China and the United States agreed to hold high-level trade talks in early Octob...
BEIJING - China and the United States agreed to hold high-level trade talks in early October in Washington, China’s commerce ministry said on Thursday, amid fears that an escalating trade war could trigger a global economic recession.
The announcement followed a call earlier in the day between China’s Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, the Ministry of Commerce said in a statement on its website. China’s central bank governor Yi Gang was also on the call. Trade teams from the two countries will hold talks in mid-September before the high-level talks next month, the ministry said. Both sides agreed to take actions to create favorable conditions, it said.
Washington began imposing 15% tariffs on an array of Chinese imports on Sunday, while China began placing new duties on U.S. crude oil. That prompted China to lodge a complaint against the United States at the World Trade Organization.
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