On Monday, the 7th of October 2019, trade negotiators of the world’s first- and second-largest economy launched a new round of trade talk in a bid to resolve the nations’ yearlong trade conflict entering into its sixteenth month, while neither side had yet to show any sign of mollification.
Amid such tense air in Washington, a 30-member team of Chinese officials led by China’s Vice Finance Minister Liao Min, entered into the USTR Robert Lighthizer’s office for a two-day long negotiation, which would be followed by a first minister-level trade negotiation in more than two months.
Meanwhile, White House had confirmed earlier on Monday (October 7th) that the slated high-level talks between Chinese Vice Premiere Liu He, US Treasury’s Steven Mnuchin and USTR (US Trade Representative) Robert Lighthizer by next Thursday (October 10th).
Adding that the two sides would be looking to find a way around their troubled trade relationships tormenting financial markets across the globe, White House spokeswoman, Stephanie Grisham said in a statement on Monday (October 7th) morning, “The two sides will look to build on the deputy-level talks of the past weeks.
Topics of discussion will include forced technology transfer, intellectual property rights, services, non-tariff barriers, agriculture, and enforcement. ” More critically, Thursday’s (October 10th) high-level trade talks are scheduled to take place less than a week before a planned hike of US tariff on $250 billion worth of Chinese goods to 30 per cent from a prior 25 per cent.