Economy

U.S. and China agree to October trade talks in Washington

U.S. and China agree to October trade talks in Washington

The agreement on a date came in a phone call conducted by the chief Chinese envoy, Vice Premier Liu He, with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, the Chinese Commerce Ministry said in a statement.

As the trade war between the USA and China continues, delegations from both countries are scheduled to meet for negotiations next month, according to a statement from China's Ministry of Commerce. China's central bank governor Yi Gang was also on the call.

Officials will "conduct conscientious consultations" in mid-September to prepare, the ministry said. Both sides agreed to take actions to create favourable conditions, it said.

President Donald Trump told reporters Wednesday that money the USA receives from tariffs on China will help farmers recover from Hurricane Dorian.

US and Chinese envoys will meet in early October for more talks aimed at ending a tariff war that threatens global economic growth.

More news: Ryan Kent completes Rangers transfer

Both countries said they will continue talking ahead of that in-person meeting.

The last round of talks in July in Shanghai ended with no indication of progress.

The United States plans to increase the tariff rate to 30% from the 25% duty already in place on $250 billion worth of Chinese imports from Oct 1. Trump says China has paid for most of the tariffs, adding, "We have a lot of money to help our farmers".

Some within the Trump administration are skeptical that China is willing to make the sort of broad commitment to reforms sought by the USA that caused a breakdown in talks in May, according to people familiar with the officials' thinking.


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