Wednesday, 16 October, 2019

China allows first-ever US rice imports ahead of trade talks

An employee works at a factory producing electronic bicycles for export in Huaibei. Both the U.S. and China have said they want to resolve trade differences but progress has been slow US trade delegation to travel to China next month: Report
Russell Knight | 29 December, 2018, 21:08

U.S. Trade Representative Robert Lighthizer, who was put in charge of the China talks, said the negotiations would not be extended beyond the 90-day deadline.

China and the U.S. have made specific arrangements to hold face-to-face discussions in addition to the intensive telephone conversations they have been having, Gao was cited as saying by Efe news.

The talks will be the first head-to-head meeting since presidents Donald Trump and Xi Jinping met at the G-20 summit in Argentina, where a 90-day tariff truce was announced earlier this month.

The two sides have "made specific arrangements for face-to-face meetings" and are talking by phone, said a Ministry of Commerce spokesman, Gao Feng.

Trump and Xi agreed to stop escalating tit-for-tat tariffs that have disrupted the flow of hundreds of billions of dollars of goods between the world's two biggest economies.

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This would be the first face-to-face talks since the truce was agreed by both leaders on the sidelines of the G20 in Buenos Aires.

China also resumed the purchase of U.S. soybeans and eased investment rules for United States companies following the truce. The two leaders also settled to continue their negotiations while the United States rescheduled it planned tariff increase which was supposed to be implemented on January 1. China also announced that they will suspend implementing tariffs on USA -made Vehicles and auto parts for three months starting Jan.1. Another source told Reuters that talks were likely in early January.

December 27, 2018 (EIRNS)- A U.S. trade delegation led by Deputy U.S. Trade Representative Jeffrey Gerrish, which will include Treasury Undersecretary for International Affairs David Malpass, will travel to China during the week of January 7, according to Bloomberg.

Another factor that might drop the trade tension between the two nations is China's "negative" list that was issued on Tuesday. The unified list is seen as an effort to address concerns from Western investors that there is no level playing field in China. In it, China has proposed a ban on forced technology transfer and illegal government "interference" in foreign business operations, practices that have come under the spotlight during the trade war.

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