07 Jan – US and China begin governmental trade talks
According to an official statement released by China’s Ministry of Finance, China and the US will hold vice ministerial-level trade talks on January 7 and 8, marking the first face-to-face negotiations since a 90-day ceasefire was struck in December last year.
A working team led by Deputy US Trade Representative will hold two days of positive and constructive discussions on trade with their Chinese counterparts in Beijing, China, the statement from the ministry said.
The working-level discussions are expected to build on the trade agreements reached by the two state leaders in the G-20 summit in Buenos Aires, Argentina last month. The agreement called for holding off on any further trade barriers for 90 days, starting from December 1.
A new round of negotiations at a more senior level is expected, providing that the current discussions prove to be successful.
So far, the US has imposed tariff increases of up to 25% on $250 billion of Chinese imports and China has retaliated with tariffs on $110 billion of US goods.