China-US confirm talks
04/01/2019
The presidents of China and the US met at the G20 Summit in Buenos Aires in December and agreed not to impose new tariffs on traded goods and agreed to instruct their economic teams to step up negotiations toward the removal of all additional tariffs. Tariffs on imports into the US from China were to increase from 10% to 25% on January 1, 2019 but the increase was put on hold for 90 days.
China’s ministry of commerce has confirmed regular telephone contact with trade officials in the US and said at the end of 2018 that further talks and “an interchange of visits” were in the pipeline for early in the new year.
On January 4, Reuters quoted the ministry as saying the first of these visits will take place in China on January 7 and 8, with deputy trade representative, Jeffrey Gerrish, leading the US delegation. It said new data showed “a marked loss of momentum in the world’s two largest economies at the end of last year”, with the trade dispute one of the main reasons.
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