China: Trade talks with the US are back on

China says new talks with the United States are set to take place amid the trade war between the two economi...

Posted: Aug 16, 2018 12:38 PM
Updated: Aug 16, 2018 12:38 PM

China says new talks with the United States are set to take place amid the trade war between the two economic superpowers.

The Chinese Commerce Ministry announced Thursday that a delegation will travel to the United States later this month for talks. The visit is at the invitation of the United States, the ministry said in a short statement.

Previous rounds of talks between the two countries failed to make much progress, resulting in the outbreak of a trade war that has already hurt businesses on both sides of the Pacific. The countries imposed steep tariffs on billions of dollars of each other's exports this summer and have threatened more.

Related: Boeing CEO: US-China trade war a concern for global aerospace

The Chinese delegation will be led by Vice Commerce Minister Wang Shouwen, who will hold talks with David Malpass, the US Treasury Department's under secretary for international affairs, according to the Chinese statement.

It's highly uncertain how much headway the negotiators will be able to make, with the two governments far apart on how to address many of the key US concerns. Those include the huge trade imbalance between the two countries, Chinese efforts to get hold of American technology and Beijing's ambitious industrial policies.

The case for China being "willing to give enough concessions that the US government backs down is not convincing," Louis Kuijs, head of Asia economics at research firm Oxford Economics wrote in a note to clients last week.

The officials leading the new talks are less senior than in previous rounds, which involved Treasury Secretary Steven Mnuchin and Commerce Secretary Wilbur Ross on the US side and Vice Premier Liu He, a top adviser to President Xi Jinping, for China.

The Chinese government statement Thursday didn't say what topics the talks would cover. It reiterated China's stance that it opposes "unilateralism and trade protectionism."

The US Treasury Department wasn't available for comment outside of regular office hours.

The last round of formal trade negotiations between the two sides took place in early June, when Commerce Secretary Wilbur Ross traveled to Beijing. But those unsuccessful talks were overshadowed by the Trump administration's announcement days earlier that it was going ahead with its plan to impose 25% tariffs on $50 billion worth of goods from China.

Beijing had vowed to retaliate, and the two governments introduced the first wave of tariffs, on $34 billion of each other's exports, in early July. Another tit-for-tat round, on $16 billion of each other's products, is scheduled for August 23.

Escalating the clash, the Trump administration has announced plans for yet more tariffs, on about $200 billion of Chinese exports. Beijing has said it will fire back with new tariffs on $60 billion of US goods.

-- Nanlin Fang contributed to this report.

West Lafayette
Broken Clouds
63° wxIcon
Hi: 64° Lo: 50°
Feels Like: 63°
Kokomo
Overcast
61° wxIcon
Hi: 63° Lo: 47°
Feels Like: 61°
Rensselaer
Broken Clouds
57° wxIcon
Hi: 63° Lo: 47°
Feels Like: 57°
Fowler
Broken Clouds
57° wxIcon
Hi: 61° Lo: 47°
Feels Like: 57°
Williamsport
Scattered Clouds
63° wxIcon
Hi: 63° Lo: 48°
Feels Like: 63°
Crawfordsville
Broken Clouds
58° wxIcon
Hi: 64° Lo: 47°
Feels Like: 58°
Frankfort
Overcast
63° wxIcon
Hi: 63° Lo: 46°
Feels Like: 63°
Delphi
Overcast
62° wxIcon
Hi: 64° Lo: 48°
Feels Like: 62°
Monticello
Overcast
62° wxIcon
Hi: 65° Lo: 48°
Feels Like: 62°
Logansport
Overcast
61° wxIcon
Hi: 63° Lo: 46°
Feels Like: 61°
Calm and Cool Day Ahead.
WLFI Radar
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 118322

Reported Deaths: 3591
CountyConfirmedDeaths
Marion21502767
Lake10688323
Elkhart6707111
St. Joseph6619113
Allen6330205
Hamilton4938109
Vanderburgh378131
Hendricks2766124
Monroe265536
Tippecanoe256613
Johnson2352124
Clark225957
Porter219947
Delaware200162
Cass19559
Vigo186827
Madison170375
LaPorte149141
Floyd139664
Warrick138242
Howard132663
Kosciusko125917
Bartholomew118457
Marshall101524
Dubois99919
Boone99146
Grant95134
Hancock94643
Noble93132
Henry81226
Jackson7739
Wayne77014
Morgan73438
Daviess68028
Shelby68029
Dearborn67528
LaGrange64011
Clinton62314
Harrison59224
Putnam58411
Gibson5355
Knox5289
Lawrence51629
Montgomery51121
DeKalb48811
White48714
Decatur45939
Miami4394
Greene42735
Fayette42313
Jasper4012
Scott39011
Steuben3907
Posey3460
Sullivan33812
Jennings31612
Franklin31325
Clay3085
Ripley3078
Orange28824
Whitley2826
Carroll27813
Adams2763
Wabash2728
Starke2717
Washington2701
Wells2674
Spencer2633
Jefferson2503
Huntington2473
Fulton2442
Tipton22822
Randolph2238
Perry22113
Jay1920
Newton17411
Owen1711
Martin1680
Pike1641
Rush1574
Vermillion1310
Fountain1292
Blackford1213
Pulaski1141
Crawford1100
Parke1072
Brown1043
Benton870
Ohio797
Union790
Switzerland690
Warren411
Unassigned0226

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events