China and USA to hold trade talks in Beijing next week

04 January, 2019, 21:43 | Author: Brooke Harris
  • Screenshot  CNN

The decision to hold this week's talks at a deputy minister level reflects the need to work out technical details before higher-level officials make "hard political decisions on major issues", said Tu Xinquan, director of the China Institute for World Trade Organization Studies at the University of International Business and Economics in Beijing. The adviser says that with the Chinese economy slipping due to the USA tariffs, it will put pressure on the country to agree to a trade deal with the Trump administration.

In a separate statement on Friday, USTR said the delegation will also include Under Secretaries from the US Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the White House.

United States and China have exchanged tit-for-tat tariffs on more than $300 billion worth of goods in total two-way trade.

It will be the first face-to-face meeting since the two countries agreed not to impose new tariffs for 90 days.

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A United States government delegation will visit China Monday and Tuesday for the first face-to-face talks since President Donald Trump and his Chinese counterpart agreed on a temporary truce in the trade war, China's commerce ministry said.

On its website, China's commerce ministry said the goal of the upcoming talks, to be held in Beijing on 7 and 8 January, will be "implementing the important consensus" reached by the two leaders.

Trade representativesfrom the US and China to hold talks Jan 7, according to the Wall Street Journal.

Trump reported "big progress" in trade negotiations after a phone call with Xi last week. Since Apple CEO Tim Cook is attributing this to President Donald Trump's trade war with China, Hassett argued that this fits with what he's been saying about how the US economy is supposedly growing while intercontinental markets are slowing down. But they reject pressure to scrap technology initiatives they see as a path to prosperity and global influence.

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