U.S.-China Trade Talks

trade surplus

CBJ — U.S. and Chinese envoys will get together early next month for further talks aimed at ending a massive multi-billion dollar tariff war that is already having an economic ripple effect throughout the world.

Within the past couple of days there has been room for optimism that progress is being made simply because the two sides are willing to meet.  However, there had been no sign of progress since Presidents Donald Trump and Xi Jinping agreed in June to resume deadlocked negotiations about trade and technology.

The agreement on a date came in a phone call conducted by the chief Chinese envoy, Vice Premier Liu He, with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

U.S. tariffs of 25% imposed previously on $250 billion of Chinese goods are due to rise to 30% at the start of next month.

China has imposed or announced penalties on a total of about $120 billion of U.S. imports.

@CanBizJournal

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