Donald Trump says first day of China trade talks went ‘very well’, plans to host Vice-Premier Liu He at White House on Friday
- ‘We had a very, very good negotiation,’ US president says
- World’s two largest economies are seeking a way out of a 15-month trade war
US President Donald Trump said on Thursday that he will meet Chinese Vice-Premier Liu He on Friday, the second of two days of high-level US China trade talks aimed at averting further tariff increases, and that negotiations are “going very well” so far.
This week’s meetings convened amid a spike in friction between the two countries on many fronts and indications of a trade war-related slowdown in global economic growth, which is hitting China particularly hard.
US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer had a full day of meetings with a delegation led by Liu, resuming negotiations at the highest level since the two US officials met Liu in Shanghai in July.
“We just completed a negotiation with China,” Trump told White House reporters after the first day of talks ended.
“We’re doing very well. We’re having another one tomorrow. I’m meeting with the vice-premier over at the White House, and I think it’s going really well. We had a very, very good negotiation with China. They’ll be speaking a little bit later, but they’re basically wrapping it up and we’re going to see them tomorrow right here.”
After escalating tariffs on each other’s imports throughout the trade war that started in July last year, the two sides are aiming to avert USTR’s plan to impose an additional 5 per cent duty on US$250 billion worth of Chinese goods on October 15, raising the levy to 30 per cent.