[180418.EN.BIZ] Sino-US Trade Talks Said to Have Stalled On Thorny High-tech Issues

US-CHINA trade talks appear to have stalled over high-tech issues, reports Bloomberg.

Beijing rejects a US demands that China stop subsidising industries related to its "Made in China 2025" initiative, Vice Premier Liu He reportedly told officials.

The Americans accuse China of using the policy to force companies into transferring technology in areas like robotics, aerospace and artificial intelligence.

The US demands came after Beijing offered to narrow the trade deficit by US$50 billion, including by importing more liquefied natural gas, agricultural products, semiconductors and luxury goods, said the report.

Another concession were plans to open the financial sector to give US companies greater access to China's booming e-commerce market.

China was open to talks with the US, but wouldn't initiate them under the current conditions, said the Bloomberg source.

A White House official who watched President Xi's speech welcomed his remarks on intellectual property while saying that actions speak louder than words.

The Trump administration, said the official, was unified in the view that US jobs were endangered by what it called China's forced technology transfers and state-directed intellectual property theft.

Source : HKSG.