US, China to resume trade talks in Washington amid low expectations

Business
By encl_admin
FILE PHOTO: The United States flag flies atop the U.S. Treasury Department in Washington November 18, 2008. REUTERS/Jim Bourg/File Photo
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WASHINGTON – US and Chinese officials were set to resume contentious trade talks yesterday (22) under the cloud of a prediction by US President Donald Trump that there would be no real progress.
The discussions among mid-level officials it was hoped would set a framework for further negotiations as each country prepares to hit the other with new tariffs today (23) in a deepening dispute over China’s economic policies.
Trump has threatened to impose duties on virtually all of the more than $500 billion (392.06 billion pounds) of Chinese goods exported to the United States unless it meets his demands.
The two days of meetings are the first formal US-China trade talks since US Commerce Secretary Wilbur Ross met Chinese economic adviser Liu He in Beijing in June.
After negotiations in May, Beijing believed it had assurances from the US that tariffs were off the table. But less than 10 days later, the White House said it would push forward on punitive measures.
China has said it hopes for quiet, steady talks to get “a good result on the basis of equality, parity and trust.”
Speaking in Beijing yesterday, Chinese Foreign Ministry spokesman Lu Kang said that now China and the United States have already started consultations they of course still hope for a “good outcome”.
Lu added that he didn’t want to make any statements or release any details while talks were ongoing.
“We hope that everyone can calmly sit down together and have earnest discussions towards an outcome that is in beneficial to both sides.”
But Trump told Reuters on Monday (20) that he did not “anticipate much”. In an interview, he said resolving the trade dispute will “take time because China’s done too well for too long, and they’ve become spoiled.”
Trump also accused China of manipulating its yuan currency to make up for the effect of tariffs, while arguing the US central bank should be more accommodating.

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