It seems we are still quite far from any deal being reached, however both sides now seem to have set out exactly what they want from the other side in regards for a deal to be reached. This has only gone to show the deep differences that still exist between both countries.
China vice premier Liu said in an interview with Chinese media on Friday that in order for a deal to be agreed the US must remove all extra tariffs, set targets for Chinese purchases of goods in line with real demanding ensure the text of the deal is balanced. These three conditions show there is still work to be done between the two economic powerhouses.
One of the US’s main demands for China is that there needs to be a change in Chinese law in order to protect America from the theft off their own intellectual property, this seems highly unlikely as Liu has not suggested that China is remotely interested in any changes to Chinese law in regards to intellectual property theft.
So it seems there is still a very long way to go in talks and in my opinion it will take a big concession from one side in order to have any sort of agreement going forward.