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Sino-US trade talks to be held in China next week: Beijing

Sino-US trade talks to be held in China next week: Beijing

A USA delegation is due to travel to Beijing to hold negotiations Monday, but Trump said he and Chinese leader Xi Jinping already have been actively engaged in the talks.

The reports also said that the US team would be headed by Deputy US Trade Representative Jeffrey Gerrish and would include Under Secretary of the Treasury for International Affairs David Malpass. Beijing responded by imposing penalties on $110 billion of American goods, slowing down customs clearance for US companies and suspending issuance of licenses in finance and other industries.

A new strain in the US-China relationship emerged in December when Canada announced it had carried out a US request to arrest the chief financial officer of Huawei, one of China's top tech companies.

The New York Federal Reserve bank said in an analysis Friday that "higher import tariffs had immediate impacts on U.S. domestic prices", raising the consumer and producer prices by 0.3 percentage points higher than they would otherwise have been.

In the same year, late paramount leader, often credited with China's "Reform and Opening" policy which led to its economic transformation, met U.S. president in the United States.

The European Union filed its own challenged in the World Trade Organization in June against Chinese regulations the 28-nation trade bloc said hamper the ability of foreign companies to protect and profit from their own technology. For the 2018 full year, Apple shares fell 7 percent, though they are up about 24 percent since Trump took office in January 2017. "China wants the trade war to end, and they are offering signs of that", said a USA source familiar with the discussions. But economists say that is too little time to resolve the sprawling disputes that bedevil U.S. The two sides will discuss how to implement consensus reached by leaders of both countries in Argentina, it said.




Hassett said the recent slowdown in China's economy is equivalent to a recession in the U.S. However, the disruptions to U.S. businesses that are rattling the market are only temporary, he said, and it will be back to business as usual once a deal is reached. The lower level of these discussions signals that the two sides are still far apart on various issues.

The Commerce Ministry confirmed that Gerrish would lead the USA delegation at the talks.

The makeup of the US team was announced Friday by the trade representative's office.

US Trade Representative Robert Lighthizer is expected to meet Chinese Vice-Premier Liu He, President Xi's top economic adviser, later this month, a source said.

"That puts a lot of pressure on China to make a deal", he said.

Some manufacturers that serve the United States have shifted production to other countries. It said the threat of US tariff hikes was the "dominating factor" for almost half, while others moved due to higher costs or tighter environmental regulation.

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