US, China holding lower level trade talks later this month

A Chinese delegation led by Vice Commerce Minister Wang Shouwen will meet with an American group led by David Malpass later this month

A Chinese delegation led by Vice Commerce Minister Wang Shouwen will meet with an American group led by David Malpass later this month

"The Chinese side reiterates that it opposes unilateralism and trade protectionism practices and does not accept any unilateral trade restriction measures", the ministry said.

The latest headlines crossing the wires concerning China-US trade spat, cites that China's Vice Commerce Minister is said to visit the US for trade talks.

The last official round of talks was in early June when the USA commerce secretary, Wilbur Ross, met Liu He in Beijing.

Reuters reported Thursday that representatives from the Treasury Department will meet with China's Vice Minister of Commerce Wang Shouwen and other officials in Washington, D.C.

Sentiment in oil markets was also cautious due to the rise in US crude production and storage levels, as well as weakness in emerging market economies, particularly in Asia, that could limit demand growth.

"This will be 'talks about trade talks, '" said Gai Xinzhe, an analyst at the Bank of China's Institute of International Finance in Beijing.

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But the discussions failed to reduce tensions as the United States slapped tariffs on $34 billion worth of Chinese goods in early July, triggering an immediate dollar-for-dollar retaliation from Beijing.

News of the upcoming talks helped Chinese stocks stem losses.

Trump has insisted on imposing tariffs on China and some US allies for national security reasons, even as Republicans and Democrats alike have warned that the policy will ultimately hurt American workers.

Washington is due to activate additional tariffs on $16 billion of Chinese goods on August 23, and Beijing has said it will respond in kind.

President Trump has declared that a trade war with Beijing would be "easy to win" and that he was willing to impose tariffs on up to $500 billion of Chinese products after declaring that a trade war with Beijing... But Trump backed away from the agreement and the two nations have been locked in a tit-for-tat trade war ever since.

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