Economy

China trade delegation to meet Monday, Tuesday

China trade delegation to meet Monday, Tuesday”

China and the United States will hold vice ministerial level trade talks in Beijing on January 7-8, as the two sides look to end a dispute that is inflicting increasing pain on both economies and roiling global financial markets.

The US team will be led by Deputy Trade Representative Jeffrey Gerrish, the ministry said.

In December, Beijing's commerce ministry said China and the U.S. "made new progress" on the issues of trade balance and intellectual property, one of the main sticking points of the trade dispute, during a phone call between officials from the two countries.

In early December, US President Donald Trump and Chinese President Xi Jinping called for a truce in their escalating trade war after meeting on the sidelines of the G20 summit in Buenos Aires, but the two countries have yet to reach a final agreement in their dispute.

New data released on Thursday suggest the trade war is also taking a toll on the us manufacturing sector as a whole.

Neither statement provided more details about the talks.

China on Friday confirmed that a vice ministerial level delegation from the United States will visit Beijing next week for "proactive and constructive talks" to flesh out agreements reached between President Xi Jinping and USA counterpart Donald Trump in Argentina last month. The two sides will discuss how to implement consensus reached by leaders of both countries in Argentina, it said.

Trump has said talks toward a deal are progressing well, but it is unclear if Beijing will yield to key US demands over trade imbalances, market access, and alleged Chinese abuses of intellectual property.

Last year, China and the U.S. imposed tariffs on more than $300bn (£237bn) worth of each other's goods.

Signs are emerging that the trade war is impacting US businesses.

It cited steeper-than-expected "economic deceleration" in China, which is one of its largest overseas markets, amid the US-China trade war. "Can they compromise? We'll see".



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