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Tuesday 20th March 2018

Trump Says US and China Discussed Trade on Thursday


7Dnews London

Fri, 30 Aug 2019 15:42 GMT

Officials from the US and China entered trade talks on Thursday 29th August only days before new Washington tariffs are planned to take effect, AFP quoted President Trump.

"There's a talk scheduled for today at a different level," Trump told Fox News Radio, without elaborating. He said the US did negotiate trade with China over the phone last week. "Yes, they've been talking," he said.

AFP tried to get a comment from the US Trade Representative's office, the entity talking to China, but was unable to do so.

China's Ministry of Commerce gave some good news to stock markets on Thursday when it said it may not match the new US tariffs like for like. However, the Chinese side earlier this week seemed to deny that mutual trade discussions were being held.

Following a vicious Sino-American trade war that has been playing out for a year, the US is scheduled to activate the first of the new tariffs imposed on Chinese products on Sunday amid concerns over profits dipping and a potential recession from trade groups.

In August, Trump announced a 10% tariff on $300 billion worth of Chinese products to be effective from September 1st and December 15th. China responded by imposing tariffs on $75 billion worth of US goods and Trump increased the new tariffs to 15%. The 25% tariffs on $250 billion worth of Chinese products will jump to 30% on October 1st.

US & Canada