The US-China trade war broke out in the middle of last year, with the two sides continually imposing retaliatory tariff measures, which has caused losses worth billions of dollars for themselves and threatened to hinder global economic growth. Up to now, the total value of higher taxed goods between the US and China has reached more than US$360 billion. President Donald Trump’s administration wants to maintain the additional duties currently being imposed on imports from China until Beijing executes its commitments on a regular basis. On the Chinese side, Beijing has urged the US to immediately abolish additional tariffs after a bilateral trade agreement is signed. In an effort to terminate the aforementioned trade war, the US and Chinese leaders agreed to a ceasefire in their trade battle in late 2018 to negotiate a deal. So far this year, the two sides have conducted many rounds of negotiations and have gradually attained a consensus. Both the US and Chinese officials are … [Read more...] about Positive signs in US-China trade talks
Us china trade talks
US-China trade talks resume in Washington from Tuesday: White House
WASHINGTON — US-China trade talks aimed at ending a damaging tariff war will resume from Tuesday in Washington, the White House has announced. The last set of talks ended last Friday in Beijing with no deal, though US President Donald Trump said the discussions were going "extremely well" and suggested he could extend a March 1 truce deadline for an agreement to be reached. The next round of negotiations will commence with deputy-level meetings before moving on to principal-level talks on Thursday, a White House statement issued on Monday said. For the US, the talks will be led by Trade Representative Robert Lighthizer and include Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, economic policy advisor Larry Kudlow, and trade advisor Peter Navarro. China’s commerce ministry meanwhile announced it would be represented by Vice Premier Liu He, Beijing’s top trade negotiator. Last Friday, Trump re-iterated he might be willing to hold off on … [Read more...] about US-China trade talks resume in Washington from Tuesday: White House
US China trade talks set to open in Beijing
US Trade Representative Robert Lighthizer (left) and Deputy Trade Representative Jeffrey Gerrish leave a hotel with members of a negotiation team in Beijing. (GREG BAKER/AFP) Pressure to seal an accord ahead of a March deadline lessened before the talks as US President Donald Trump indicated on 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 US$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 US$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 … [Read more...] about US China trade talks set to open in Beijing
European stocks, dollar wobble before US-China trade talks
European stocks, dollar wobble before US-China trade talks, AFP Photo / Andrew Burton / AFP While not expecting a major deal when officials from Beijing and Washington meet, investors are hopeful they can start to find a way out of the months-long row that has seen tariffs imposed on billions of dollars of goods and stock markets tumble. "Stock markets are mixed as trade talks still dominate the headlines," said market analyst David Madden at CMC Markets UK. In Europe, both London and Paris closed higher, while Frankfurt ended essentially flat after having spent most of the day in the red. On Wall Street, the Dow was lower while both the S&P 500 and tech-heavy Nasdaq Composite were higher in late morning trading. After the S&P 500 set a new record high on Tuesday, Wall Street is set to reach Wednesday a new landmark on the longevity of the rising market that started in 2009 just after the global financial crisis. The S&P 500 will mark 3,453 straight days without … [Read more...] about European stocks, dollar wobble before US-China trade talks
Door to US China trade talks seems to open after IMF meeting
The gathering of world finance ministers began with heightened anxiety about the potential damage a US-China trade war could do to the economic recovery but ended on Saturday (Apr 21) with a door open to negotiations. IMF Managing Director Christine Lagarde said it was important to resolve trade disputes before they impact growth. (Photo: AFP/Andrew Caballero-Reynolds) International Monetary Fund chief Christine Lagarde, who has been urging countries to avoid damaging protectionism, said this weekend's spring meeting had "made progress towards dialogue." And shortly after her comments, US Treasury Secretary Steven Mnuchin announced he was considering a trip to Beijing to hold talks on the trade dispute, a welcome respite after weeks in which tensions had ratcheted ever higher. Tensions between the world's two largest economies have cast a shadow over this week's gathering of finance ministers, given concerns a trade war would undercut the global recovery. President Donald … [Read more...] about Door to US China trade talks seems to open after IMF meeting