China hopes for positive results from US talks at G20

Chinese and U.S. flags set up at China's Ministry of Transport in Beijing, China. [Photo: Reuters]

BEIJING - China is hoping for “positive results” in resolving a trade dispute with the United States at a G20 summit in Argentina, the commerce ministry said on Thursday, ahead of a closely watched meeting between the Chinese and US leaders.

US President Donald Trump and Chinese President Xi Jinping are due to hold trade talks on the sidelines of the G20 summit in Buenos Aires on Saturday.

Asked if China was seeking to prevent more US tariffs at the high-stakes meeting, the ministry’s spokesman, Gao Feng, said economic teams from both sides were in contact to implement a “consensus” reached by Trump and Xi in a phone call this month.

“I hope that the United States and China could move toward each other and work hard to achieve positive results in the meeting,” Gao said, without giving any details.

The United States has levied additional duties of between 10 percent and 25 percent on $250 billion of Chinese goods this year as punishment for what it calls China’s unfair trade practices, with the 10 percent tariffs set to rise to 25 percent next year.

A Reuters poll on Wednesday showed China’s factories likely struggled to grow for a second straight month in November as cooling demand at home and the threat of higher US tariffs stifled new orders.

“The Chinese side has repeatedly stressed that the essence of Sino-US economic and trade cooperation is about mutual benefit and win-win,” Gao said.