US, China agree to semi-annual talks to resolve deep differences


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US, China agree to semi-annual talks to resolve deep differences

On Saturday, the 11th of January 2020, Beijing and Washington had agreed to a resumption of semi-annual trade talks in a bid to resolve their deep economic differences, a process cancelled after US President Donald Trump was sworn to take the office following 2016 US Presidential election, as a tattering trade row between the world’s first- and second-largest economy emerged out of nowhere on mid-2018 after China expressed purchase of more US farm goods in response to a Trump Administration’s call for a broad-based economic reform.

Aside from that, an official familiar with the subject-matter was quoted saying late on Saturday (January 11th) that the US-China Comprehensive Economic Dialogue, which had begun under the former US President George W. Bush to allay concerns over a growing number of trade debates, would likely to be announced on January 15th as part of a “Phase One” deal between the trade-war struck nations, a Wall Street Journal report published on Saturday (January 11th) had revealed.

On top of that, according to the Wall Street Journal’s Saturday’s (January 11th) report, the semi-annual meet agreed over the weekend would offer a steady and high-level conversation between two of the world’s largest economies, while the sessions would more likely to be led by US Treasury’s Steven Mnuchin and Chinese Vice Premier Liu He.