Left Menu
Development News Edition

ECONOMY&BUSINESS-US trade negotiators will travel to China in 'very near future': official

PTI | Washington DC | Updated: 13-07-2019 00:43 IST | Created: 12-07-2019 22:33 IST
ECONOMY&BUSINESS-US trade negotiators will travel to China in 'very near future': official
Image Credit: Flickr

US officials will travel to China in the "very near future" to resume trade negotiations that collapsed in May, a White House official said Friday. President Donald Trump and China's leader Xi Jinping agreed to "fully engage" on trade when they met in Osaka at the end of June, and since then trade officials have spoken by phone, White House trade advisor Peter Navarro said on CNBC.

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will go to Beijing "in the very near future and we're going to have constructive talks to deal with these significant structural issues," Navarro said. The trade dispute has roiled global financial markets and undermined business confidence as Washington and Beijing have lashed out with punitive tariffs on about USD 360 billion in goods.

The sides appeared to be close to a deal but Trump accused China of reneging on its commitments, scuttling the talks until the leaders met on the sidelines on Group of 20 summit in Osaka, where Navarro said they made a "strong commitment" to restart negotiations. Trump at that meeting agreed to hold off on his threat to hit China with another round of steep tariffs that would cover nearly all the goods exported to the US market.

Lighthizer and Mnuchin spoke with Chinese Vice Premier Liu He and Commerce Minister Zhong Shan by phone last week, but officials have not provided any details on the status or the topics discussed other than to say they were constructive. "We are, in my judgment, in a quiet period for the negotiations. My advice for investors is to be patient with this process," Navarro said.

"Don't believe anything you read in either the Chinese or the US press about these negotiations unless it comes from the mouths of either the President or Ambassador Lighthizer."


TRENDING

OPINION / BLOG / INTERVIEW

3D printing and the future of manufacturing post COVID-19

The on-demand, customizable, and localized manufacturing of product components facilitated by 3D printing has the potential to redefine manufacturing but there are certain technical, mechanical, and legal limitations that, unless ...

How UK’s 'best prepared' healthcare system failed to gauge COVID-19

The UK is proud of their public health system and its unlike any other country as around 90 percent of British public supports the founding principles of National Health Service. But without accurate data being available to stakeholders in ...

Poor on IHR capacity progress in 2019, WHO says Cambodia tops COVID-19 response

Despite being in proximity to Hubei, the original epicenter of COVID-19 pandemic, Cambodia has reported just 226 confirmed cases and zero deaths. After seeing the data, WHO appreciated Cambodias healthcare information system but experts dou...

Loopholes in Healthcare Information System may have failed Singapore COVID-19 model

In the initial days of the COVID-19 outbreak, Singapore was in the limelight for its effective healthcare system and pandemic response plan. However, Singapore has now joined the list of the worst-hit nations and the situation is even worse...

Videos

Latest News

What you need to know about the coronavirus right now

Heres what you need to know about the coronavirus right now One death every 15 secondsLatin America surpassed Europe on Tuesday to become the region with the highest novel coronavirus death toll, according to a Reuters tally. The region has...

Wait of centuries is over, India PM says, as Hindu temple construction begins

Prime Minister Narendra Modi on Wednesday launched the construction of a Hindu temple on a site that has been contested by Muslims for decades in a dispute that has sparked some of Indias most bloody communal violence.The Supreme Court rule...

Udupi missing votary of Ram Janmabhoomi movement

As Prime Minister Narendra Modi laid the foundation stone for Ram Mandir at Ayodhya on Wednesday, the temple town of Udupi in southern Karnataka is missing its most beloved seer, Swami Vishwesha Teertha of Pejawar mutt, who was in the foref...

Lord Ram revered in many countries like Indonesia, temple will inspire humanity: PM Modi

Lord Ram is revered in several countries, including Indonesia which has the largest Muslim population, and the temple here will serve as an inspiration for the entire humanity till eternity, Prime Minister Narendra Modi said on Wednesday. A...

Give Feedback