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Global Geopolitical Series: U.S. and China to retry talking out of trade war

Chinese trade delegations will visit Washington later this month to meet with the U.S. counterparts and try to resolve the current trade conflict through negotiations and to prevent the further escalation of tariffs on each other’s products.

China’s commerce ministry has confirmed that it has received an invitation from the United States and it would send a delegation led by Vice Minister Wang Shouwen to the US for trade talks. The Chinese team will negotiate with a US delegation led by David Malpass, undersecretary for international affairs at the US Treasury Department. Mr. Wang has been acting as the point person within the Chinese commerce ministry overseeing the trade war.

This is the first time the two sides would meet since the last talks failed to produce any tangible result and both moved ahead and imposed 25 percent tariffs on goods worth $50 billion from each other. President Trump has threatened 25 percent tariffs on $200 billion worth of goods as the next measure in the trade war. So, if the talks fail, the stakes are four times higher for China.

Chinese markets have suffered greatly since the last talks failed to resolve the dispute and both moved to a tariff war. Chinese benchmark stock index CSI300 is down 18 percent YTD, whereas the currency yuan is down 6 percent against the USD. 

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