Wilbur Ross Thinks China and U.S. Have a ‘Fair Chance’ To Succeed in Trade Talks Next Week

FROM EIR DAILY ALERT

Wilbur Ross Thinks China and U.S. Have a ‘Fair Chance’ To Succeed in Trade Talks Next Week

Jan. 24, 2019 (EIRNS)—U.S. Commerce Secretary Wilbur Ross said today that “I think there’s a fair chance we do get a deal,” at the Jan. 30-31 trade talks in Washington between the U.S. and China, although he added that not all disputes are likely to be resolved there, Reuters reported.

“There is a very large group coming. There’s been a lot of anticipatory work done, but we’re miles and miles from getting a resolution and frankly that shouldn’t be too surprising,” Ross said in an interview with CNBC.

“Trade is very complicated, there’s lots and lots of issues—not just how many soybeans and how much LNG, but even more importantly, structural reforms that we really think are needed in the Chinese economy, and then even more important than that, enforcement mechanisms and penalties for failure to adhere to whatever we agree to.”

Meanwhile, today China’s Commerce Ministry said Chinese Vice Premier Liu He will hold in-depth discussions on economic and trade issues during his visit to the United States next week. “During the upcoming high-level negotiations, both sides will continue to hold in-depth talks on various economic and trade issues of mutual concern,” Gao Feng, spokesman at the Commerce Ministry, told reporters.