31.
07.18
15:20

US and China are looking for solutions to defuse a trade dispute

The US and China are again trying to initiate talks aimed at preventing a full-blown trade war between the two largest economies in the world. This is reported by the intelligence service Bloomberg.
Representatives of US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He hold private talks to look for ways to resume negotiations, the anonymous informants said.
A concrete timetable and an official format do not exist. However, there was agreement that further talks would have to take place.
Negotiations to settle the conflict have stalled for weeks and both sides are refusing to move. According to an anonymous source, high-level US talks on Trump's trade relations with China are taking place this week.
The US stock exchanges reacted with a strong price increase
The next wave of US tariffs will start on Wednesday, with the possible imposition of tariffs on another $ 16 billion of Chinese imports. Beijing officials have announced they will respond to US products with the same tariffs.
Statements from US and Chinese officials have lately left little evidence that a restart of negotiations could be in sight. Lighthizer said last week that China's trade tensions are "a chronic problem" while China's World Trade Organization representative accused the US of "blackmail".
The two sides held three formal talks, beginning with a delegation in Beijing in May led by Mnuchin. After Liu visited Washington later this month, the United States issued a joint statement pledging, inter alia, to reduce the US trade deficit with China. But within days, President Donald Trump himself refrained from the deal and said that talks "probably would have to use a different structure."
The talks ended after the Trump administration imposed $ 34 billion in tariffs on Chinese imports this month. This measure would undo the promises made in the negotiations. Beijing responded with its own tariffs.
Trump's mission to reduce US trade deficits through the threat of tariffs has led him into conflict with China, causing turmoil on financial markets and raising fears of a global trade war.
Source: Bloomberg
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