U.S., Chinese Trade Negotiators Call To Decide On Next Step In Talks

According to a report published by the Chinese state news Agency Xinhua News Agency, arrangements on the next stage of talks between China and the United States over a possible trade deal to end a seven month long trade war had been decided upon by China’s Vice Premier Liu He and his American counterparts participating the talks.

The report from Xinhua claimed citing sources and not providing much details, that specific talks over some of the critical issues about how the wording of an agreement would be done were discussed between Liu, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin in the phone call on Tuesday morning.

The two sides set the next steps in “working arrangements”, Xinhua added, without giving details.

In recent weeks the trade talks between the representatives of the two countries have been taking place in close contact. However what the global markets, investors, companies and even the global polity is looking out for is the confirmation of the date  of the direct face to face meeting between United States President Donald Trump and his Chinese counterpart Xi Jinping to finally officially sign a trade deal between the two countries. Trump has already commented that the meeting between him and Jinping was necessary to seal the deal and to end the negotiations in the form of a formal trade pact. However, White House spokeswoman Sarah Huckabee Sanders had said earlier that no date for such a meeting had been fixed as yet.

He “feels hopeful” about the prospects for the negotiations, said Chinese Vice Commerce Minister Wang Shouwen on Saturday, who is also a member of the Chinese trade delegation in the trade talks. He however also stressed that it was important that any trade deal between the countries should have an enforcement framework that would be “two way, fair and equal” and suitable and agreed upon by both the parties. Wang said talks have made substantial progress. He however refrained from answering media questions about whether he expects a trade deal between the two countries to be signed this month.

According to a comment by China’s central bank governor Yi Gang, who is also a member of the negotiating team of China, the two sides have reached consensus on many important issues of trade. He said on Sunday in Beijing that they have also had discussions on China’s currency.

(Adapted from Bloomberg.com & Xinhaunet.com)

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Categories: Economy & Finance, Geopolitics, Regulations & Legal, Strategy, Sustainability, Uncategorized

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