Economy

US Mulls Currency Accord With China in Partial Trade Deal

US Mulls Currency Accord With China in Partial Trade Deal”

The talks are expected to be held just days before Washington's planned increase of trade tariffs on $250 billion worth of Chinese goods, from 25 percent to 30 percent on 15 October.

Liu is still set to leave on Friday evening, CNBC said, citing a USA official.

Meanwhile, US Secretary of Commerce Wilbur Ross said on Thursday that tariffs on Chinese goods and services are working as they are forcing China to pay attention to US concerns.

Pessimism inside the administration is largely based on signals from Beijing that it's unlikely to make major concessions during the 13th round of talks, raising speculation that both sides may try to reach for a "mini deal" that could include additional purchases of American farm products in exchange for wiping off the books additional tariffs set to kick in starting next week.

A so-called currency pact which Washington reportedly said had been agreed to earlier this year before the trade negotiations started will potentially be the first stage of an anticipated deal with Beijing.

China refused to talk about forced technology transfer and also skirted the issue of state subsidies during the deputy-level meetings, SCMP said, citing a source with knowledge of the meetings.

But Chinese officials, surprised and upset by the US blacklisting of Chinese companies, including video surveillance gear maker Hikvision, 002415.SZ along with the suspension of USA visas for some Chinese officials, told Reuters that Beijing had lowered expectations for significant progress from the talks.

But in a possible easing of tensions, The New York Times reported that the Trump administration will soon issue licenses allowing some USA companies to sell non-sensitive goods to China's top telecom equipment maker Huawei Technologies.

The report cited unnamed people familiar with the matter.

On Wednesday, a Chinese official said that the country was still open to reaching a partial trade deal with the USA that may include large purchases of United States commodities, but added that success was contingent on Trump halting further tariffs. Articles appear on euronews.com for a limited time.



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