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U.S. Governmental News

US, China Make Modest Progress on Trade

Wednesday, May 23, 2007 6:22:37 PM
By MARTIN CRUTSINGER

Chinese Vice Premier Wu Yi speaks during a joint statement with Treasury Secretary Henry Paulson, not shown, Wednesday, May 23, 2007, at the U.S.- China Strategic Economic Dialogue in Washington.  (AP Photo/Gerald Herbert)WASHINGTON (AP) - The United States and China concluded high-level trade talks Wednesday with progress reported in a few areas but no breakthrough in the biggest dispute, China's undervalued currency.

Treasury Secretary Henry Paulson and Vice Premier Wu Yi both sounded positive notes on the importance of the new high-level discussions.

But the scant signs of success left China's critics vowing to push ahead with legislation seeking to punish China for what are seen as unfair trading practices that have driven U.S. trade deficits to record levels and cost thousands of manufacturing jobs.


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