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8 January, 2019 00:00 00 AM
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US negotiators in Beijing for trade war talks

AFP, Beijing

US negotiators yesterday headed into talks with Chinese counterparts as the two countries seek a deal to end a trade war that has raised fears of global economic turmoil.

The visiting delegation, led by Deputy US Trade Representative Jeffrey Gerrish, left its hotel in Beijing without speaking to reporters.

President Donald Trump raised hopes last week that an agreement could be found to end the months-long dispute, during which the world’s top two economies have imposed import duties on more than $300 billion of each other’s goods.

“I think we will make a deal with China,” Trump said on Friday.

“We have a massive trade negotiation going on with China. President Xi (Jinping) is very much involved, so am I. We’re dealing at the highest levels and we’re doing very well.”

Trump on Sunday headed to the US presidential retreat at Camp David, where he said he would discuss a trade deal with China with senior aides, among other issues.

The American delegation in Beijing includes officials from the Treasury, Commerce, Agriculture and Energy departments.

The talks come a month after Trump and Xi agreed to suspend a planned tariff hike for three months to give negotiators space to reach an agreement and end a dispute that has roiled world markets.

The ratcheting dispute has pummelled confidence in China, sending the stock markets tumbling while the yuan has fallen against the dollar.

In addition to the bruising trade war, China is also grappling with a slowing domestic economy, with growth slowing to 6.5 percent in the third quarter, as a battle against debt has ramped up.

The government has set a growth target of around 6.5 percent for 2018, down from 6.9 percent in 2017.

The manufacturing sectors in both countries have been hit by the trade dispute, with China’s contracting last month for the first time in over two years, according to official data.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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