert Lighthizer (R), and Treasury Secretary Steve Mnuchin pose for photos before holding talks at the Xijiao Conference Center in Shanghai on Wednesday, July 31, 2019. [Photo: AP via IC]

What did China and U.S. talk about?

The two sides discussed why previous negotiations were halted, clarified their views on certain economic and trade issues and discussed the principles and methods for future talks, Gao said.

The 12th round of economic and trade consultations between China and the U.S. was held in Shanghai on Tuesday and Wednesday. The two sides discussed China's increasing purchase of U.S. agricultural products and the U.S. creating favorable conditions for such a move.

The talks were jointly chaired by Chinese Vice Premier Liu He, also a member of the Political Bureau of the Communist Party of China Central Committee, U.S. Trade Representative Robert Lighthizer, and Treasury Secretary Steven Mnuchin.

Both sides will conduct intensive discussions in August in preparation for the next consultations to be held in the U.S. in September.

Delegations from China and the U.S. pose for a family photo during the 12th round of economic and trade consultations in Shanghai, July 31, 2019. /Xinhua Photo

Talks in Shanghai have provided a strong guarantee and created a favorable atmosphere for the smooth advancement of the China-U.S. high-level economic and trade consultations. As for the location of future consultations, the two sides will negotiate allowing for specific conditions, according to Gao.

Shanghai was the place where the 1972 China-U.S. joint communique was signed, exerting a unique role in the history of China-U.S. negotiations.

New progress made in purchasing U.S. agricultural produce

The spokesperson noted that since July 19 some Chinese companies, including both state-owned and private enterprises, have inquired with U.S. suppliers about purchasing soybeans, cotton, pork, sorghum and other agricultural products.

A batch of farm product procurement has been made based on market conditions while relevant enterprises have applied for exemptions from tariffs imposed on agricultural products imported from the United States.

The Customs Tariff Commission of the State Council is currently reviewing the applications following stipulated procedures, noted Gao.