China boosts macroeconomic cooperation in ‘constructive’ trade talks with US
- Negotiators review progress of phase one trade deal in telephone conversation on Tuesday
- Both sides say they are committed to making progress on the agreement signed last year
China said its lead negotiator had discussed greater coordination on macroeconomic policies with the US in a phone conversation, as both sides said they were committed to making progress on their phase one trade deal.
Chinese Vice-Premier Liu He spoke with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Tuesday to discuss the agreement’s implementation.
A brief statement by the Chinese side described the talks as “constructive” and said both sides would create favourable conditions to continue the deal.
“Both sides had a constructive dialogue regarding stepping up macroeconomic policies coordination and the implementation of the phase one trade deal,” a statement released by the Chinese government said.
China and the US reached the phase one trade agreement on January 15. The deal took effect one month later and the two sides have remained in regular contact on its implementation, with a top-level review scheduled every six months. Talks to review the implementation were originally expected to occur on August 15.
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A statement by Lighthizer’s office did not mention coordination of macroeconomic policies, but said the negotiators had discussed further action needed to make progress on the trade deal.