Jul 10, 2019 (China Knowledge) - The U.S. trade officials spoke with their Chinese counterparts by phone on Tuesday, continuing discussions to end a trade war between the two countries. The U.S.-China trade tensions has seen a series of escalations that has greatly impacted global supply chains and financial markets.
According to a U.S. official, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke with Chinese Vice Premier Liu He and Commerce Minister Zhong Shan on Tuesday to continue negotiations to resolve outstanding trade disputes between the countries.
The talks begin a new round of engagement between the U.S. and China as they try to ease fears of trade war escalation. Late last month, President Donald Trump and Chinese President Xi Jinping met at the G20 summit in Japan where President Donald Trump agreed not to levy a new round of tariffs on USD 300 bln worth of imported Chinese consumer goods.
Trump has pushed for Beijing to buy more American goods and restart large purchases of U.S. agricultural commodities. In return, the United States would ease some export restrictions on Chinese telecom equipment giant Huawei Technologies for a limited time.
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