China, US to have trade dialogues in October

China and the US will meet and hold high – level trade dialogues in October in Washington as the Chinese commerce ministry’s announcement on Thursday.

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The Chinese Ministry of Commerce has said the China and the US would hold the high – level trade talks in October after the call of China’s Vice Premier Liu He, the US Trade Representative Robert Lighthizer and the US Treasury Secretary Steven Mnuchin on earlier Thursday.

The China’s commerce ministry stated on its website “Both sides agreed that they should work together and take practical actions to create good conditions for consultations”.

The US Trade Representative office’s spokesman said the US and China “agreed to hold meetings at the ministerial level in Washington in the coming weeks” that the high – level trade talks of the two countries will be held after having talks in mid – September “to lay the ground work for meaningful progress.”

The US and China had even planned to hold high – level trade talks in September. Nevertheless the row between two countries increased when the US start imposing 15% tariff of Chinese imports on Sunday (September 1) and China ordered duties on the US’s crude oil.

Moreover, China also brought its complaint against the US’s tariff on Chinese goods to the World Trade Organization (WTO) on Monday (September 2).

The US President Donald Trump had said the US would increase tariff from 25% to 30 % on Chinese goods to respond to the Chinese’s tariff on $75 billion of the US goods.

Trump also had warned to use International Emergency Economic Powers Act (IEEPA) to force the US’s giant companies get out of China and come back to the US.

Reuters, CNBC ( Van Nguyen )