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."



5G will be the key driving force for COVID-19 recovery: Here's how?

... ...

Canada’s COVID-19 pitfalls highlight need for integrated health information system

In the globalized world of today where outbreaks can spread far and wide within a matter of days, a global-level integrated health information system is ideal but Canadas provincial barriers show that the country lags much behind in deployi...

Pandemic must be impetus, not obstacle, for clean water access

To make matters worse, there are suspicions that the inadequacy of wastewater treatment methods in California, the rest of the USA, and indeed around the world may help to propagate the disease even more widely. ...

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 ...


Latest News

'Canary in the coal mine': Greenland ice has shrunk beyond return, study finds

Greenlands ice sheet may have shrunk past the point of return, with the ice likely to melt away no matter how quickly the world reduces climate-warming emissions, new research suggests. Scientists studied data on 234 glaciers across the Arc...

Israel hits Gaza militant sites after incendiary balloons

Israeli aircraft and tanks hit several militant sites in the Gaza Strip late Friday, responding to explosive-laden incendiary balloons launched across the frontier into Israeli territory. Palestinian medics said a woman and a 3-year-old gir...

EXCLUSIVE-U.S.-China trade deal review postponed as China ramps up farm, energy purchases

The United States and China have delayed a review of their Phase 1 trade deal initially slated for Saturday, sources familiar with the plans told Reuters, citing scheduling conflicts and the need to allow time for more Chinese purchases of ...

UN launches $565 million appeal for Beirut victims

The United Nations launched a 565 million appeal Friday to help Lebanese people affected by the explosion at Beiruts port with immediate humanitarian assistance and initial recovery efforts. U.N. spokesman Stephane Dujarric said the money w...

Give Feedback