‘US, China negotiators hold constructive call on trade deal’

‘US, China negotiators hold constructive call on trade deal’

The long-running trade war between Washington and Beijing has weighed on the global economy and spooked markets

AgenciesUpdated: Monday, November 18, 2019, 09:02 AM IST
article-image

Beijing: Top Chinese and US trade negotiators held "constructive" discussions over the phone on a preliminary trade deal between the two countries, China's commerce ministry announced in a statement on Sunday.

The long-running trade war between Washington and Beijing has weighed on the global economy and spooked markets, with the two sides imposing punitive tariffs on hundreds of billions of dollars in two-way trade.

US President Trump announced a "phase one" trade deal last month which has yet to be signed.

Vice Premier Liu He spoke with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Saturday, and had"constructive discussion on each side's core concerns regarding the phase-one agreement", the Chinese commerce ministry said.

The two sides will "continue to maintain close communication", it added, without providing further details.

Since October, differences between Washington and Beijing over whether, when and by how much to reduce tariffs on each other's goods have spilled out into the open.

Trump this month denied the Chinese commerce ministry's claim that the two sides had agreed to roll back existing tariffs as part of the deal, details of which have not been released.

RECENT STORIES

Nvidia Becomes World's Most Valuable Company, Crosses $4 Trillion Market Value

Nvidia Becomes World's Most Valuable Company, Crosses $4 Trillion Market Value

Asian Paints Sells Entire 4.42% Stake For ₹734 Crore In Akzo Nobel India

Asian Paints Sells Entire 4.42% Stake For ₹734 Crore In Akzo Nobel India

Gold Tumbles ₹700 To ₹98,420/10g, Strong US Dollar & Fed Rate Worries Weigh

Gold Tumbles ₹700 To ₹98,420/10g, Strong US Dollar & Fed Rate Worries Weigh

Adani Enterprises ₹1,000 Crore Bond Issue Fully Subscribed, Investors Respond In Just Three Hours

Adani Enterprises ₹1,000 Crore Bond Issue Fully Subscribed, Investors Respond In Just Three Hours

Centre Tells Delhi High Court There's No Proposal To Issue ₹50 Coin Amid Plea Over Note's...

Centre Tells Delhi High Court There's No Proposal To Issue ₹50 Coin Amid Plea Over Note's...