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US-China trade talks in the works

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US-China trade talks in the works

The United States and China met yesterday for the first time since July to try to iron things out in the ongoing trade tension.

Chinese Vice Premier Liu He was greeted by US Treasury Secretary Steven Mnuchun and Trade rRepresentative Robert Lighthizer as he arrived for a meeting that’ll somehow resolve their differences in avoidance to the already scheduled tariff rate increase on almost US$250 worh of Chinese products.

In a tweet, Donald Trump was seen saying, “Big day of negotiations with China. They want to make a deal but do I? “I meet with the vice premier tomorrow at the White House.”

On the contrary, US President Donald Trump told reporters after the talks concluded that they had a very, very good negotiation with China. Moreover, A White House official said talks had gone very well, probably better than expected.

The Chinese Vice Premier has expressed concern over the ongoing trade tension and the tremendous effects it has already caused globally. He has emphasized the importance of the China-US economic and trade relationship in a meeting with president of United States-China Business Council Craig Allen and executive vice president and head of international affairs at the US Chamber of Commerce Myron Allen.

He has fervently said how trade wars are not good for China, nor for the United States, and the whole world in general making the companies and consumers suffer material losses.

Liu explained how willing the Chinese delegation is to come to an agreement with the United States regarding but not limited to trade balance, market access and investor protection. He further said that the group came with all sincerity to achieve positive progress through this negotiation.

Both Allen and Brilliant agreed how there are no winners in the scenario of trade wars. Also, they further expressed how the United States is against the imposition of additional tariffs.

Despite differences, they further expressed their desire for the two countries to try and deepen mutual trust and eventually find a common ground to agree on things. Furthermore, the US business community, they added, is willing to play a positive role in this process.

Liu said that the upcoming talks has drawn high attention from the world at a meeting with Kristalina Georgieva, IMF managing director. He expresses how willing they are in finding a middle ground on the basis of equality and mutual respect.

He is also hopeful that the international community could make concerted efforts to safeguard world stability in order to prevent disputes from further escalating and spreading.

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