China refuses to accept US demands to ease curbs on tech firms


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China refuses to accept US demands to ease curbs on tech firms

Ahead of a fresh leg of Sino-US trade talks this week, Chine may not be accepting US demands of easing curbs on tech firms, a Financial Times report revealed on Sunday, the 24th of March 2019, citing at least three people familiar with the subject matter.

The fresh news of China’s stiffness over its financial protocol came forth after White House said on Saturday (March 23rd) that US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer were scheduled to visit Beijing later this week for the trade talks due to be started on March 28th.

According to the Financial Times report released on Sunday (March 24th), Beijing had not yet offered any “meaningful concessions” to US requests of discontinuing discrimination against foreign cloud computing providers, to make the requirement flexible to store data locally and to reduce limits on overseas data transfers.

The report also added that Chinese delegates had already offered an initial digital trade, which United States’ officials had judged as insufficient. Following a rejection of initial offer, United States demanded for a stronger pledge, while China retracted their offer.

Despite visible deep differences, US President Donald Trump had been quoted saying on Friday (March 22nd) that the talks were progressing successfully and a final accord seemed possible.