REUTERSThe world’s two biggest economies are nine months into a trade war that has cost billions of dollarsUS negotiators have tempered demands that China curb industrial subsidies as a condition for a trade deal after strong resistance from Beijing, according to two sources briefed on discussions, marking a retreat on a core US objective for the trade talks. A representative for the White House referred Reuters to the US Trade Representative’s Office, which did not respond to a request for comment. “If US negotiators define success as changing the way China’s economy operates, that will never happen,” said the other source with knowledge of the trade talks. “A deal that makes Xi look weak is not a worthwhile deal for Xi. China pledged earlier this year to end market-distorting subsidies for its domestic industries but offered no details on how it would achieve that goal, three people familiar with the trade talks told Reuters in February.

Source: Dhaka Tribune April 15, 2019 06:11 UTC