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- U.S., China are said to be drafting memorandums for possible trade deal
U.S., China are said to be drafting memorandums for possible trade deal
Sources familiar with the talks told Reuters that the U.S. and Chinese negotiators are working on six memorandums of understanding (MOUs) on structural issues, including forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade.
The sides are also discussing a 10-item list of shorter-term measures, mainly purchases of commodities and other goods.
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 noted, 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.
Chinese Commerce Ministry spokesman Gao Feng declined to comment on the MOUs.
Top U.S. and Chinese trade officials will hold high-level talks on Thursday and Friday in Washington.
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