China has agreed to increase its imports of American agriculture and energy products and will seek to address U.S. concerns about protection of intellectual property (IP), according to a joint U.S.-China statement released by the White House.
“Both sides agreed on meaningful increases in United States agriculture and energy exports,” the statement said. “The United States will send a team to China to work out the details.”
The statement issued Saturday followed two days of talks that involved Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, U.S. Trade Representative Bob Lighthizer and a Chinese delegation led by State Council Vice Premier Liu He, a special envoy of President Xi Jinping.
The announcement followed China’s decision to end anti-dumping and countervailing duty cases involving American exports and a 179 percent tariff on U.S. sorghum.
The sorghum duties were seen as retaliation for recent U.S. tariffs on Chinese washing machines, solar cells and other goods. China announced that it would expand its retaliatory measures to include U.S. soybeans after President Donald Trump said he would impose tariffs on Chinese products as punishment for theft of U.S. intellectual property.
Saturday's joint statement provided little detail on how China would satisfy U.S. IP concerns.
“Both sides attach paramount importance to intellectual property protections, and agreed to strengthen cooperation. China will advance relevant amendments to its laws and regulations in this area, including the Patent Law,” the statement said.
The statement went on to say that the two countries “agreed to encourage two-way investment and to strive to create a fair, level playing field for competition. Both sides agreed to continue to engage at high levels on these issues and to seek to resolve their economic and trade concerns in a proactive manner.”
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