US, China to resume talks in bid to avert trade war

US, China to resume talks in bid to avert trade war

Kudlow told Breitbart News Saturday radio listeners last weekend that the team never expected to leave China with a trade deal but that talks did go more positively than some media outlets have reported.

The controversy comes as Trump appears increasingly open to smoothing over differences with China in an attempt to avert a trade war before the midterm elections.

China has promised to retaliate in equal measure, targeting USA soybeans, aircraft, autos and other goods for additional tariffs, causing US farm commodity prices to fall. Navarro is participating in some of the meetings this week, but Mnuchin has established himself as the key negotiator.

"We do not want to see the escalation of the trade frictions between China and the U.S.", Gao said at a weekly briefing.

China attaches great importance to the role of the U.S. Congress, and is ready to strengthen exchanges with the U.S. legislature, Liu said.

Trump on Monday had defended his decision to revisit penalties on ZTE for flouting USA sanctions on trade with Iran, in part by saying it was reflective of the larger trade deal the United States is negotiating with China.

The company faced collapse as a result and Mr Trump said on Sunday he and Chinese President Xi Jinping were exploring ways to get the company "back into business fast", and ordered the Commerce Department to take action.

"Nothing has happened with ZTE except as it pertains to the larger trade deal", Mr Trump said on Twitter.

More news: Unknown source ramps up ozone-destroying CFC production

Trump on Monday had defended his decision to revisit penalties on ZTE for flouting USA sanctions on trade with Iran, in part by saying it was reflective of the larger trade deal the United States is negotiating with China.

Uncertainty over relations between the US and China has roiled financial markets and raised concerns among businesses anxious about a trade war.

The Washington talks will start as USTR finishes up public hearings on the first batch of USA tariffs on $50 billion worth of Chinese goods proposed as punishment for alleged violations of US intellectual rights. But another senior White House official said that while the three men won't be part of the official delegation, they will participate in the negotiations.

"We have not seen China's demands yet, which should be few in that previous U.S. Administrations have done so poorly in negotiating". However, the administration has not publicly stated a time frame for when it will make its final decision.

Liu told one group of House lawmakers in a meeting Wednesday that he "recognizes there are problems" in the U.S.

"His hope for this trip was to begin to address the trade imbalance, increasing demand of Chinese consumers for USA products as well as to begin to take steps on the structural reforms that have been raised", Brady said after a roughly 45-minute meeting with the Chinese delegation.

The two nations' shared interests far outweigh their differences, said Liu, adding that both countries will win if they work together, and lose if they are pitted against each other. "So, it's really hard to know at this point what to expect from an outcome because it could be anything - or nothing, I guess", she said.

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