Trade war: China, U.S poised to resume talks

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China, US flags

China says U.S. trade negotiators will arrive in Beijing late Thursday afternoon and start the new round of talks with a working dinner.

The United States President Donald Trump’s top trade negotiator, Robert Lighthizer and Treasury Secretary Steven Mnuchin are due to visit Beijing on Thursday and Friday while China’s top negotiator, Vice-Premier Liu He, plans to travel to the US the following week.

Chinese Commerce Ministry spokesman, Gao Feng said the discussions were expected to last for a full day on Friday.

The talks are aimed at ending a tariff war over Beijing’s technology ambitions amid official suggestions they might be making progress.

Thursday’s meeting is the latest in a rapid-fire series of exchanges seeking to end a conflict that is disrupting trade in goods from soybeans to medical equipment.

President Donald Trump expressed optimism last week, saying, “We’re getting very close.”

It would be recalled that the dispute erupted after Trump raised duties last year on Chinese imports in response to complaints that Beijing pressured companies to hand over technology

The US had imposed tariffs on $250bn (£188.6bn) worth of Chinese goods, and China has retaliated with duties on $110bn of US products.

Mr Trump also threatened further tariffs on an additional $267bn worth of Chinese products – which would see virtually all of Chinese imports into the US become subject to these tariffs.

Meanwhile, Analysts are of the opinion that the trade war has cast a shadow over global trade and is contributing to a slowdown in the world economy.

 

Peace PIAK