U.S. invites China to talk
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U.S. invites China to trade talks
TacMarkets - The Trump administration has invited Chinese officials to restart trade talks, the White House’s top economic adviser said on Wednesday, as Washington prepares to further escalate the U.S.-China trade war with tariffs on $200 billion worth of Chinese goods.
Larry Kudlow, who heads the White House Economic Council, told Fox Business Network that U.S. Treasury Secretary Steven Mnuchin had sent an invitation to senior Chinese officials, but he declined to provide further details.
Two people familiar with the effort said Mnuchin’s invitation was sent to his Chinese counterparts, including Vice Premier Liu He, the top economic adviser to Chinese President Xi Jinping, for talks in coming weeks.
Asian shares advanced on Thursday on hopes that a deal could be struck in the bitter tariff dispute between the world’s two largest economies. In China, the yuan jumped and stocks rose.
The Trump administration is preparing to activate tariffs on $200 billion worth of Chinese goods, hitting a broad array of internet technology products and consumer goods from handbags to bicycles to furniture. It was unclear whether any U.S.-China talks would delay the duties.
The timing and location of the proposed meeting were unclear, the sources familiar with the matter said. Mid-level U.S. and Chinese officials met on Aug. 22 and 23 with no agreements.
A U.S. Treasury spokesman did not respond to requests for comment.