China’s Vice Commerce Minister to visit United States for trade talks
17 August, 2018, 13:59 | Author: Lora Ball
The Chinese government did not say what topics would be discussed at the upcoming meeting, but reiterated Beijing's stance that it opposes "unilateralism and trade protectionism".
The visit is at the invitation of the United States, the ministry said in a short statement.
News of the meeting boosted the Chinese yuan and helped cap losses in China's stock markets.[CNY/][.SS].
A Chinese delegation led by Vice Commerce Minister Wang Shouwen will meet with an American group led by David Malpass later this month. Beijing retaliated by imposing the same percentage of retaliatory tariffs on 545 USA items, also worth $34 billion.
But the discussions failed to reduce tensions as the United States slapped tariffs on $34 billion worth of Chinese goods in early July, triggering an immediate dollar-for-dollar retaliation from Beijing.
President Trump has declared that a trade war with Beijing would be "easy to win" and that he was willing to impose tariffs on up to $500 billion of Chinese products after declaring that a trade war with Beijing...
Mr Trump said in a tweet in April: "Russia and China are playing the Currency Devaluation game as the USA keeps raising interest rates".
China is sending a trade envoy to Washington in a renewed effort to end a worsening tariff dispute that has raised worries it will chill global economic growth.
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But less than 10 days later, the White House said it would push forward on planned tariffs on $50 billion of Chinese imports and press ahead with restrictions on investments by Chinese companies in the U.S.
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