China Promotes Plans for January Meeting with U.S.

US trade delegation to travel to China next month: Report

Report: US Trade Team to Travel to China for Talks  

Two people familiar with the matter tell Bloomberg that US officials will travel to Beijing on January seventh to talk trade with Chinese officials. The team will be led by Deputy US Trade Representative Jeffrey Gerrish and include David Malpass, the Treasury undersecretary for worldwide affairs, according to the report.

US and Chinese officials have spoken by phone in recent weeks, but a meeting next month would be the first in-person talks since US President Donald Trump met his Chinese counterpart Xi Jinping in Buenos Aires on Dec 1. Beijing this week announced a third round of tariff cuts, lowering import taxes on more than 700 goods beginning January 1, 2019, as part of its efforts to open up the economy and lower costs for domestic consumers.

A USA government delegation will travel to Beijing in early January for the first face-to-face talks since President Donald Trump and his Chinese counterpart agreed to a truce in their tariff war, Bloomberg News reported on Wednesday. Following the meeting in Buenos Aires, Trump and Xi agreed to stop escalating tariffs and to launch new talks aimed at resolving the dispute and the USA delayed a tariff increase planned for January 1 until March. The nation also agreed to begin purchasing USA soybeans and temporarily relent on certain tariffs on US automobiles and parts.

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As of December 27, imports of brown rice, polished rice and crushed rice from the United States are now permitted, as long as cargoes meet China's inspection standards and are registered with the U.S. Department of Agriculture.

Gao Feng, spokesperson at the commerce ministry told reporters that they will continue consultations through intensive telephone calls at the moment and he also said that the negotiations have been the Christmas break in the United States.

China, meanwhile, wants the remove the punitive tariffs that have been imposed and not add new ones, but suspects the USA will ask for more before it agrees to do that, the people said.

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"The failure of cabinet-level officials to even meet in the first half of the 90-day period makes it impossible to anticipate fundamental change on the Chinese side", he said.

On Sunday, a meeting of the Standing Committee of the National People's Congress (NPC, China's legislature) saw a draft law that would allow IP theft victims to claim "punitive damages".

In response to the United States effort, China started importing USA soybeans for the first time in six months. He said that March 1 was a "hard deadline" that was endorsed by Trump, Bloomberg reported.

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Trump said his agreement with Xi would go down "as one of the largest deals ever made".

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