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7/29/2019, 6:44 AM (Source: TeleTrader)
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US, China don't expect breakthrough in trade talks - report

Neither side in the upcoming negotiations between the United States and China hopes for a major breakthrough during this round of the process, the Wall Street Journal reported. According to the sources familiar with the matter, the issue may not be resolved quickly, as both parties currently insist on issues over which trade talks already broke down in May.

Reportedly, these issues include intellectual property protection and Beijing's state subsidies to business for the US, and abolition of all tariffs as China's main demand. The media also indicate that the negotiations are being held in Shanghai as another signal which points towards lack of faith Beijing has in the upcoming trade talks session.

Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will conduct face-to-face talks with their Chinese counterparts on Tuesday.

Breaking the News / MA