China Says Trade Talks With US Planned For January

US trade delegation to travel to China next month: Report

A US trade team will travel to Beijing the week of January 7 to hold talks with Chinese officials, Bloomberg reported on Wednesday, citing two people familiar with the matter. The group will also include Treasury Undersecretary for International Affairs David Malpass, the people said.

Background: The United States and China have not held high-level talks to resolve their ongoing disputes on trade since U.S. President Donald Trump and Chinese President Xi Jinping met over dinner at the G-20 Summit in Argentina on December 1.

Treasury Secretary Steven Mnuchin did tell Bloomberg the two sides have had phone discussions since then.

At the meeting in Buenos Aires, the two leaders agreed to a 90-day truce in the trade war between the world's two largest economies.

In response, China said it will suspend additional tariffs on US-made vehicles and auto parts for the same period and has resumed purchasing United States soybeans for the first time in six months, even though hefty tariffs on USA cargoes remain in place.

China's customs administration approved US rice imports on Thursday, a move that comes during a 90-day tariff truce between the two countries, which are engaged in a bruising trade war.

Trump agreed to postpone tariff hikes on $200 billion of Chinese imports planned for January 1. Visit MarketWatch.com for more information on this news.

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China and the USA have made specific arrangements to hold face-to-face discussions in addition to the intensive telephone conversations they have been having, Gao was cited as saying by Efe news.

Publicly, Trump is pushing the Asian nation to reduce trade barriers and stop alleged theft of intellectual property.

"The failure of cabinet-level officials to even meet in the first half of the 90-day period makes it impossible to anticipate fundamental change on the Chinese side", he said.

"The Chinese and U.S. economic and trade teams have always maintained close communication", said commerce ministry spokesman Gao Feng at a regular briefing.

Beijing so far has pledged to resume buying American soybeans and to at least temporarily lower retaliatory tariffs on US autos.

China's flurry of policy announcements since the Argentina meeting between Trump and Xi happened despite Canada's arrest of a top Huawei Technologies executive at the U.S.'s request, and despite Xi delivering a defiant speech declaring China wouldn't be dictated to by anybody. He said that March 1 was a "hard deadline" that was endorsed by Trump, Bloomberg reported.

"When I talk to the president of the United States he is not talking about going beyond March".

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