Trade Deal Progress? Top Officials From US and China Hold Discussions

Early on Tuesday, the Chinese Commerce Ministry confirmed that top officials on the US and China trade teams held telephonic discussions to work out issues as they attempt to make progress on the phase one trade deal. According to the ministry, negotiations took place between Chinese Vice Premier Liu He and US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on the interim trade deal.

The Commerce Ministry’s statement elaborates that the high level officials had arrived at “a common understanding on resolving relevant problems”. Trade talks had been progressing well, according to officials on both sides, but had recently run into some obstacles on the issue of tariff rollbacks.

The recent legislation passed by the US Senate on protection of human rights of Hong Kong protesters also served to escalate tensions between the US and China and threatened to derail progress on trade negotiations. On Monday, China summoned US Ambassador Terry Branstad to lodge an official protest against the passing of this legislation and exhorted Trump to avoid signing it into a law.

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Arslan Butt
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Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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