China to send negotiator to USA for trade talks this month


China and the United States have implemented several rounds of tit-for-tat tariffs on each other's goods

There also remains a wide gap between the two sides over Washington's demands that Beijing improve market access and intellectual property protections for US companies, and slash a $375 billion trade deficit with China.

China's Commerce Ministry said Thursday that a vice minister will travel to the an unspecified date, at the invitation of the Treasury Department, to discuss trade issues.

News of the meeting gave a lift to the yuan and helped cap losses in China's stock markets.

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This month's meeting would be the first between senior US and Chinese officials since June 3 talks in Beijing between Commerce Secretary Wilbur Ross and Vice Premier Liu He ended with no settlement. China has issued retaliatory tariffs on USA exports that have appeared to be aimed at US industries that could have a political effect on the US president. "Their economy looks bad", he said. The countries imposed steep tariffs on billions of dollars of each other's exports this summer and have threatened more.

"There may be some manipulation but mostly I think investors are moving out of China because they don't like the economy, and they are coming to the US because they like our economy".

The talks, which will take place at a lower level than previously, are the first official attempt by the world's two largest economies to alleviate trade tensions that have been simmering since June.

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"All my friends who worked in the Obama administration, and I have a bunch of them, told us repeatedly we could never grow faster than 2 percent", said Kudlow. Wang is also the deputy China worldwide trade representative.

White House economic adviser Larry Kudlow said the "single biggest event" of 2018 is "an economic boom that most people thought would be impossible".

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