China/US trade talks spluttering

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SHANGHAI/BEIJING (Reuters) – Bilateral talks aimed at reducing the US trade deficit with China have yielded some initial deals, but US firms say much more needs to be done as a deadline for a 100-day action plan expired yesterday.

The negotiations, which started in April, have reopened China’s market to US beef after 14 years and prompted Chinese pledges to buy US liquefied natural gas. American firms have also been given access to some parts of China’s financial services sector.

More details on the 100-day plan are expected to be announced in the coming week as senior US and Chinese officials gather in Washington for annual bilateral economic talks, rebranded this year as the “US-China Comprehensive Economic Dialogue”.

“We hope to report further progress on the 100-day deliverables next week,” a US Commerce Department spokesman said.

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