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US-China trade discussions set to resume early January - Bloomberg

As reported by Bloomberg, the US and China are set to resume tough trade talks in early January, after taking several months off as the two sides hurled tariffs and trade restrictions against each other for most of 2018.

Key quotes

A U.S. government delegation will travel to Beijing in the week of Jan. 7 to hold trade talks with Chinese officials, two people familiar with the matter said.

Next month’s meeting will be the first face-to-face discussion the two sides have held since President Donald Trump and China’s Xi Jinping agreed on a 90-day truce in Argentina this month. Treasury Secretary Steven Mnuchin said last week the U.S. team and its counterparts have held discussions over the phone.

The meeting adds to signs that the world’s two largest economies are making progress in cooling trade tensions. Beijing this week announced a third round of tariff cuts, lowering import taxes on more than 700 goods from Jan. 1 as part of its efforts to open up the economy and lower costs for domestic consumers.

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