United States team to visit China for trade talks

US manufacturers say Trump tariffs will bring higher prices, not more jobs

The US and China's trade talks will attempt to end disputes between the two countries, which have been causing volatility in global financial markets.

He said slowing consumer demand in China gives Trump an edge in ongoing trade negotiations.

The US and China have exchanged tit-for-tat tariffs on more than $300 billion worth of goods in total two-way trade, locking them in a conflict that has begun to eat into profits and contributed to stock market plunges.

A team led by Deputy US Trade Representative Jeffrey Gerrish will come to China to have "positive and constructive discussions" with Chinese counterparts, China's commerce ministry said in a statement on its website.

In the same year, late paramount leader, often credited with China's "Reform and Opening" policy which led to its economic transformation, met USA president in the United States.

In early December, US President Donald Trump and Chinese President Xi Jinping called for a truce in their escalating trade war after meeting on the sidelines of the G20 summit in Buenos Aires, but the two countries have yet to reach a final agreement in their dispute.

Data this week pointed to signs of strain in the U.S. and China at the end of past year. This action was in line with Mr. Trump's election promises that he will make trade fair with its trade partners and blaming China for making manufacturers in America less competitive.

"The negotiations next week are important because they will establish expectations, but we shouldn't expect major breakthroughs", said Mr Myron Brilliant, vice-president of worldwide affairs at the US Chamber of Commerce. Both countries made a decision to suspend imposition of new tariffs on each other for the next 90 days and implement consensus that were reached between both presidents during the G20 meeting earlier this month.

The presidents of China and the U.S. have exchanged messages vowing to boost cooperation despite a bruising trade war on the 40th anniversary of the countries' diplomatic relations, Chinese state media reported. For the 2018 full year, Apple shares fell 7 percent, though they are up about 24 percent since Trump took office in January 2017.

The makeup of the US team was announced Friday by the trade representative's office.

In a separate statement on Friday, USTR said the delegation will also include Under Secretaries from the US Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the White House.

For their part, Chinese officials are unhappy with USA curbs on exports of "dual use" technology with possible military applications. But that was due partly to exporters rushing to beat new duties - a trend that is fading.

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