China, U.S. Resumes Talk To End Trade War
China and the United States will resume their high-level trade talks next week as they move closer to close a deal. The White House's statement released on Tuesday said that Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will visit China to continue the negotiations starting April 30.
China's delegation headed by Chinese President Xi Jinping's top economic adviser, Liu He, will then go to Washington for further negotiations starting on May 8. The White House said that the scheduled talks next week will discuss trade issues that include intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases, and enforcement. There was no confirmation from China whether the latest round of negotiations will continue.
The latest developments of the trade talks between China and the United States suggested that they are close to an agreement that could end the trade war that has placed both economies in the struggle for more than a year. The trade friction between the two nations hurt global economic growth. Earlier this month, United States President Donald Trump said that any trade deal would be "the granddaddy of them" all and "very monumental".
China is also optimistic that the talks will end in an agreement that will end the trade conflict soon. Xinhua, China's state news agency, reported earlier in April that the United States and China had reached a new consensus on important issues that might guarantee a trade agreement.
Investors are hopeful that the two sides soon ends the trade conflict through an agreement that could lift the imposed billions of dollars' worth of tariffs on Chinese goods. The United States seeks the power to take unilateral action to penalize China if it fails to fails to stick to the deal in exchange for lifting the ban on Chinese goods.
Recently, Mr. Trump and his top officials announced that they are planning to keep tariffs on $250 billion of Chinese goods a little longer. He claims that they have to make sure that if we do the deal with China that China lives by the deal.
China and the United States continued to disagree on some important political and economic issues. One of the most critical topic negotiated is technology. The administration of President Trump has been placing pressure on other nations globally to ban the use of Huawei equipment in building their next-generation 5G networks. They claim that the products produced by the Chinese company present high-security risk.