China, US: Trade Talks Scheduled for Early January in Beijing

US trade delegation to travel to China next month: Report

US trade delegation to travel to China next month: Report

A US trade team will travel to Beijing the week of January 7 to hold talks with Chinese officials, Bloomberg reported on Wednesday, citing two people familiar with the matter.

"The two sides have indeed made specific arrangements for face-to-face consultations in January in addition to continuing intensive telephone consultations", said Gao, without confirming the date of the planned meeting.

While Trump administration officials have recently held trade talks with their Chinese counterparts over the phone, this will be the first in-person meeting since a tariff ceasefire agreement was reached at the Group of Twenty summit in Buenos Aires last month. Treasury Secretary Steven Mnuchin said last week the USA team and its counterparts have held discussions over the phone.

Word of the meeting follows small signs of progress -- and the absence of new threats from Trump -- while the two sides work to ease trade tensions by March 1.

On Sunday, Beijing's commerce ministry said China and the U.S. "made new progress" on the issues of trade balance and intellectual property during a phone call between officials from the two countries. China also announced the suspension from January 1 to March 31, 2019, of 25 percent of the taxes applied to 144 products of the USA automotive sector and advanced new agreements in the fields of agriculture and energy.

According to a notice by China's customs authority, US rice that meets inspection and quarantine requirements can enter the country.

The two countries have been in close communication even during the holiday period, he said. Visit MarketWatch.com for more information on this news.

"Even as the USA side is in the Christmas holiday period, China and the United States economic and trade teams have been in close communication, and the consultations are progressing in an orderly manner as scheduled", Gao said. He is pushing the Asian nation to reduce trade barriers and stop alleged theft of intellectual property.

Beijing so far has pledged to resume buying American soybeans and to at least temporarily lower retaliatory tariffs on US autos.

China's Commerce Ministry announced the meeting plans Thursday. He said that March 1 was a "hard deadline" that was endorsed by Trump, Bloomberg reported.

But Trump and other members of his trade team, including National Economic Council Director Larry Kudlow, have said they could further delay an escalation in tariffs if the two sides made sufficient progress.

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