China and the United States will hold another round of talks in late August

  • China and the United States will hold another round of talks in late August
    FarmIreland.t. E.
    China has said it will hold a new round of trade negotiations with the United States in Washington later this month, offering a glimmer of hope for progress in resolving the conflict, which set global markets on edge.
    https://www.independent.ie/business/farming/news/world-news/china-and-us-to-hold-next-round-of-trade-talks-in-late-august-37221477.html
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China has said it will hold a new round of trade negotiations with the United States in Washington later this month, offering a glimmer of hope for progress in resolving the conflict, which set global markets on edge.

The Chinese delegation headed by Vice Minister of Commerce Wang Shouwen will meet with us representatives, led by Deputy Secretary of the Treasury for international Affairs David Malpass, the Ministry of Commerce said in a statement on its website.

The two largest economies in the world has implemented several rounds of tit-for-tat tariffs on each others goods with the beginning of the year and have threatened further tariffs on exports worth hundreds of billions of dollars.

The announcement of the upcoming meeting comes after a lull in negotiations between the two sides, but it is unclear whether it will take place before or after Aug.23, when Washington due to the activation of additional tariffs on $ 16 billion of Chinese goods. Beijing has said it will retaliate the same.

The last formal round of negotiations was in early June, when the U.S. Secretary of Commerce Wilbur Ross met with Chinese Vice-Premier Liu he in Beijing.

There was no immediate response from the U.S. Treasury prior to the announcement of Beijing.

The upcoming meeting is a lower level compared with the previous four rounds of talks involving BJ, Ross and the Secretary of the Treasury USA Steven Mnuchin.

Having made little progress in previous meetings, the White house said in August. 3 that the United States is open to further negotiations with China about correcting the festering trade disputes.

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China has repeatedly indicated that U.S. companies and consumers have suffered from trade wars, theme official of the ruling Communist party Renmin Ribao back on Thursday.

“America is the First U.S. President Donald trump” slogan has caused economic problems for the country, the document says, pointing to examples of how the losses suffered by American farmers in a trade war.

“What’s fantastic is that us politicians seem to be totally deaf. The voices of the producers, the international community and expert groups were to pour out, but they are deaf to it,” – said in comments.

News about the upcoming talks, helped Chinese stocks cut losses, the Index Shanghai composite .Australian and Hong Kong index the hang Seng .DIRECT both fell 0.4%, dropping as much as 1.7 PC and 1.9 PC respectively in early trading on Thursday.

U.S. futures also received, how Dow e-minis .1YMc1 rose as much as 0.5 PC on the news, although they later trimmed some of those gains.

Chinese offshore yuan CNH=D3 rose briefly against the dollar, strengthening to a high of 6.9165 to wilt.

The easing of tensions in trade has helped to raise the Chinese copper futures SCFcv1 from 14-month low, while prices of Chinese agricultural commodities fell amid speculation that supplies of U.S. soybeans used for the production of vegetable oil and animal feed can be renewed in the case that disputes cannot be resolved.

The US and China imposed tariffs on $34 billion of exports each other on the 6th of July and unless there is a breakthrough the other tit-for-tat exchange, most likely, when Washington imposes additional tariffs on $16 billion of Chinese goods next week.

Separately, China said it was ready to put additional tariffs on 5,207 goods imported from the United States worth $ 60 billion, ranging from liquefied natural gas in some aircraft.

The move was in response to the threats from Washington about raising tariffs on Chinese goods at $ 200 billion to 25 percent from 10 percent.

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