US, China to hold trade talks on Oct 10

The US and China will hold the next round of trade negotiations on October 10, the White House announced on Monday, as the two major trading powers tried to end their bruising trade war.

The American side would be led by US Trade Representative Robert Lighthizer and Secretary of Treasury Steven Mnuchin. The Chinese delegation will be led by Vice Premier Liu He.

Topics of discussion will include forced technology transfer, intellectual property rights, services, non-tariff barriers, agriculture and enforcement, the White House Press Secretary said in a statement.

"The two sides will look to build on the deputy-level talks of the past weeks," White House Press Secretary Stephanie Grisham said.

China and the US have been negotiating a trade deal for more than 10 months now.

President Donald Trump wants to reach an agreement with the Chinese that reduces the massive trade imbalance between the two countries, which last year climbed to over USD 539 billion.

He also wants China to address the issue of theft of intellectual properties of US companies and their forced coercion inside China.

The Trump administration had first imposed tariffs on Chinese imports last year in a bid to win concessions from China, which responded with tit-for-tat tariffs. The escalating dispute between the world's two largest economies has depressed stock prices and poses a threat to the global economy.

Both sides have made conciliatory gestures ahead of the next round of talks, but a deal remains elusive.

The US postponed a further tariff hike on Chinese goods, and China lifted punitive duties on soybeans. The move helps both American farmers and Chinese pig breeders, who use soy as feed and are struggling with a devastating outbreak of African swine fever.