Left Menu
Development News Edition

UPDATE 1-China and U.S. to hold trade talks in Beijing on Jan 7-8


UPDATE 1-China and U.S. to hold trade talks in Beijing on Jan 7-8
(Image Credit: Pixabay)

China and the United States will hold vice ministerial-level trade talks in Beijing on Jan. 7-8, as the two sides look to end a dispute that is inflicting increasing pain on both economies and roiling global financial markets. The two nations have been locked in a trade war for much of the past year, disrupting the flow of hundreds of billions of dollars worth of goods and stoking fears of a global economic slowdown.

A working team led by Deputy U.S. Trade Representative Jeffrey Gerrish will come to China to have "positive and constructive discussions" with Chinese counterparts, China's commerce ministry said in a statement on its website. The ministry said the two sides "confirmed" the dates in a phone call on Friday morning, but did not provide other details.

At a summit in Argentina late last year, U.S. President Donald Trump and Chinese President Xi Jinping agreed to a ceasefire, deciding to hold off on imposing more tariffs for 90 days starting Dec. 1 while they attempt to negotiate a deal. 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 Jan. 1 and Beijing could retaliate.

Trump has said talks toward a deal are progressing well, but it is unclear if Beijing will yield to key U.S. demands over trade imbalances, market access, and alleged Chinese abuses of intellectual property. Data this week showed a marked loss of momentum in the world's two largest economies at the end of last year. U.S. factory activity slowed more than expected in December, according to the Institute for Supply Management (ISM), while Chinese data on Monday showed its manufacturing activity contracted for the first time in more than two years.

(With inputs from agencies.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Beware! Maximum cyber criminals eye your personal data

A report of the World Economic Forum revealed that cyber security is increasingly becoming an issue of public security as the majority of cyber criminals are increasingly targetting individual internet users. This requires preventive measur...

WEF 2020: Trump seems politically correct in pulling out from Paris Agreement

If the survey of the World Economic Forum WEF is believed, Trump seems to enjoy the confidence of his people in flaying climate intuitions and climate activists. His preference for economic development over environmental protection not only...

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

Videos

Latest News

UPDATE 1-New Zealand PM Ardern sets Sept 19 as election date

New Zealand Prime Minister Jacinda Ardern on Tuesday called an election for September 19, a contest that will test her popularity which soared after her response to a terror attack last year but has since taken a hit due to economic issues....

FACTBOX-'This is stunning': Quotes from Capitol Hill on Day 6 of Trump impeachment trial

U.S. President Donald Trumps Senate impeachment trial was overshadowed on Monday by an unpublished manuscript from former national security adviser John Bolton that said Trump wanted to freeze U.S. aid to Ukraine to pressure the country for...

Naveen Patnaik approves 'Ekamra Kshetra' rehabilitation and resettlement policy for Bhubaneswar

Chief Minister Naveen Patnaik approved the rehabilitation and resettlement policy for the people likely to be affected under the development projects of Ekamra Kshetra old town of the capital city, Bhubaneswar. Under this Ekamra Kshetra Reh...

China virus death toll jumps to 106; confirmed cases climb to over 4,500

China has reported 24 more deaths from coronavirus epidemic, taking the number of fatalities to 106 as confirmed cases of pneumonia caused by the outbreak stands at 4,515, the health authorities announced on Tuesday. Barring Tibet, all Chin...

Give Feedback