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Another Round Of China And US Bilateral Trade Negotiations In Early October

Amidst the ongoing trade war between the US and China, the cross-strait relations are at the worst, but a new ray of hope has emerged after the news about upcoming talks between the US, and China has been confirmed.

The US and China officials have confirmed that they had held a telephonic round of communication on September 4, 2019. The news confirmed that another face to face round of negotiations would be held in early October. But the date of the meeting has not been confirmed yet.

The telephonic conversation was represented by Liu He, Chief trade negotiator from China, US Trade Representative, Robert Lighthizer, and Treasury Secretary Steven Mnuchin.

US Trade Representative Spokesperson confirmed the telephonic conversation but, didn’t disclose about the October meeting.

Whereas, the Ministry of Commerce China has released a statement about the upcoming bilateral trade negotiations in October. The release discloses that the leaders from both the nations will resume another round of trade discussions in early October at Washington DC.

The Outcome of the Previous face to face Discussions

After the bilateral talks in July, the trade relations between the two nations were strained. After the discussions, the US President Donald Trump imposed 10% tariff on $300 billion worth of Chinese imported goods, which was further raised to 15%.

China counter-attacked US by enforcing 10% and 5% tariffs on $ 75 billion worth of US goods.

Trump further did two more tariff hikes in early August.

The war has been played on technology, finance, and currency fronts. The deteriorating relationship between the two nations have affected stock markets across the globe and has affected many major economies depended on these nations.

Owing to the next year’s Presidential Elections in the US, Trump is exhibiting more aggressiveness towards China so the ambiguity will likely to prevail over the relations, but for now, the stock markets have seen a sudden upsurge because of this news.

The telephonic talks are observed as a positive step towards boosting two-way relations. As both, the sides have agreed upon taking practical actions to yield positive output.

Zhong Shan, Chinese Commerce Minister, Governor Yi Gang from People’s Bank of China, And Ning Jizhe, Vice Chairman China Economic body, also participated in the telephonic discussion as per the release.

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Kelly Finley
Kelly Finley is a finance graduate and financial professional. She is also a freelance content writer and writes on topics like finance, cryptocurrencies and stock market. She is also passionate about learning new languages and exploring new things.

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