This was what prompted Trump's tweet in response
The latest report by Reuters - citing sources with knowledge of the talks - says that China had deleted its commitments to resolve core complaints by the US last Friday i.e. theft of intellectual property and trade secrets, forced technology transfers, competition policy, access to financial services, and currency manipulation.
Adding that the document handed over by the Chinese camp was riddled with reversals on said key commitments and undermined core US demands.
The report adds that the stripping of binding legal language in the agreement was greeted with a cold response from Lighthizer as he views changes to Chinese laws as the highest priority for trade talks and is afraid of 'empty reform promises' from China.
Well, that doesn't come as too much of a surprise now, does it? As mentioned here, if the two were to strike any semblance of a trade deal, it would be as though both sides are putting together a car without its key parts. In this case, there is no way China will legally accept to IP theft laws and an exchange rate pact.
Let's see if Trump's latest tariffs gambit will be able to change China's mind as the two parties meet tomorrow. I doubt China will offer much in return, so if the US is hoping for major concessions, well tough luck.
