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US rejects advance trade meeting with China: reports

AFP  |  Washington 

The has rejected Beijing's offer to hold preparatory talks in ahead of next week's high-level trade delegation, according to

The reports by and sent US stocks sharply lower, reviving fears that efforts to resolve the US-trade war could fail. Citing a lack of progress on some of the thorniest issues in the trade dispute -- including allegedly and structural reforms to China's economy -- cancelled plans for a face-to-face preparatory meeting this week, according to

Chinese is due to travel to the next week as the two sides work to resolve their disagreements by March 1, when a 90-day truce is due to expire, allowing US import duties on Chinese goods to increase sharply.

The and did not immediately respond to requests for comment.

The Chinese economy last year posted its slowest annual growth in nearly three decades, according to official figures published Monday in

The trade war has weighed heavily on the outlook for the world's second-largest economy.

Already lower due to downgraded global economic forecasts, Wall Street fell even further after the reports were published, with the benchmark Dow Jones Industrial Average down 1.6 percent shortly before 2000 GMT.

Soy and corn futures also fell on fears was less likely to resume imports.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 23 2019. 02:05 IST