China Says Trade Talks With US Planned For January

China US trade negotiators plan ‘to meet in January

Gao Feng, spokesperson at the commerce ministry told reporters that they will continue consultations through intensive telephone calls at the moment and he also said that the negotiations have been the Christmas break in the United States. Beijing this week announced a third round of tariff cuts, lowering import taxes on more than 700 goods beginning January 1, 2019, as part of its efforts to open up the economy and lower costs for domestic consumers.

Trump has agreed to put on hold a scheduled increase in tariffs on some $200 billion in annual imports from China while the negotiations take place through March 1.

Trump agreed to postpone tariff hikes on $200 billion of Chinese imports planned for January 1.

News of the talks was followed by a potential source of renewed strain: a Reuters report saying Trump might declare a national emergency next month that would ban US companies from using telecommunications equipment made by Huawei and ZTE Corp.

Bloomberg reported that a USA trade team will travel to Beijing on the second week of January to hold talks with Chinese officials.

"The failure of cabinet-level officials to even meet in the first half of the 90-day period makes it impossible to anticipate fundamental change on the Chinese side", said Derek Scissors, a China expert at the American Enterprise Institute.

Another factor that might drop the trade tension between the two nations is China's "negative" list that was issued on Tuesday. This will open China's industries to western investments. In it, China has proposed a ban on forced technology transfer and illegal government "interference" in foreign business operations, practices that have come under the spotlight during the trade war.

United States prosecutors accuse Meng Wanzhou of misleading multinational banks about Iran-linked transactions, putting the banks at risk of violating USA sanctions.

Officials have been in constant contact with the try to determine what else is needed to move things forward in January, according to people familiar with the talks.

It would be the latest step by the Trump administration to cut Huawei Technologies and ZTE Corp, two of China's biggest network equipment companies, out of the USA market.

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