China: Trade talks with the United States are back on

Fredrick Soto
August 17, 2018

Having made little progress in the previous meetings, the White House said on August 3 that the United States is open to further talks with China on how to resolve the festering trade dispute.

A Chinese trade delegation will visit the USA this month to kick off a new round of talks, the first since negotiations broke down two months ago.

A statement by the Chinese Ministry of Commerce on Thursday said it will hold a fresh round of trade talks with USA officials in Washington before the end of the month. Earlier this month, China announced a list of $60 billion worth of USA imports it plans to apply tariffs on, after Trump ordered officials to consider imposing a 25 percent tax on $200 billion worth of Chinese goods, up from an initial 10 percent rate.

Beijing has said it will retaliate in kind. Beijing retaliated by imposing the same percentage of retaliatory tariffs on 545 US items, also worth $34 billion.

Beijing will send a delegation to Washington this month, led by Wang Shouwen, its vice commerce minister, following an invitation from the Trump administration.

Having made little progress in the previous meetings, the White House said on August 3 that the United States is open to further talks with China on how to resolve the festering trade dispute.

News of the talks boosted China's yuan currency and its stock markets, which have been hit hard by negative sentiment related to the trade war and a slowing domestic economy.

White House economic adviser Larry Kudlow said the "single biggest event" of 2018 is "an economic boom that most people thought would be impossible".

Our Country was built on Tariffs, and Tariffs are now leading us to great new Trade Deals - as opposed to the disgusting and unfair Trade Deals that I inherited as your President.

But less than 10 days later, the White House said it would push forward on planned tariffs on $50 billion of Chinese imports and curbs on investments by Chinese companies in the United States.

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