U.S. President Donald Trump has indicated that efforts to end the prolonged trade war with China are progressing well,... adding Beijing has already started making massive purchases of American farm products.
But, China is reportedly seeking 2-point-4 billion U.S. dollars in retaliatory sanctions against the U.S. in a tariff case that dates back several years to the Obama era.
Kim Hyo-sun has more.
President Trump said Monday that trade talks between Washington and Beijing are going well,... expressing optimism they can finally reach a long-awaited truce.
Speaking to reporters before a Cabinet meeting,... Trump explained that China has started to buy U.S. farm products,... in accordance with the first phase of the agreement reached two weeks ago.
He also said last week that he hopes the two countries can sign a trade deal at the APEC summit slated to be held in Chile in mid-November.
President Trump's top economic adviser Larry Kudlow told Fox Business Network on Monday that the U.S.-China trade talks continue to move in the right direction,... adding that a lot of progress has been made.
He also explained there is a possibility of removing the tariffs set to be imposed on China from December,... once the talks go well.
But, Kudlow also stressed Washington will not do a deal just to do a deal, insisting it has to be the right one for the U.S.
Meanwhile,... Beijing is reportedly seeking 2-point-4 billion U.S. dollars in retaliatory sanctions against the U.S.
According to Reuters,... China has appealed to the WTO that Washington failed to comply with a WTO ruling in a 2012 tariff case that dates back to the Obama era.
China insists anti-subsidy tariffs were imposed by Washington on its exports of solar panels and wind towers,... which were valued at 7-point-3 billion dollars at the time.
The WTO's Dispute Settlement Body is set to deliberate China's request next Monday.
Kim Hyo-sun, Arirang News.