The first round of trade talks between China and the United States took place in Beijing on May 3-4. The two delegations addressed such issues as expanding US exports to China, bilateral trade in services, bilateral investments, intellectual property protection and tariffs. According to the Chinese media, a consensus was reached in some of these areas, but major disagreements still remained.
The talks have been reasoned by the recent tensions between China and the United States, which erupted in recent months after in March, Washington introduced a 25-percent tariff on imported steel and a 10-percent tariff on imported aluminum.
In addition, in April, US President Donald Trump threatened to introduce extra tariffs on the Chinese imports worth about $150 billion per year, after which China announced its decision to impose 25-percent tariffs on a total of 106 goods imported from the United States.
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