US and China to begin trade talks Thursday
Deputy-level discussions will begin this week between the U.S. and China, as representatives from both countries prepare for the next round of high-level talks scheduled for October.
Discussions will begin on Thursday, U.S. Trade Representative Robert Lighthizer’s Office confirmed to Fox News on Monday.
The pair of countries were expected to hold consultations in mid-September to prepare for the thirteenth round of trade talks in D.C. next month.
As the trade war drags on, President Trump said last week a deal would not happen unless it was a good and fair agreement for the U.S.
“We cannot go back to a situation where [the U.S.] giving hundreds of billions of dollars to China becomes standard fare. Not going to happen,” he said before a crowd during a rally in North Carolina.
In a gesture of goodwill, Trump recently made the decision to delay a new round of tariff increases on $250 billion worth of goods from China, which were scheduled to take effect on Oct. 1. The two-week postponement was made to accommodate the celebration of the 70th anniversary of the People’s Republic of China. The increases will take effect on Oct. 15, instead.
These increases will follow the new round of tariffs that went into effect on goods from both countries at the outset of September. The U.S. implemented tariffs worth 15 percent on a host of goods from China, a decision that was met with countermeasures.
China subsequently filed a complaint with the World Trade Organization (WTO), asking it to facilitate “consultations” with the U.S. to reduce or end tariffs.
The countries were close to striking a trade deal in the spring, but the Chinese ultimately decided not to move forward because of some of the demands the U.S. was making. Since then there has been little progress toward reaching a comprehensive agreement.
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