USA officials head to China for high-level trade talks next week - Beijing
00:15, Jan 8, 2019
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United States trade negotiators will "optimistically and constructively communicate with (the) Chinese delegation on the important agreements achieved by the two leaders during the meeting in Argentina", China's Commerce Ministry said in a statement, without giving further details.
Hassett said Asian economies including that of China have been slowing quite a bit since last spring and that China is "feeling the blow" of USA tariffs. Beijing responded by imposing penalties on $110 billion of American goods, slowing down customs clearance for US companies and suspending issuance of licenses in finance and other industries.
The US delegation is to be led by US Deputy Trade Representative Jeffrey Gerrish, it said without giving other details about the agenda or participants.
In the same year, late paramount leader, often credited with China's "Reform and Opening" policy which led to its economic transformation, met U.S. president in the United States. "China wants the trade war to end, and they are offering signs of that", said a United States source familiar with the discussions.
They hope to have "positive and constructive discussions", said a Chinese foreign ministry spokesman, Lu Kang.
Both governments face economic pressure to reach a settlement.
U.S. President Donald Trump has again expressed confidence that he can put an end to the trade war with China which is jolting the global economy. For the 2018 full year, Apple shares fell 7 percent, though they are up about 24 percent since Trump took office in January 2017. Some U.S. demands would require structural reform that may be unpalatable for Chinese leaders.
In a December 1 meeting on the sidelines of the G20 Summit in Buenos Aires, Xi and Trump agreed on a 90-day truce to negotiate their differences in the ongoing trade dispute.
USTR said the U.S. delegation would also include under secretaries from the U.S. Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the White House.
Chinese officials are unhappy with USA curbs on exports of "dual use" technology with possible military applications. While USA imposed tariffs worth $250 billion on China since July this year, China has imposed tariffs worth $110 billion on goods imported from USA.
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