China and U.S. to hold trade talks in Beijing

China and U.S. to hold trade talks in Beijing

USA and China agree to hold first substantive trade talks since truce was struck at November's G20 summit in Argentina. "China wants the trade war to end, and they are offering signs of that", said a U.S. source familiar with the discussions.

Trump and Xi agreed to postpone additional tariff hikes for 90 days, but economists say that is too little time to resolve their sprawling dispute.

Gerrish is close to Robert Lighthizer, the USA trade representative, and the official most in favour of using the trade war to punish China. And it puts us in a very strong position.

Despite its softening economy, China will likely find it hard to comply with USA demands to slow its economic ambitions.

USA factory activity slowed more than expected in December, according to the Institute for Supply Management (ISM).

The ministry said in a statement that vice minister-level officials from the two countries spoke on the phone and decided on the trip that aims to pick up on the consensus reached by the leaders in Argentina last month. Trump had been set to raise the tariffs on most of the Chinese goods on January 1. As of July, the USA was running a $222.6 billion trade deficit with China. It has also helped spark severe volatility in the US stock market and a months-long selloff that analysts said signaled worries over a pending recession. "Another is that, according to USA customs data, it is not just the United States products that China imposed its retaliatory tariffs on that have seen weakening export growth to China, but U.S. exports to China have seen some softening across the board".

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Trump initiated the trade war because of complaints over unfair Chinese trade practices - concerns shared by the, Japan and others. Apple plunged the most since 2013 in part due to slowing iPhone sales in China, where the economy has slowed.

Trump said he has urged Apple chief Tim Cook to "make your product in the United States" rather than China.

"While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China", he said in the letter lowering Apple's revenue forecast. That makes their dispute "a matter not only for the two countries but for the world", he added. Stock markets around the world have shuddered in wake of the trade war, recording their some of the largest annual drops in years at the end of 2018.

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