Published: Fri, August 17, 2018
Money | By Michele Stevens

China, US to Resume Trade Talks This Month

China, US to Resume Trade Talks This Month

The Chinese government did not say what topics would be discussed at the upcoming meeting, but reiterated Beijing's stance that it opposes "unilateralism and trade protectionism".

Vice Commerce Minister Wang Shouwen, the deputy representative on worldwide trade negotiations, will meet with a senior U.S. treasury official, David Malpass, at the invitation of the United States, the ministry said in a statement.

Reuters reported Thursday that representatives from the Treasury Department will meet with China's Vice Minister of Commerce Wang Shouwen and other officials in Washington, D.C.

Beijing and Washington started a tit-for-tat trade war in July, each imposing 25 per cent tariffs on the other side's goods.

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U.S. futures also gained, as Dow e-minis gained 0.45 per cent on the news.

Washington is due to activate additional tariffs on $16 billion of Chinese goods on August 23, and Beijing has said it will respond in kind. He continued, "Right now, their economy looks awful". And China has promptly hit back with tariffs on an equal amount of USA exports.

"Mostly, I think investors are moving out of China because they don't like the economy and they're moving to the United States of America because they like our economy", he told the room.

"It is possible that China may stress to the United States that China will continue reform", he said.

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Trade Representative Robert Lighthizer has been meeting with Mexican officials as the USA works to renegotiate NAFTA.

"Those talks are hot, you know, they're heated and they're going rather well", said the economic adviser.

But less than 10 days later, the White House said it would push forward on planned tariffs on $50 billion of Chinese imports and press ahead with restrictions on investments by Chinese companies in the U.S.

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