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China and US to hold ministerial level trade talks in Beijing next week

Now, the countries face a March deadline for talks to end the damaging trade war, or Washington could proceed with a sharp hike in US tariffs and Beijing could retaliate

Reuters 

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and the will hold vice ministerial level trade talks in on Monday and Tuesday, as the two countries face pressure to end a trade war that is hurting the world's two top economies and roiling global financial markets.

For much of the past year, the trade war has disrupted the flow of hundreds of billions of dollars worth of goods and hit the global showed slowed in both countries, and companies such as and said the trade battle had hit earnings.

A team led by Deputy US Trade will come to to have "positive and constructive discussions" with Chinese counterparts, China's commerce ministry said in a statement on its website.

In a separate statement on Friday, USTR said the delegation will also include Under Secretaries from the US Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the

Neither statement provided more details about the talks, but in an interview with Fox News Business Network, said the discussions will examine "the whole story," including commodities, agriculture and industrial capital goods.

At a summit in late last year, US and Chinese agreed to hold off on additional tariffs for 90 days while they attempted to negotiate a deal.

Now, the countries face a March deadline for talks to end the damaging trade war, or could proceed with a sharp hike in US tariffs and could retaliate.

Trump has said talks are progressing well, but it remained unclear if will yield to US demands for more open markets, forced and industrial subsidies. Meeting some of those demands would require difficult structural reform.

"We know what sort of changes we need. Now, the question is can we negotiate these changes and can we do so with enforcement (and) with timetables," Kudlow said on Friday.

USTR said in the statement the delegation will include Gregg Doud, Under for Trade and Foreign Agricultural Affairs Ted McKinney, Under for Trade Gilbert Kaplan, for Steven Winberg, and Treasury's Under Affairs

First Published: Fri, January 04 2019. 22:22 IST
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