U.S., China could settle immediate trade issues: Ross on CNBC

WASHINGTON, Jan 7 (Reuters) - The United States and China are likely to reach a good settlement over immediate trade issues while agreement on structural trade issues and enforcement will be harder, U.S. Secretary of Commerce Wilbur Ross said on Monday as U.S.-China trade talks resumed.

Ross, in an interview on CNBC, said the talks in Beijing would help determine whether trade differences between the world's two largest economies could be resolved through negotiations.

"I think there's a very good chance that we will get a reasonable settlement that China can live with, that we can live with and that addresses all of the key issues. And to me those are immediate trade. That's probably the easiest one to solve," Ross said.

U.S. officials are meeting their counterparts this week for the first face-to-face talks since U.S. President Donald Trump and Chinese President Xi Jinping agreed in December to a 90-day truce in a trade war that has roiled global markets.

Related: Trump joins leaders of Canada, Mexico to sign new trade pact:

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Trump joins leaders of Canada, Mexico to sign new trade pact
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Trump joins leaders of Canada, Mexico to sign new trade pact
President Donald Trump, center, reaches out to Mexico's President Enrique Pena Nieto, left, and Canada's Prime Minister Justin Trudeau as they prepare to sign a new United States-Mexico-Canada Agreement that is replacing the NAFTA trade deal, during a ceremony at a hotel before the start of the G20 summit in Buenos Aires, Argentina, Friday, Nov. 30, 2018. The USMCA, as Trump refers to it, must still be approved by lawmakers in all three countries. (AP Photo/Martin Mejia)
President Donald Trump, Canada's Prime Minister Justin Trudeau, right, and Mexico's President Enrique Pena Neto, left, participate in the USMCA signing ceremony, Friday, Nov. 30, 2018 in Buenos Aires, Argentina. (AP Photo/Pablo Martinez Monsivais)
President Donald Trump, Canada's Prime Minister Justin Trudeau, right, and Mexico's President Enrique Pena Neto, left, participate in the USMCA signing ceremony, Friday, Nov. 30, 2018 in Buenos Aires, Argentina. (AP Photo/Pablo Martinez Monsivais)
President Donald Trump, Canada's Prime Minister Justin Trudeau, right, and Mexico's President Enrique Pena Neto, left, participate in the USMCA signing ceremony, Friday, Nov. 30, 2018 in Buenos Aires, Argentina. (AP Photo/Pablo Martinez Monsivais)
El presidente Donald Trump, el primer ministro de Canadá Justin Trudeau, a la derecha, y el presidente de México, Enrique Peña Neto, a la izquierda, participan en la ceremonia de firma de la USMCA, el viernes 30 de noviembre de 2018 en Buenos Aires, Argentina. (AP Foto / Pablo Martinez Monsivais)
President Donald Trump, center, smiles as he speaks next to Canada's Prime Minister Justin Trudeau, right, and Mexico's President Enrique Pena Nieto, applauding, before they sign a new United States-Mexico-Canada Agreement that is replacing the NAFTA trade deal, during a ceremony at a hotel before the start of the G20 summit in Buenos Aires, Argentina, Friday, Nov. 30, 2018. The USMCA, as Trump refers to it, must still be approved by lawmakers in all three countries. (AP Photo/Martin Mejia)
President Donald Trump shakes hands with Mexico President Enrique Pena Neto, left, as Canada's Prime Minister Justin Trudeau, right, looks on after participating in the USMCA signing ceremony, Friday, Nov. 30, 2018 in Buenos Aires, Argentina. (AP Photo/Pablo Martinez Monsivais)
President Donald Trump, Canada's Prime Minister Justin Trudeau, right, and Mexico's President Enrique Pena Neto, left, walk out after participating in the USMCA signing ceremony, Friday, Nov. 30, 2018 in Buenos Aires, Argentina. (AP Photo/Pablo Martinez Monsivais)
Mexico's President Enrique Pena Nieto speaks as President Donald Trump looks on before they sign a new United States-Mexico-Canada Agreement that is replacing the NAFTA trade deal, during a ceremony at a hotel before the start of the G20 summit in Buenos Aires, Argentina, Friday, Nov. 30, 2018. The USMCA, as Trump refers to it, must still be approved by lawmakers in all three countries. (AP Photo/Martin Mejia)
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It is unclear if Beijing will yield to key U.S. demands over trade imbalances, market access, and more protection for intellectual property.

Trump said on Sunday that trade talks with China were going very well and that weakness in the Chinese economy gave Beijing a reason to work toward a deal.

Even if a trade agreement is reached soon, analysts say it would be no panacea for China's economy, which is expected to continue decelerating in coming months.

(Reporting by Susan Heavey; Writing by Nick Zieminski; Editing by Jeffrey Benkoe)

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