U.S. and Chinese officials will speak on Thursday, potentially paving the way fo...
CHANTILLY, France/WASHINGTON - U.S. and Chinese officials will speak on Thursday, potentially paving the way for in-person trade talks to resume, U.S. Treasury Secretary Steven Mnuchin said, as the world’s two largest economies seek to end a year-long trade war.
The United States and China have been embroiled in a tit-for-tat tariff battle since July 2018, as Washington presses Beijing to address what it sees as decades of unfair and illegal trading practices. China has countered that any deal needs to be fair and equitable, leaving the two sides apparently still far from an agreement to end the back-and-forth that has roiled global supply chains and upended financial markets.
Separately, China’s former ambassador to Iceland and former president of China Institute of International Studies, a think tank affiliated with China’s Foreign Ministry, said he expected more formal discussions to resume this month.“These are difficult questions, issues between these two countries, but at least they agreed to let the two negotiation teams to restart their work, so we will keep our fingers crossed.”Global stocks have been rattled this week after comments on Tuesday from U.S.
“What they did was not appropriate,” Trump said Tuesday. “They are supposed to be buying farm products. Let’s see whether or not they do.” After meeting with Xi at the G20, Trump said American firms could sell products to Huawei. Earlier this month, Commerce Secretary Wilbur Ross said licenses would be issued where there is no threat to national security.
“My participation in this is only informational. I’ve never encouraged companies one way or the other to do things.”
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