China sends trade envoy to U.S., welcomes Trump ZTE comments

China sends trade envoy to U.S., welcomes Trump ZTE comments

Expanding on Trump's message, White House deputy press secretary Lindsay Walters said in a statement, "The President's tweet underscores the importance of a free, fair, balanced, and mutually beneficial economic, trade and investment relationship between the United States and China". "Everyone is looking for some kind of deal", he told Politico in an interview, adding that no agreement had been reached yet.

Negotiators from the USA and China are scheduled to meet in Washington on Monday, where, after months of trade tensions, Beijing is said to be open to purchasing a wider array of US goods and services. "It's not clear, of course, if he's planning to really reverse it or think of a solution in a larger context, but it is something that is just out of the norm", said Amanda DeBusk, the chair of the global trade and government regulations practice at the firm Dechert, LLP.

Asian shares were mostly lower in muted trading Tuesday amid continuing uncertainty over trade tensions between China and the U.S.

Trade talks with China on plans for US tariffs on Chinese goods and Chinese retaliatory tariffs are underway in Washington this week.

The move was announced in a tweet by Trump on Sunday and comes amid pressure from China's government to back off the sanctions on ZTE, a major Chinese government-linked telecommunications giant.

After ZTE failed to take action against company employees involved in the illegal exports, the Commerce Department last month banned US companies from supplying goods to ZTE for seven years.

More news: Hamburg Suffer First Ever Relegation On Dramatic Bundesliga Final Day

ZTE announced last week the USA sanctions would force it to curtail major operations. Officials from Beijing are expected to arrive in D.C. armed with a list of items they will offer to import from the U.S.to meet that goal, The Wall Street Journal reported.

At the Beijing talks, the Trump administration handed China a list of hard-line demands that trade experts said could make it even more hard to resolve the trade disputes. In March, the Trump administration slapped tariffs on imported steel and aluminum.

"The Chinese have said 'we want to see the specifics.' We gave them all the specifics in terms of trade issues". China's Commerce Ministry has pledged to immediately.

More than 120 industry and business representatives from the United States and China will have an opportunity to testify before the interagency Section 301 Committee on the potential impact of the tariff plan over the next three days, according to the USTR's Office.

Increasing U.S. exports of liquefied natural gas could also be an area where the two countries could agree, he said.

Related Articles