China's Commerce Ministry on Thursday introduced that the rustic's Vice Premier and leader trade negotiator Liu He has spoken with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, and that each side agreed to fulfill in Washington in October.
China announced that its trade officials will travel to Washington early next month for talks with USA counterparts, potentially restarting stalled negotiations after weeks of uncertainty and escalation.
Developments over the past few months in Beijing, Washington and Hong Kong should make it clear that the conflict is about much more than just trade, and a couple of days of face-to-face meetings can not resolve much, if anything. "But the talks don't mean the two sides will inch closer or that their stances soften". United States trade authorities said that deputy-level meetings this month will "lay the groundwork for meaningful progress".More news: Razer Blade Stealth Is Now Available With A Greater Gaming Experience
More news: Princess Charlotte, 4, starts school
More news: MI first to ban flavored vaping products
On Sept. 1, the USA introduced 15 percent tariffs on US$112 billion worth of Chinese goods, including textile products. The offshore yuan advanced, while havens such as the yen and gold declined. China's central bank governor Yi Gang was also on the call.
Officials have struggled to agree on when to hold talks and what to discuss since their last meeting in Shanghai in July. Trump has warned that if he is re-elected, China will face a tougher US negotiating stance.
This week, China said it had lodged a complaint against the U.S. with the World Trade Organization (WTO), one day after new tariffs imposed by Washington came into force. "Investors are slowly coming to terms that a trade deal is increasingly remote, with both sides talking tough and preparing for a long battle".