China: Takeaway from the latest Sino-US talks - Nomura

The Sino-US economic and trade talks, held over 2-3 June by Chinese Vice Premier Liu He and U.S. Secretary of Commerce Wilbur Ross, ended in Beijing and no joint statement was released after the talk, notes the research team at Nomura.

Key Quotes

“As reported by China’s official Xinhua news agency, “to implement the consensus reached in Washington, the two sides have had good communication in various areas such as agriculture and energy, and have made positive and concrete progress while relevant details are yet to be confirmed by both sides”. China reiterated its willingness to “increase imports from other countries, including the US, to meet the people’s ever-growing needs for a better life and the requirements of high-quality economic development”, but it also warned that, “all economic and trade outcomes of the talks will not take effect if the US side imposes any trade sanctions including raising tariffs”.”