Categories: World News

US, China Seek To Revive Trade Talks – Trump’s Aide

Workers unload bags of chemicals at a port in Zhangjiagang in China’s eastern Jiangsu province. 
Johannes EISELE / AFP

 

Washington and Beijing are working actively to revive negotiations aimed at ending the trade war that has rattled world markets, Donald Trump’s chief economic advisor said Sunday.

If teleconferences between both sides’ deputies pan out in the next 10 days “and we can have a substantive renewal of negotiations,” Larry Kudlow said on “Fox News Sunday,” “then we are planning to have China come to the USA and meet with our principals to continue the negotiations.”

That left it uncertain, however, whether a Chinese delegation would be coming to Washington next month, as a White House spokesperson predicted after US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin left a round of trade talks in Shanghai in July.

READ ALSO: Gibraltar Rejects US Demand To Seize Iranian Oil Tanker

But Kudlow emphasized that phone conversations held last week to follow up on the Shanghai talks — involving Lighthizer, Mnuchin and two senior Chinese negotiators, Vice Premier Liu He and Commerce Secretary Zhong Shan — were “a lot more positive than has been reported in the media.”

World financial markets have been on edge amid a series of signs pointing to a serious slowing of the global economy — notably because of the trade war between the world’s two largest economies — and have been reacting strongly to even the slightest new indicator.

The US-China negotiations began in earnest in January and seemed at first to make substantial progress, raising hopes that a trade deal could be rapidly reached.

But during the spring, the US president abruptly called off the talks, saying the Chinese had reneged on earlier commitments.

The discussions resumed again in June at the highest levels in the margins of the G-20 summit meeting in Osaka, Japan between Trump and his Chinese counterpart Xi Jinping.

But markets were hit with a fresh surprise when Trump suddenly announced that as of September 1 he was imposing punitive 10-percent tariffs on $300 billion in Chinese goods that had so far been spared.

And then came the announcement from the White House that Trump — already campaigning for re-election in 2020 — had decided to delay imposing the tariffs until December 15 so as not to cast a shadow on the Christmas shopping plans of Americans.

AFP

Ignatius Igwe

Disqus Comments Loading...

Recent Posts

  • Headlines

Nigeria Records 603 New COVID-19 Cases, 393 More Recover

    Nigeria has recorded 603 more coronavirus (COVID-19) cases, raising the nation’s total confirmed infections above the 28,000 mark.…

1 hour ago
  • Coronavirus

109 Nigerians Evacuated From India

    One hundred and nine more Nigerians stranded in India as a result of the coronavirus (COVID-19) pandemic have…

2 hours ago
  • Sports

Chelsea Win Holds Off Rampant Man Utd In Race For Premier League Top Four

    Chelsea held on to their place in the Premier League's top four by bouncing back to beat Watford…

2 hours ago
  • Coronavirus
  • In Pictures

PHOTOS: 335 Stranded Nigerians Return From U.S.

    More Nigerians stranded outside the country have arrived at the Murtala Mohammed International Airport in Lagos. In continuation…

2 hours ago
  • World News

Virus, Protests, Trump’s Angry Words Darken US July 4th Weekend

    The United States marked its Independence Day on Saturday in a somber mood, as a record surge in…

2 hours ago
  • Local

Buhari Appoints Yakubu Pam As NCPC Executive Secretary

    President Muhammadu Buhari has approved the appointment of Reverend Yakubu Pam as the Executive Secretary of the Nigerian…

3 hours ago