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US-China to resume trade talks in Washington

Washington, Feb 19 (IECurrentAffairs) US-China trade talks aimed at ending a damaging tariff war will resume from Tuesday in Washington, the White House said.

The last set of talks ended on Friday in Beijing with no deal, though US President Donald Trump said the discussions were going “extremely well” and suggested he could extend a March 1 truce deadline for an agreement to be reached.

A statement issued by White House on Monday said that the next round of negotiations will commence with deputy-level meetings before moving on to principal-level talks on Thursday, Arab News reported.

For the US, the talks will be led by Trade Representative Robert Lighthizer and include Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, economic policy adviser Larry Kudlow, and trade adviser Peter Navarro whereas Beijing’s top trade negotiator Vice Premier Liu He will represent China.

Earlier on Friday, Trump re-iterated he might be willing to hold off on increasing tariffs to 25 per cent from the current 10 percent on March 1 on $200 billion in Chinese goods if Washington and Beijing are close to finalizing an agreement to deal with US complaints about unfair trade and theft of American technology.

American officials accuse Beijing of seeking global industrial predominance by using unfair trade practices which also includes the theft of American intellectual property and massive state intervention in commodities markets.

Howecer, since a December detente ,China has resumed purchases of some US soybeans and dangled massive buying of American commodities to get US trade negotiators closer to a deal.

The talks are aimed at achieving needed structural changes in China that affect trade between the United States and China.

The two sides will also discuss China’s pledge to purchase a substantial amount of goods and services from the United States.

Beijing and Washington have imposed duties on more than $360 billion in two-way trade, which are weighing on their manufacturing sectors and have shaken global financial markets.

Source
Via UNI-India
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