CHINA-US: TRADE TALKS

Deputy U.S. Trade Representative Jeff Gerrish, who will be 50 years old this year, will next week lead a delegation that includes U.S. Treasury Undersecretary for International Affairs David Malpass and other officials to China for the first round of face-to-face talks since President Donald Trump and Chinese President Xi Jinping agreed on December 1, to a ceasefire in a trade war that has led to tariffs on hundreds of billions of dollars worth of U.S. and Chinese goods. It is also the first U.S.-China trade meeting since Trump announced that Lighthizer is in charge of the negotiations. A successful meeting could lead to higher-level talks between Lighthizer and Chinese Vice Premier Liu He in Washington the following week. 

(Comment: (i) The two sides are pushing for an agreement by March 1. If no deal is reached, Trump intends to raise tariffs on $200 billion worth of Chinese goods to 25 percent, from 10 percent currently. That would match the 25 percent duty he has already imposed on another $50 billion worth of Chinese goods. China has imposed retaliatory duties on around $110 billion of U.S. exports.
(ii) Chinese Vice President Wang Qishan is expected to lead a delegation to the World Economic Forum in Davos, Switzerland in late January, when Trump, Lighthizer and other top U.S. officials are scheduled to be there.)






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