Exclusive: U.S., China sketch outlines of deal to end trade war - sources

Source: Reuters



FEBRUARY 20, 2019 / 9:46 PM / UPDATED 2 HOURS AGO

WASHINGTON (Reuters) - The United States and China have started to outline commitments in principle on the stickiest issues in their trade dispute, marking the most significant progress yet toward ending a seven-month trade war, according to sources familiar with the negotiations.

Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, according to two sources familiar with the progress of the talks.

At meetings between U.S. and Chinese officials last week in Beijing the two sides traded texts and worked on outlining obligations on paper, according to one of the sources.

The process has become a real trade negotiation, the source said, so much so that at the end of the week the participants considered staying in Beijing to keep working. Instead they agreed to take a few days off and reconvene in Washington.

Read more: https://www.reuters.com/article/us-usa-trade-china-deal-exclusive/exclusive-u-s-china-sketch-outlines-of-deal-to-end-trade-war-sources-idUSKCN1QA07U