Senior Chinese delegates to visit USA for trade war talks

Senior Chinese delegates to visit USA for trade war talks

China and the United States have announced formal trade negotiations for the first time since their fierce dispute led to tariffs on products worth tens of billions of dollars.

A Chinese delegation led by Vice Commerce Minister Wang Shouwen will meet with an American group led by David Malpass later this month.

While Liu and Ross had also been involved in the four previous rounds, US Treasury Secretary Steven Mnuchin absence from the coming round rendered it a lower-level meeting.

"Wang Yiwei, a professor at Renmin University's global studies, said Wang's trip follows the Communist Party's annual closed door meeting at the Beidahe resort, where the trade war was likely to have been one of the main topics of discussion".

Beijing and Washington started a tit-for-tat trade war in July, each imposing 25 per cent tariffs on the other side's goods.

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It's unclear whether the trade talks will take place before or after August 23rd, . which is when Washington is due to activate additional tariffs on 16-billion dollars of Chinese goods, .an action Beijing has vowed to respond in kind to immediately.

The president has argued that the tariffs are necessary in order to secure better trade deals, even though the US has yet to establish any new agreement since the duties were put in place.

The Commerce Ministry said Beijing "reiterates its opposition to unilateralism and trade protectionism and does not accept any unilateral trade restrictions". Beijing retaliated by imposing the same percentage of retaliatory tariffs on 545 USA items, also worth $34 billion.

Trump has insisted on imposing tariffs on China and some USA allies for national security reasons, even as Republicans and Democrats alike have warned that the policy will ultimately hurt American workers. Soybeans and other grains from the United States were hit with extra import tariffs last month, bringing trade nearly to a halt, as part of the tit-for-tat dispute between the world's two largest economies.