US-China cabinet-level trade talks resume, Trump meets with Liu

[Washington, 10th Reuters]-The US and China started a ministerial trade talk in Washington on the 10th. Since the end of July, the two ministers are seeking direct solutions to the end of the 15-month trade war.

The US Treasury Secretary Mnushin and representative of Lightheiser Trade Representative (USTR) welcomed the Chinese representative, Deputy Prime Minister Liu Tsuru, in front of the USTR this morning.

The U.S. side refrained from resuming talks this week, because of the Chinese government's involvement in the repression of Islamic minorities such as Uyghurs, Chinese surveillance camera giant Hangzhou Haiyue Vision Technology (Hike Vision) <002415. In addition to adding 28 organizations and companies such as SZ> and public security organizations to the de facto embargo list, they announced visa issuance restrictions for Chinese officials.

To counter this, China is planning to tighten restrictions on visa issuance for Americans who are related to dissidents.

US President Trump has announced that he will raise the tariff on $ 250 billion imported from China from 25% to 30% this month on the 15th if there is no progress in negotiations.

Mr. Trump posted on Twitter today that "China wants to deal, but what about me?" He also announced that he would meet with Vice Prime Minister Liu on the 11th at the White House.

According to China's state-run Xinhua, deputy prime minister Liu said China intends to reach agreement on issues that both sides consider important in trade talks to prevent further deterioration in trade disputes between the US and China.

A US Chamber of Commerce official said the two countries could agree on a currency agreement in exchange for delaying tariff increases.

Some media reported that China is considering a “provisional” agreement to stop US additional tariffs by purchasing additional US agricultural products. Mr. Trump argues that he seeks a "large agreement" that solves the major intellectual property problems.

According to statistics published by the US Department of Agriculture on the 10th, China has rapidly expanded soy and pork imports from the United States before the trade talks. Private exporters sell 398,000 tons of soybeans to China. The day's sales volume surged on the second day of the week.