China confirms USA trade talks in Beijing next week

China confirms USA trade talks in Beijing next week

China confirms USA trade talks in Beijing next week

That news that helped boost global markets.

China said a United States delegation will visit next week for trade talks, confirming that the two sides will have their first face-to-face negotiation since President Donald Trump and his counterpart, President Xi Jinping, agreed to a 90-day truce in their trade war last month.

Deputy US trade representative Jeffrey Gerrish will lead the American delegation, China's Ministry of Commerce said.

The talks are going ahead despite tension over the arrest of a Chinese tech executive - Huawei's chief financial officer, Meng Wanzhou - in Canada on USA charges related to possible violations of trade sanctions on Iran.

A United States delegation will visit China next week to participate in vice-ministerial level trade talks that have been ongoing since early 2018, it was announced here on Friday.

"The rest of the world is slowing, especially Europe and China, but the USA has enough momentum", said Mohamed El-Erian, the chief economic adviser of asset manager and insurer Allianz.

The clash reflects American anxiety about China's emergence as a competitor in telecoms, solar power, and other technologies and complaints by Washington, Europe, and other trading partners that Beijing's tactics violate its market-opening obligations. Trump tweeted that the call was progressing, however it's not been apparent if the resolution would be solved.

In a hard jab, Romney highlights the 68-point plummet in trust America's closest allies have that the US president will do the right thing between former President Barack Obama's last year in office and Trump's first year.

The Dow dropped 660 points, or 2.8%, on Thursday after Apple (APPL ) warned it will badly miss its quarterly sales forecast because of weaker growth in China and the trade war. "But right now, China is feeling the blow, really, of our tariffs, and I think that that's an appropriate place for us to have taken the relationship given the amount of stuff that they were stealing from us". There are fears of both sides hiking tariffs if no deal is reached.

Growth is expected by the government to have eased to around 6.5% in 2018, down from 6.9% in 2017. "There are a heck of a lot of USA companies that have sales in China that are going to be watching their earnings being downgraded next year until we get a deal with China".

Third-quarter USA growth was 3.4 percent and unemployment is at a five-decade low.

Beijing has tried in vain to recruit France, Germany, South Korea, and other governments as allies against Trump.

Wendy Cutler, a former USA trade negotiator, said the US likely can't realistically settle for anything less than an agreement by Beijing to reform how it does business.

Now China and the United States face a key March deadline for talks to end the damaging trade war, or Washington could proceed with a sharp hike in U.S. tariffs on Chinese goods originally set for January 1 and Beijing could retaliate.

Since the two leaders agreed on a truce on the sidelines of the G20 summit meeting in Buenos Aires, however, there have been small signs of progress - and an absence of new threats from Trump.

"It's not going to be just Apple", Hassett, the chairman of the Council of Economic Advisers, said. Gao Feng, a spokesman for China's Commerce Ministry, said last week that the two sides have "made specific arrangements for face-to-face meetings" and are talking by phone.

Their conflict is occurring against the backdrop of a slowdown in China and an expected US slump that a prolonged trade war could worsen - a fear that's weighing on financial markets.

The makeup of the US team was announced Friday by the trade representative's office. It said the threat of USA tariff hikes was the "dominating factor" for almost half, while others moved due to higher costs or tighter environmental regulation. American exports to China fell nearly 30 percent in October compared to a year earlier. The longer their trade war lasts, the longer companies and consumers will feel the pain of higher-priced imports and exports.

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