China-US Trade Talks Are Already On

Trump China wants to make a deal

Larry Kudlow Rips Colleague Peter Navarro For ‘Freelancing’: He’s ‘Not Representing the President’

The U.S. posted a $376 billion deficit in goods with China past year, which is more that 66 percent of its total deficit of $566 billion.

White House Economic Council Director Larry Kudlow slammed Peter Navarro on Tuesday after President Trump's trade advisor criticized Wall Street in a keynote address last week. "We put tariffs on $250 bln in Chinese goods, and we could more than double that number", Pence said.

China agreed to buy more American energy and agricultural goods to narrow the trade deficit in May, but the deal was blocked by Trump, leading to the escalation of the trade war.

Given that this is an unprecedented event of the face-to-face meeting between the two Presidents in the midst of the series of tariffs exchanges, the outcome could be anybody's guess.

China's Commerce Ministry says high-level trade talks between Beijing and Washington have resumed.

Trump's comments came as Washington and Beijing have been engaging in an escalating trade war from the past few months, with both nations slapping high tariffs on each other's goods and imports.

For his part, Vice President Mike Pence said the U.S. will continue its policy of restrictions of the China trade until Beijing changes its behaviour.

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"Until I see Lighthizer ordered into the fray I don't think there will be a trade deal", Scissors said.

USA officials are said to be still studying the list, which was received on Monday night.

President Donald Trump said he is optimistic about resolving the USA trade dispute with China after receiving a response from Beijing to his demands, ahead of a widely anticipated meeting with Chinese President Xi Jinping in Argentina later this month.

Coming amid a downturn in U.S. stocks that has almost erased gains for the year, Trump's comments have led some to speculate that he is trying to influence market sentiment with the positive trade headlines.

Trump is due to meet with China's President Xi Jinping late this month in Buenos Aires on the sidelines of the Group of 20 leaders' summit.

The Trump administration tightened scrutiny of Chinese investments, especially in technology sectors, through the Committee on Foreign Investment in the United States, a multi-agency government panel.

"We're having communications at all levels of the United States and Chinese government", Kudlow said. That would then be followed by months of talks, Ross said. Current Chinese President Xi Jinping has set out to enforce his own take on socialism with Chinese characteristics, an ideology embraced by successive US administrations despite political differences.

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