Monday, 18 October 2021

China delegation will visit U.S. to address trade war

China’s commerce ministry said it will send a delegation to the United States this month for talks aimed at easing the contentious trade war.

Commerce Vice-Minister Wang Shouwen will lead the delegation to meet U.S. Treasury Undersecretary David Malpass, to discuss “economic and trade issues” at the invitation of the U.S. government, Beijing officials said Thursday.

The officials said China still opposes unilateralism and trade protectionism, but it welcomes dialogue based on principles of reciprocity, equality and integrity.

White House economic adviser Larry Kudlow confirmed Thursday the talks are scheduled.

“The Chinese government, in its totality, must not underestimate President Trump’s toughness and willingness to continue this battle,” he told CNBC.

The meeting would be the first high-level talks since a trade war began in July when both countries started imposing billions of dollars in tariffs on each other.

Asian stock markets recovered from low levels Thursday as reports surfaced that China agreed to the talks.

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