Economy

US, China trade teams discussing next steps

China's Dingqao port/Bloomberg

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Talks broke down last month after the US President accused China of reneging on its commitments and increased tariffs on $200 billion of Chinese imports, threatening to target the remaining $300 billion with duties of as much as 25 per cent.

Monday 24, June 2019

(Bloomberg) –The US and Chinese trade teams are discussing next steps after President Donald Trump and China’s Xi Jinping agreement to meet on the sidelines of the upcoming Group of 20 summit in Japan.

Wang Shouwen, the Vice Commerce Minister, said that the trade teams are planning how to implement the decision by the top leaders, without giving specifics on what communications, if any, have occurred between the two sides.

Trump and Xi planned to discuss a range of shared issues, said Zhang Jun, China’s Assistant Foreign Minister.

The face-to-face meeting between the leaders of the world’s two largest economies will be closely watched, as markets anticipate an effort to cool mounting trade and security disputes.

TAGS : US and Chinese trade tensions, President Donald Trump, Xi Jinping, Group of 20 summit

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