U.S., China to hold trade talks in Beijing in early January

A USA trade delegation will go to China the week of January 7, Bloomberg reported Wednesday, citing two people familiar with the matter.

The deputy US Trade Representative Jeffrey Gerrish will lead a delegation to Beijing in early January for the first face-to-face talks after a truce in tariff war between two countries, Bloomberg News reports.

Feng further said: "In January, in addition to maintaining intensive telephone consultations, the two sides have made specific arrangements for face-to-face consultations".

Word of the meeting follows small signs of progress -- and the absence of new threats from Trump -- while the two sides work to ease trade tensions by March 1.

Earlier this month, China's major state-owned grain stockpiler said it had resumed buying U.S. soybeans, and Beijing announced it would suspend extra tariffs added to US-made cars and auto parts starting January 1.

For months, the US and China have engaged in tit-for-tat increases in tariffs on hundreds of billions of dollars' worth of exports flowing between the two countries.

Presidents Trump and Xi Jinping agreed December 1 to postpone more tariff increases for 90 days while their governments negotiate over US complaints Beijing steals or pressures foreign companies to hand over technology. China wants the U.S.to remove the punitive tariffs that have been imposed and not add new ones, but suspects the USA will ask for more before it agrees to do that, the people said.

More news: Pakistan says US troop withdrawal 'step forward' in Afghan peace effort - International

The U.S. also delayed a planned January 1 tariff increase until March 2.

After returning from his Buenos Aires meeting with Xi, Trump said U.S. Trade Representative Robert Lighthizer would be in charge of the China negotiations.

China enters trade talks said to begin early next month in Beijing having made concerted efforts to end the standoff with the USA, and also unsure it's done enough.

While next month's meeting is a positive development, the two sides are not on track to make the kind of large-scale breakthrough that the Trump administration is seeking, according to Derek Scissors, a China expert at the American Enterprise Institute. He said that March 1 was a "hard deadline" that was endorsed by Trump, Bloomberg reported.

In response, China has resumed purchases of USA soyabeans for the first time in six months, even though hefty tariffs on United States cargoes remain in place.

Trump said his agreement with Xi would go down "as one of the largest deals ever made".

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Patrick Frazee, fiancé of missing Colorado mother Kelsey Berreth, arrested for murder
Berreth has not been seen since Thanksgiving when she was seen at a Woodland Park Safeway store with her daughter. Family and friends started a Facebook page to spread and gather further information on her whereabouts.

Get your Tobey Maguire on in Spider-Man with the 2002 suit
The web-swinging mobile game launched a comic-con trailer back in 2014 and it later launched for free for iOS and Android devices. Of course, Spider-Man will try and stop her from actually killing the mob boss but that only puts him in Sable's crosshairs.

Jaap Stam backs Tottenham boss Mauricio Pochettino for Manchester United
The ex-Argentina global also expressed his sympathy for Mourinho , sending his best wish to his "very good friend". When that time comes, Spurs may well have a fight on their hands to keep Pochettino .

Saudi king orders major government reshuffle
Al-Jubeir's post was taken by Ibrahim al-Assaf, a long-time finance minister of the Kingdom. Musaed al-Aiban was appointed national security adviser.

Queen Elizabeth's Christmas Address Talks About Meghan Markle, Importance Of Family
The former " Suits " star could be seen placing a protective hand on Kate's back as the pair made their way inside the gates. According to reports, unease between Meghan and Kate is the reason why the royal duo will move to Windsor early next year.

Congress, White House talking, but no quick end to shutdown
Mulvaney withheld specifics but placed the offer at between Trump's $5.7 billion request and $1.3 billion Democrats are offering. The October 2013 shutdown , which lasted 16 days, happened after the House and Senate deadlocked over the Affordable Care Act.

Why the abrupt U.S. pullout from Syria is cause for concern
Trump's shock move put allies on the backfoot, with French President Emmanuel Macron on Sunday saying "an ally must be reliable". Ankara regards the YPG as terrorists and has been infuriated by United States support for the group in the fight against IS.

Here Are Three Crazy Market Statistics on a Wild Day of Trading
All three major US indices jumped sharply on Wednesday, the first trading day after the worst Christmas Eve session on record. Gains in banks, retailers and health care companies are outweighing losses in energy stocks and elsewhere in the market.

'Don't be fooled by his young face' - former team-mates back Solskjaer
Alexis Sanchez has dismissed reports that he sent a celebratory text to Marcos Rojo after Manchester United sacked Jose Mourinho . I want the players to be the kids that love to play football and go out in front of the best fans in the world." .

Mount Etna: 4.8-magnitude natural disaster jolts Sicily
Debris of a partially collapsed house sits on the street in Fleri, Sicily, after an quake triggered by Italy's Mount Etna volcano. Mount Etna has been particularly active since July, with experts in Italy saying the volcano has been growing faster recently.

Canada says third citizen detained in China amid diplomatic row
The case of the third Canadian detained in China is different than the first two, says Prime Minister Justin Trudeau. Consular officials are providing assistance to the detainee's family, Global Affairs Canada said.

8-year-old Guatemalan migrant dies in U.S. custody on Christmas Day
CBP announced last week that it would begin informing Congress and the media within 24 hours after someone dies in its custody. The father and son were not identified, and the agency said it would release more details "as available and appropriate".

Manchester United sack coach Jose Mourihno
Andy Mitten, editor of fanzine United We Stand, told BBC Radio that neither the players nor the fans would miss Mourinho. United plan to hire a caretaker manager until the end of the season, before appointing a permanent successor.

EPL scores, results | Manchester City beaten by Crystal Palace
David Brooks continued his fine run of form with a superb brace to earn Bournemouth a 2-0 home win over 10-man Brighton and Hove Albion .

Latest Colorado Weather Forecast: Turning Colder With Snow Tomorrow
It also could get several inches of snow Wednesday night, as well as up to 7 inches on Thursday, the weather service said. An additional 1 to 3 inches of snow may fall from Thursday night to Friday, which is enough to make roads slippery again.


More News

News
More News