The Memoranda of Understanding cover the most complex issues affecting trade relations between the two countries and are intended, from the point of view of the United States, to end the practices that have made Trump to start importing Chinese imports first.
source warned that negotiations could still end in failure. However, the work on the Memoranda of Understanding is an important step to make China join both the general principles and the specific commitments on key issues, he said.
The United States accused Beijing of forcing US companies to do business in China to share their technology with local partners and transfer the secrets of intellectual property. China denies dealing with such practices.
Trump officials also object to non-tariff barriers in China, including industrial subsidies, regulations, business licensing procedures, product standards reviews, and other practices that are said to hold US goods outside of China or [1
In currency US officials, including Mnucin, warned China to devalue its yuan to gain a competitive advantage after the Chinese currency weakened significantly against the dollar last year, partly countering Trump's tariffs
Both sides discussed an enforcement mechanism of the agreement, source said. Reuters announced last month that the United States is insisting on regular reviews of China's progress in promised trade reforms, and may restore tariffs if it believes Beijing is violating the deal. China may reduce its trade surplus with the United States, including buying agricultural products, energy and commodities like semiconductors, according to other sources familiar with the talks.