Monday, 06 July, 2020

US, Chinese negotiators resume trade talks on Tuesday

U.S. China's Top Trade Officials Make First Contact Since TruceMore U.S. China's Top Trade Officials Make First Contact Since TruceMore
Deanna Wagner | 10 July, 2019, 14:55

Scissors, who has at times consulted with Trump administration officials, said that both sides got what they wanted out of the summit - a lowering of the temperature and the avoidance of new tariffs that would have been painful for both sides. "Hopefully we can pick up where we left off, but I don't know that yet".

Earlier on Tuesday, White House economic adviser Larry Kudlow said China was expected to move forward "quickly" with agricultural purchases from the US.

In point of fact, this week's trade talk between Chinese and U.S. negotiators would resume after a two-months break, however, nearly a year of trade row between the world's first- and second-largest economies had shown little optimism that their distances were narrowed. It gave no other details.

US and Chinese negotiators are scheduled to resume talks this week after a two-month hiatus, a year since their tit-for-tat tariff battle began.

The United States and China agreed during a Group of 20 nations summit in Japan last month to resume discussions, easing fears of an escalation. Washington is pushing Beijing to remedy what US officials see as decades of unfair and illegal trading practices.

Kudlow noted that Trump has agreed to hold off on imposing new tariffs and will allow certain United States products to be sold to Chinese telecom giant Huawei.

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Kudlow's comments suggested it was still unclear whether the two sides would resume work from the draft text agreed before that pull-back, as US officials want, or whether they will use a different starting point.

The officials exchanged views on implementing an agreement reached between Chinese President Xi Jinping and U.S. President Donald Trump at their meeting in Osaka in late June, the statement said. "That's very, very important". He also said relaxed USA government restrictions on Huawei could help the technology giant but would only be in place for a limited time. At the White House, he told reporters, "There are no miracles here".

The relatively narrow exemption list will provide relief from 25 per cent tariffs the U.S. slapped on $US34 billion of Chinese imports on July 6, 2018.

"Speed is not an issue, quality is the issue", Kudlow said.

In this Thursday, July 4, 2019, photo, magazines with a front cover featuring Chinese President Xi Jinping against U.S. President Donald Trump, trade war and the South China Sea is placed on sale at a roadside bookstand in Hong Kong.