U.S., China could settle immediate trade issues - Ross on CNBC

U.S., China could settle immediate trade issues - Ross on CNBC

U.S., China could settle immediate trade issues - Ross on CNBC

Last month, Trump and Chinese leader Xi Jinping met and agreed to hold off on further tariffs for 90 days.

The article claimed that the trade war affected the 2018 US midterm election results-echoing a propaganda ploy by Beijing that the trade tariffs have impacted business for farmers in USA heartland states that voted for Trump during the presidential elections.

Economic data show the Chinese economy has suffered since Trump previous year slapped stinging tariffs on more than US$250 billion in Chinese imports.

European markets retreated Monday as the focus turned to trade issues, with USA and Chinese officials discussing the tariffs dispute that has raised concerns about global growth.

Date 7 January 2019 U.S. tariffs have hurt China, giving Beijing a reason to pursue trade talks with Washington, says Donald Trump.

Asked about the timing of the operation during trade talks, Lu said resolving issues would help both countries and the world. "Their economy's not doing very well", he told reporters on Sunday. "I don't think it will proceed that fast". Beijing responded by imposing penalties on $110 billion of American goods, slowing customs clearance for US companies and suspending issuing licenses in finance and other businesses.

A US delegation arrived in Beijing on January 7 to conduct in-person trade negotiations with their Chinese counterparts.

"For example, with [resuming] buying USA soybeans, it is because China has no choice but to buy".

It is unclear if Beijing will yield to key US demands over trade imbalances, market access, and more protection for intellectual property.

Meanwhile, the South China Morning Post reported that Chinese Vice Chairman Wang Qishan may meet with Trump at the sidelines of the upcoming World Economic Forum in Davos, Switzerland, citing an anonymous source.

These working-level discussions are not expected to yield a concrete deal, but are a substantial step for both sides to check the progress of offers and demands before their top negotiators - Chinese Vice-Premier Liu He and US Trade Representative Robert Lighthizer - can sit down to reach an agreement.

US and Chinese officials expressed optimism before the two day talks, but Beijing at the same time complained about the sighting of the U.S.S. McCampbell destroyer in what it said were Chinese waters near disputed islands in the South China Sea.

Last year, both countries imposed billions of dollars of tariffs on one another's goods.

Trade tensions have contributed to a steep decline in the stock market since September.

Chinese officials are unhappy with US curbs on exports of "dual use" technology with possible military applications. "But for China, its very serious", she said. The incident could have caused a collision, USA officials said at a time.

Despite the December truce, "most firms expect trade war to escalate", the report said.

The current round of negotiations is being held at the vice-ministerial level, with the US' team of negotiators led by Deputy Trade Representative Jeffrey Gerrish.

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