US, China to relaunch trade talk this week

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US, China to relaunch trade talk this week

Despite little changes since the last talk tore apart and a handful of controversial speeches from leaders of United States and China, Beijing and Washington had been set to restart their talk this week, after an eighty minutes of tentative talk between Trump and Xi over the latest G20 summit in Japan had brewed a truce between the trade-war-hurt economies.

In point of fact, this week’s trade talk between Chinese and US negotiators would resume after a two-months break, however, almost a year of trade row between the world’s first- and second-largest economies had shown little optimism that their distances were narrowed.

Nonetheless, after the meeting with Chinese President Xi Jinping over the latest G20 summit in the Japanese City of Osaka, Trump had agreed to cancel a tariff hike on all Chinese imports, untouched by trade spat so far, worth of $300 billion, meanwhile, Chinese President had also agreed to purchase some US agricultural goods.

In actuality, sources familiar with the trade talks had been quoted saying that the latest summit did little to clear the obstacles to crackdown a trade impasse, that had broken down the trade talks in early May. However, a USTR spokesman said on Monday, the 8th of July 2019 that the trade talks were expected to resume with a phone call between Chinese Vice Premiere Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin as early as by this week.