U.S. President Donald Trump is meeting with Chinese Vice-Premier Liu He on Friday, 11 October as the two seek an agreement that would stave off the imposition of tariffs set to go into effect on Tuesday, 15 October.
Liu traveled to Washington D.C. to meet with Trump, and was also scheduled to meet with U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer, according to the South China Morning Post.
On Twitter, Trump addressed the possibility of a deal coming out of the meeting.
“Big day of negotiations with China. They want to make a deal, but do I?” he wrote.
Trump ramped up the ongoing trade war with China in August, when he announced he would move tariffs currently in place on USD 250 billion (EUR 224.9 billion) worth of Chinese goods up to 30 percent. That move came in response to China’s 23 August announcement that would raise tariffs on USD 75 billion (EUR 67.4 billion) of U.S. goods.
Liu told Chinese news service Xinhua on Thursday, 10 October, he was traveling to the United States to seek de-escalation of the confrontation.
“On the basis of equality and mutual respect, China is willing to reach consensus with the US through this round of consultations on issues of mutual concern to prevent further escalation and spread of friction,” he said.
On 9 October, Bloomberg reported China and the U.S. were negotiating a mini trade-deal that would address some of the main sticking points that have led to flaring tensions between the two countries. The deal would include “large purchases of American commodities … contingent on President Donald Trump halting further tariffs,” according to the news agency.
However, The New York Times reported U.S. officials are also considering the implementation of additional punitive measures against China, including limiting China’s access to U.S. capital markets and imposing restrictions on its companies operating in the United States.
Liu and the Chinese negotiating team is scheduled to leave Washington Friday evening, so a deal – if it happens – is likely to be announced on Friday, the South China Morning Post reported.
Photo courtesy of Shutterstock
