US, China still talking on investment treaty

The nation's top trade official said Monday that there is more work ahead in 2015 for a U.S.-China bilateral investment treaty (BIT) that would expand trade between the world's two largest economies. 

U.S. Trade Representative Michael FromanMichael B.G. FromanOn The Money: Sanders unveils plan to wipe .6T in student debt | How Sanders plan plays in rivalry with Warren | Treasury watchdog to probe delay of Harriet Tubman bills | Trump says Fed 'blew it' on rate decision Democrats give Trump trade chief high marks US trade rep spent nearly M to furnish offices: report MORE said that the United States is expected to receive a list of products early next year from China that would seek to exclude from the deal.

ADVERTISEMENT

He said during a press conference in Beijing that leaders were using the Asia-Pacific Economic Cooperation summit to narrow down China's exclusions to as few as possible.

The two nations decided about 18 months ago to negotiate an investment deal that would open up the Chinese economy to more U.S. imports. 

Froman said that in the interim there have been good discussions and further work is expected early next year.

Earlier on Monday, President Obama said he is hoping that conversations with China's President Xi Jinping with further open up negotiations and break down trade barriers.