Published: Mon, January 07, 2019
Worldwide | By Angelina Lucas

China trade delegation to meet Monday, Tuesday

China trade delegation to meet Monday, Tuesday

Deputy U.S. Trade Representative Jeffrey Gerrish will lead the U.S. delegation for the talks, the Commerce Ministry said in a statement.

The Trump administration and China are facing growing pressure to blink in their six-month stare-down over trade because of jittery markets and portents of economic weakness.

In a separate statement on Friday, USTR said the delegation will also include Under Secretaries from the US Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the White House.

The president downplayed the effects of the economic woes on US technology giant Apple Inc, which this week blamed slowing iPhone sales in China for a rare reduction in its quarterly sales forecast. That news that helped boost global markets.

China's economy has been decelerating since the government pulled back on bank lending a year ago to try to curb a run-up in debt.

Other drivers of USA growth, including government and business spending and net exports, are all sagging or expected to do so in coming months.

US manufacturers say Trump tariffs will bring higher prices, not more jobs

Word of the meeting next Monday and Tuesday follows small signs of progress - and the absence of new threats from Trump - while the two sides work to ease trade tensions by March 1.

Before the meeting with China in Argentina, USA was threatening to impose another round of trade tariffs of 25 percent instead of earlier 10 percent on Chinese goods that would cost additional $200 billion.

On top of concerns about collateral damage from the U.S. But heavy government spending masked weakness in private-sector activity.

China's own stock market has fallen by about 25% in the previous year as investor concerns grew about the impact of the trade war on China's economy.

United States factory activity slowed more than expected in December, according to the Institute for Supply Management (ISM), while Chinese data on Monday showed its manufacturing activity contracted for the first time in more than two years. It was the fourth month of contraction, and it put annual sales in the world's biggest auto market on track to contract for the first time in three decades. Those ambitions cut to the heart to China's drive to become the world's 21st century economic superpower. Both countries made a decision to suspend imposition of new tariffs on each other for the next 90 days and implement consensus that were reached between both presidents during the G20 meeting earlier this month. They criticize his tactics but echo US complaints about Chinese industrial policy and market barriers. Kevin Hassett, the White House economic adviser, said on Thursday the sharp drop in Chinese economic growth will hit US profits but sales for Apple and other firms should rebound once a trade deal is struck.

Trump Mocks Warren Again Over Her Claims of Native American Ancestry
Hillary Clinton in 2016 launched a similar "listening tour" that took her to early states. The Michelob Ultra Web site describes the beer as "The Light Beer to be Excited About".

Like this: