Monday, 29 November 2021

US-China trade talks set to open in Beijing

BEIJING: US and Chinese negotiators are set to kick off two days of official trade talks in Beijing Thursday as the world´s top two economies try to patch up their festering economic dispute.

Pressure to seal an accord ahead of a March deadline lessened before the talks as US President Donald Trump indicated Tuesday in Washington he was open to extending a trade truce, depending on progress in Beijing.

Trump in December put on hold sharp tariff hikes on $200 billion of Chinese imports to allow time for negotiators to work out a resolution to the thorny spat.

The two countries have already slapped tariffs on more than $360 billion in two-way trade, which has weighed on their manufacturing sectors and shaken global financial markets.

US officials including US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will meet with China´s top economic czar Liu He and central bank governor Yi Gang as the two sides aim to build on progress made in Washington last month.

Lower level officials arrived earlier for what the White House called preparatory meetings starting Monday.

Expectations for a trade deal have grown as China faces pressure from slowing economic growth and swooning global markets rattle Trump and his economic advisors.

Check Also

Pentagon signals slow pullout from Afghanistan

(Photo by Joël SAGET / AFP / FILES) WASHINGTON: The US military could slow down ...

Leave a Reply