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China’s Commerce Minster Zhnogn was reported by Reuters, as saying that the China-US trade negotiations should be based on the principle of mutual respect and equality.

Additional Comments:

Trade talks have been ‘difficult’.

Trade talks difficult due to differences in culture, stages of economic development.

Trade talks have been ‘very short’ even after extensions.

China and US should seek common grounds while setting aside differences if they want to reach consensus.

Some areas in trade talks have achieved a breakthrough.

Working teams from both sides are talking right now.

Separately, a former People’s Bank of China (PBOC) adviser was on the wires, noting that the Yuan exchange rate risk is controllable this year.