US-China trade talks: what's under debate
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Beijing: US and Chinese officials wrapped up days of trade talks in Beijing on Friday with plans to resume negotiations in Washington this week as the world's top two economies try to smooth out their thorny trade dispute.
US President Donald Trump said the talks were going "extremely well", while his advisors deep in the details warned there was still "much work" to do.
Beijing and Washington have already imposed duties on more than $360 billion in two-way trade, which are weighing on their manufacturing sectors and have shaken global financial markets.
Trump has said he may extend a March 1 deadline after which tariffs on $200 billion worth of Chinese goods are set to more than double.
Here is a breakdown of the main sticking points:
- IP theft & tech transfer -
Washington contends Beijing has encouraged theft of American intellectual property while forcing US companies to turn over trade secrets for market access.
Beijing has long denied the charges but is working to step up punishments for IP theft, fast tracking a new foreign investment law which explicitly bans forced technology transfer.
It is also gradually increasing the scope of industries where foreign firms can operate without a Chinese joint venture partner.
It is unclear if the moves will be enough to appease the Trump Administration. The FBI recently said it is investigating Chinese economic espionage across the US while the Justice Department is leading a name, shame and prosecute campaign against Chinese spying and theft.
US prosecutors recently ensnared Chinese tech giant Huawei with charges of trade secret theft, including an alleged programme to reward technology theft from rivals.
APP/AFP
