China to resume trade talks with Washington

A woman passes by a restaurant with a poster depicting US President Donald J. Trump, stating that all US costumers will be charged 25 percent more than other customers starting from the day president Trump started the trade war with China, in Guangzhou, Guangdong Province, China, 13 August 2018. US President J. Trump announced on 10 July that US is preparing to impose 10 percent tariffs worth 200 billion US dollars on imported goods from China. These tariffs would affected mainly consumer goods. EPA-EFE/ALEKSANDAR PLAVEVSKI

China to resume trade talks with Washington


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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.

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