The Chinese government announced Thursday that trade negotiations with Washington will resume.
Asian markets reacted positively to the news.
By the end of August, Vice Commerce Minister Wang Shouwen will meet with US representatives led by David Malpass. This will be the first contact between the two sides since June when Chinese Vice Premier Liu He met US Commerce Secretary Wilbur Ross in Beijing.
Washington is due to impose a new set on tariffs on Chinese goods on August 23, valued at €14bn. China has vowed retaliation, while China’s Communist Party newspaper People’s Daily is pointing to the effect of the trade war on soybean farmers.
The news is putting downward pressure on international oil prices, as it is feared that the Chinese and Turkish crises could affect global growth.