US-China trade talks shift from Beijing to Washington as Donald Trump, Xi Jinping’s March 1 deadline looms

By: |
Updated: February 19, 2019 2:16:42 PM

The talks follow a round of negotiations that ended last week in Beijing without a deal but which officials said had generated progress on contentious issues between the two trading partners.

US-China trade talks to resume in Washington (Reuters)

The talks between the US and China to end a damaging trade war will resume from Tuesday in Washington, the White House has announced. The talks follow a round of negotiations that ended last week in Beijing without a deal but which officials said had generated progress on contentious issues between the two trading partners.

The talks are aimed at “achieving needed structural changes in China that affect trade between the United States and China. The two sides will also discuss China’s pledge to purchase a substantial amount of goods and services from the United States,” the White House said in a statement.

The two countries are running against time to arrive at a trade deal before the March 1 deadline set by President Donald Trump and his Chinese counterpart Xi Jinping. The US and China have been locked in an escalating trade spat since early 2018, raising import tariffs on each other’s goods.

Last year, Trump imposed tariff hikes of up to 25 per cent on USD 250 billion of Chinese goods. The move prompted China to increase tariffs on USD 110 billion of US goods. Trump and Chinese President Xi Jinping agreed to halt any further tariff increases for 90 days beginning January 1.

Do you know What is Fiscal Policy in India, Expenditure Budget, Customs Duty, Reverse Repo Rate, Receipt Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Next Stories
1RBI to transfer Rs 28,000 crore to government as interim dividend
2Boost for Modi government! RBI announces Rs 28,000 crore transfer as interim dividend
3Ayushman Bharat: How world’s largest healthcare scheme fared in first 150 days