News Digest: US-China Trade Talks

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The US-China textiles dispute remains to be solved, though both sides expressed positive sentiments on trade issues at the 17th meeting of the Sino-US Joint Economic Commission in Beijing.

While no agreement has been reached on the textiles issue, the US Treasury Secretary John Snow noted the positive impact of China’s revaluation of the RMB, and said that legislation threatened by US senators – that would impose a 27.5 percent tariff on all imports from China in the absence of more currency reform – was “ill-conceived”.

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