Trade War: Reforms China

trade war: The sticking point between the world's two largest economies illustrates a core challenge in ending their seven-month trade war ensuring China's pledges will translate into concrete action, according to The Japan Times. In four days of talks this week in Beijing, progress has been difficult on U.S. demands for structural reforms, according to one of the sources briefed on the talks. China promised to bring all subsidy programs into compliance with World Trade Organization rules, the sources said, but U.S. negotiators reacted skeptically, in part because China has long refused to disclose its subsidies. ; Without knowing exactly how the Chinese government finances industries and state-run companies, any reform promises would be difficult to enforce, said the sources, speaking on condition of anonymity because the negotiations are confidential. In addition to curbs on state subsidies, U.S. negotiators are seeking measures to end the forced transfer of U.S. technology to Chinese firms and cybertheft of American trade secrets. China's Commerce Ministry did not respond to a faxed request for comment. Spokespersons for the U.S. Trade Representative's office and the U.S. Treasury did not immediately respond on Thursday to requests for comment about the talks. (news.financializer.com). As reported in the news.