China trade talks set to resume over the phone

Saul Bowman
July 7, 2019

But for any deal to be reached, the remaining tariffs must be removed, according to Chinese Ministry of Commerce spokesman Gao Feng.

'I don't know if that's this coming week.

The call would mark the resumption of trade negotiations between US and Chinese ministerial-level officials for the first time since early May. "The face-to-face may not be for another week, but I don't want to get ahead of that curve", he said.

Meanwhile, The South China Morning Post also reported Friday that talks were due to resume in Beijing next week.

U.S. stocks appeared to react positively to word that the trade talks will resume, erasing some of the losses from Friday when a strong job report called into doubt a hoped-for cut in interest rates by the Federal Reserve.

The company has been a component of the ongoing trade war between the US and China that has hung over financial markets, with President Donald Trump recently agreeing to loosen restrictions on Huawei after meeting with Chinese President Xi Jinping at the Group of 20 summit. "China's attitude on that is clear and consistent".

Huawei has said it may lose about Dollars 30 billion revenue in the next two years as a result of United States ban and Washington's campaign among allied and friendly countries on a ban on use of the products of the Chinese telecpm giant on security grounds. While Trump said he would hold off imposing additional tariffs on $300 billion of Chinese goods as part of the truce, his top trade negotiators have insisted that some duties will stay in place even after a deal as a way to enforce it.

Huawei is challenging in federal court here the government's ban of the firm, which Huawei says was groundless and that the USA has no proof to support its national security concerns.

Robert Strayer, the deputy assistant secretary for cyber at the US State Department, said the UK's decision represented an "unacceptable risk" to security because of its links to an "authoritarian government".

The leaders of the world's two largest economies also said they will resume trade negotiations.

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