China's vice premier Liu to visit US around the end of January
China's vice premier Liu He is scheduled to visit the United States on January 30th - 31st to negotiate on the trade issues between both countries.
China’s top trade negotiator will be heading to the United States (US) to kick off another round of trade talks between the two nations, as both parties continue to portray an interest to working together amicably to resolve their ongoing trade dispute.
Vice premier Liu He is scheduled to visit the US from January 30th - 31st for negotiations, at the invitation of US treasury secretary Steven Mnuchin and US trade representative Robert Lighthizer, the spokesman for China’s Ministry of Commerce Gao Feng told reporters in Beijing on Thursday.
‘They will work together to further implement the important consensus reached by the two state leaders,’ Mr Gao said, without elaborating more.
Mr Liu is China’s representative to lead the talks with the US and is known to be a top economic counsellor to China’s President Xi Jinping.
China turns to trade talks to support its economic growth
China will be hinging on the trade talks to aid as a boost to its sluggish growth and rising debt levels.
The country has been facing weak economic data in recent months with worsened factory sentiment, falling exports, and risks to deflation, all reflecting tell-tale signs of the country’s sputtering growth conditions.
China’s trade surplus for last year sank to the lowest since 2013, embedding signs of a likely slowdown in trade for this year amid a weak global economic narrative.
China is said to have lowered its economic growth target from last year’s rough target of 6.5%, to a range of between 6.0% and 6.5% for this year.
US and China concluded their first round of talks earlier this month, with China stating that the meeting had helped ‘laid the foundation for resolving issues of mutual concerns’.
According to US officials on the first talk, both parties broached on issues revolving around the purchases of US farm and energy commodities, as well as increased access to China’s markets.
China and the US are on a trade truce which started in early December. The truce has a deadline of 90 days.
If both parties do not reach a deal by March 2, the US will proceed with raising tariffs from 10.0% to 25.0% on an additional US$200 billion worth of Chinese imports.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
See an opportunity to trade?
Go long or short on more than 17,000 markets with IG.
Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.
Live prices on most popular markets
- Forex
- Shares
- Indices
