U.S. and Chinese negotiators are meeting today and friday met , for the first time since late July to try to ease, a bitter 15-month trade war and business groups expressed optimism.
That they might be able to find enough common ground to delay a U.S. tariff hike scheduled for next week.
President Donald Trump has scheduled a meeting with China’s top trade official, Liu He, on Friday as the two countries resume negotiations aimed at ending ongoing trade tensions between the world’s two largest economies.
We did very well, Trump told reporters at the White House on Thursday following the latest round of talks.
We’ll have another one tomorrow. Earlier Thursday, Trump raised questions about his own commitment to reaching a new trade agreement at this stage of the negotiations. “
They want to make a deal, but do I?” he wrote on Twitter.
Vice Premier Liu He is leading the team of Chinese negotiators taking part in the latest round of trade talks this week in Washington. U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are leading the negotiations on behalf of the Trump administration.
The mood surrounding the talks had soured earlier this week when the U.S. government blacklisted 28 Chinese public security bureaus, technology and surveillance firms, including video surveillance gear maker Hikvision.
Over allegations of abuses of Muslim minorities in China. Washington also restricted visas for certain Chinese officials over the same issue and Beijing was said to be planning to tighten visa restrictions for U.S. nationals with ties to anti-China groups.
But Chinese officials indicated more willingness to negotiate and avoid further escalation, according to Chinese state media reports.
“The Chinese side came with great sincerity, willing to cooperate with the U.S. on the trade balance, market access and investor protection,” Xinhua quoted Liu as saying on Thursday.
Washington lift sanctions on Chinese tech companies and warned Wednesday it will “resolutely safeguard” the country’s interests. “We strongly urge the United States to immediately stop making irresponsible remarks on the issue of Xinjiang, stop interfering with China’s internal affairs and remove relevant Chinese entities from the Entity List as soon as possible,” said a ministry statement. “China will take all necessary measures to resolutely safeguard Chinese interests. ”The ministry gave no details of possible retaliation. Despite the spike in tension, the ministry said Tuesday a trade delegation was going ahead with a trip to Washington this week for talks aimed at ending a tariff war. The sanctions announced Monday restrict sales of U.S. technology to a group of Chinese companies working on facial recognition, artificial intelligence and other advanced products. Those technologies are part of the ruling Communist Party’s industry development plans.