SEVERE WX : Severe Thunderstorm Warning View Alerts

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
Clear
75° wxIcon
Hi: 89° Lo: 66°
Feels Like: 75°
Kokomo
Overcast
73° wxIcon
Hi: 85° Lo: 64°
Feels Like: 73°
Rensselaer
Broken Clouds
75° wxIcon
Hi: 73° Lo: 63°
Feels Like: 75°
Fowler
Broken Clouds
75° wxIcon
Hi: 84° Lo: 64°
Feels Like: 75°
Williamsport
Overcast
71° wxIcon
Hi: 88° Lo: 66°
Feels Like: 71°
Crawfordsville
Overcast
70° wxIcon
Hi: 85° Lo: 66°
Feels Like: 70°
Frankfort
Scattered Clouds
72° wxIcon
Hi: 86° Lo: 65°
Feels Like: 72°
Delphi
Scattered Clouds
75° wxIcon
Hi: 88° Lo: 65°
Feels Like: 75°
Monticello
Scattered Clouds
75° wxIcon
Hi: 82° Lo: 64°
Feels Like: 75°
Logansport
Scattered Clouds
70° wxIcon
Hi: 83° Lo: 63°
Feels Like: 70°
WLFI Radar
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 50300

Reported Deaths: 2748
CountyConfirmedDeaths
Marion11920692
Lake5432248
Elkhart347058
Allen2902133
St. Joseph205169
Hamilton1665101
Cass16449
Hendricks1446100
Johnson1325118
Porter80238
Tippecanoe7599
Clark68144
Vanderburgh6816
Madison67264
LaPorte60527
Howard59458
Bartholomew59345
Kosciusko5704
Marshall5308
Noble50128
LaGrange4829
Jackson4783
Boone47444
Delaware46952
Hancock46036
Shelby43525
Floyd40444
Morgan33631
Monroe32928
Grant30926
Dubois2976
Henry29717
Montgomery29720
Clinton2893
White26810
Decatur25532
Dearborn25423
Lawrence25225
Vigo2478
Warrick24329
Harrison21722
Greene19332
Miami1922
Jennings17912
Putnam1728
DeKalb1674
Scott1639
Wayne1536
Daviess15017
Perry1459
Orange13723
Steuben1362
Jasper1332
Franklin1278
Ripley1277
Wabash1152
Carroll1132
Gibson1132
Fayette1057
Whitley1045
Newton10010
Starke983
Huntington932
Randolph794
Wells791
Jefferson782
Fulton731
Jay680
Washington681
Knox670
Clay665
Pulaski661
Rush613
Posey550
Owen521
Benton510
Spencer501
Adams491
Sullivan471
Brown431
Blackford402
Fountain352
Crawford330
Tipton321
Switzerland300
Martin240
Parke230
Ohio220
Vermillion200
Warren151
Union130
Pike110
Unassigned0193

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