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Statement From US Administration
Hopes for an end to the US/China trade war have increased in recent days.
Over the weekend, US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer released a statement highlighting plans to hold semi-annual talks with China. The talks aim to deliver economic reform as well as resolve disputes.
The effort will be led in China by Vice Premier Liu He. It will also be formally announced as part of the phase one trade deal.
The deal is due for signature in Washington on January 15th.
Phase One Trade Deal Agreed Upon
The phase one trade deal includes commitments by China to increase purchases of a range of US goods. It also includes some economic reforms in exchange for the US reducing some tariffs and removing others altogether.
As part of the deal, the two sides have agreed to dispute-resolution consultations. These will aim to help deal with any conflicts which might occur as trade negotiations continue.
The statement released o...
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