On Wednesday, the top representative from China and the United States are arranging to resume trade talks next week with the object to resolve a year-long trade war between the two largest economically developed countries, informed Trump Administration officials.
The White House Economic Adviser Larry Kudlow told sources that “those talks will continue in earnest this coming week.”
An official from the Office of the United States Trade Representative claims that the two nations were in the process of scheduling a principal-level phone discussion with officials of China for next week.
The main negotiator on Chinese side is Vice Premier Liu He, and from the US side are Treasury Secretary Steven Mnuchin, and US Trade Representative Robert Lighthizer.
Both the sides have already been in communication over phone since the last week, when the United States President Donald Trump and Chinese President Xi Jinping decided to re-schedule talks, which had delayed in May.
Kudlow was uncertain about the timing for re-scheduling face-to-face discussion, claims these would begin “soon” and its announcement would be forthcoming.
He continued, “I don’t know precisely when. They’re on the phone. They’re going to be on the phone this coming week and they’ll be scheduling face-to-face meetings.”
Talks between both the countries broke down in May, after the US officials has accused China of moving back from commitments that it had made earlier in the text of an agreement, which negotiators claims was about to complete.
Beijing was charged by Washington of permitting intellectual property theft and forcing US-based companies to share their upgraded technology with China in order to run business in the country. It further asked China to change its laws on those as well as on other issues. China rejected such practices and unenthusiastic to make any legal changes.
Both the nations have levied tariffs on other, but President Trump made two major allowances at the meeting with President Jinping to resume talks, and agreed not to issue tariffs on some over $300 billion in additional imports by China and also to less restriction on Huawei.
The US has 25 percent tariffs on $250 billion of Chinese products now ranges from semi-conductors to furniture.
Kudlow said, “We’ve been accommodative. We will not lift tariffs during the talks,” adding that “We are hoping that China will toe its end of it by purchasing a good many of American imports.”