Published: Thu, August 16, 2018
Finance | By Loren Pratt

China to send negotiator to USA for trade talks this month

China to send negotiator to USA for trade talks this month

US President Donald Trump and China's President Xi Jinping arrive at a state dinner at the Great Hall of the People in Beijing, China, Thursday.

China said on Thursday a delegation would attend the next round of trade talks with USA counterparts in Washington later this month, in the latest bid to diffuse a conflict that has set world markets on edge.

Cinna's Commerce Ministry says visiting at the invitation of the US.

The latest headlines crossing the wires concerning China-US trade spat, cites that China's Vice Commerce Minister is said to visit the US for trade talks.

China's commerce ministry reiteratedthat Beijing opposed trade protectionism and would not accept any unilateral trade restrictions.

US Commerce Minister Wilbur Ross held talks with Chinese Vice Premier Liu He in Beijing in June.

And China has promptly hit back with tariffs on an equal amount of USA exports.

The meeting would end what had been a lull in talks between the two sides, but it is unclear whether it will take place before or after August 23, when Washington is due to activate additional tariffs on $16 billion of Chinese goods. China responded with similar penalties on American imports.

Unless there is some breakthrough the United States and China are preparing to a next round of retaliatory levies, having implemented tariffs on $34 billion of each other's exports on July 6.

"This looks like it will be a waste of time for the two govts (esp China's).Who thinks US Treasury Dept is empowered to make THE deal to end the trade war?", Scott Kennedy, deputy director of the Freeman Chair in China Studies at the Center for Strategic and International Studies in Washington, wrote on Twitter.

The threatened tariffs on $200 billion worth of Chinese goods could have "some direct impact" on industrial production, employment, foreign trade and commodity prices, but "the overall impact is generally controllable", Cong Liang, spokesman at the National Development and Reform Commission, told reporters on Wednesday. But Trump backed away from the agreement and the two nations have been locked in a tit-for-tat trade war ever since.

Like this: