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China, U.S. Hope to Resolve Trade Impasse by November
Trade negotiators are setting up talks in hopes of resolving the developing trade war between the U.S. and China before the leaders of the two country meet in November.
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Trade negotiators are setting up talks in hopes of resolving the developing trade war between the U.S. and China before the leaders of the two country meet in November.
A nine-member team from Beijing will meet with U.S. trade officials on Aug. 22-23, The Wall Street Journal reports. It says China top leader, General Secretary Xi Jinping, has told his staff to try to stabilize relations between the two countries as soon as possible.
The talks could fail if the U.S. follows through with threats of additional tariffs on Chinese goods. The Trump administration has imposed taxes on $34 billion worth of products from China and has indicated it will add $15 billion more next week. China has responded to U.S. tariffs as they take effect with identical-value taxes on products, including cars, from the U.S.
The White House also has scheduled hearings next week on Trump’s proposal to raise U.S. tariffs on Chinese goods to $200 billion unless the country agrees to ease rules on foreign investment and halt what Trump describes as theft of U.S. technologies.
U.S. trade negotiators complain that China so far has made no real effort to address either issue.
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