16.08.2018 kl 08:06 8026

U.S., China to Resume Trade Talks as Tariffs Bite

The new round of discussions, the first since May, would represent lower-level, exploratory talks

China and the U.S. reached a mod­est break­through in their stand­off over trade, say­ing they will hold lower-level talks later this month on the spi­ral­ing dis­pute.

Chi­na’s Com­merce Min­istry said Thurs­day that a vice min­is­ter will travel to the U.S. at an un­spec­i­fied date, at the in­vi­ta­tion of the Trea­sury De­part­ment, to dis­cuss trade is­sues. A se­nior U.S. gov­ern-ment of­fi­cial con­firmed the talks and said: “We ex­pect to dis­cuss steps to achieve a more bal-anced trad­ing re­la­tion­ship.”

The new round of dis­cus­sions would be the first since May, when Trea­sury Sec­re­tary Steven Mnuchin and Chi­nese Vice Pre­mier Liu He de­clared a tem­po­rary truce to the threats to im­pose tar­iffs on each oth­er’s goods. Shortly af­ter­ward, Pres­i­dent Trump de­clared that the tar­iffs would go ahead. Since then, both sides have slapped penal­ties on tens of bil­lions of dol­lars in each oth­er’s goods, with the U.S. ready to move ahead on plans to tar­get $200 bil­lion more in Chi­nese prod­ucts, and the Chi­nese econ­omy has be­gun to weaken.

The Au­gust dis­cus­sions would rep­re­sent lower-level, ex-ploratory talks that could be a way for both sides to save face should progress prove elu­sive, said in­di­vid­u­als briefed on the dis­cus­sions. Trea­sury Un­der­sec-re­tary David Mal­pass and Chi­nese Vice Com­merce Min­is­ter Wang Shouwen would lead the talks.


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