China Says ‘Vice Ministerial’ Officials Will Be in Washington for Trade Talks

Trump ‘China thinks I’m going to win

Trump ‘China thinks I’m going to win

Earlier this month, the USA and China agreed to resume talks after several escalations in the dispute that has undermined trade between the two countries and the global economy.

China's Ministry of Commerce said earlier this month that the two sides aim to make "substantial progress" at the October talks.

Upon an invitation from the U.S. side, Liao Min, deputy director of the Office of the Central Commission for Financial and Economic Affairs and vice Finance Minister, will lead the delegation on Wednesday for trade consultations, Xinhua news agency reported.

The news report further mentions that the US Commerce Chief said Lighthizer didn't mention the possibility of an interim deal that could deescalate trade tensions by further delaying tariff escalation.

Beijing announced Friday it will lift punitive tariffs on American soybeans.

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The head of the biggest United States business lobbying group added that it would be hard to secure an agreement that fully addresses USA demands for sweeping changes to China's intellectual property and technology transfer practices, market access and subsidy issues.

Lighthizer and U.S. Treasury Secretary Steven Mnuchin are expected to meet with China's top trade negotiator, Vice Premier Liu He, in early October.

That followed President Donald Trump's decision to postpone a tariff hike on Chinese imports.

The chamber chief executive said while he's optimistic about an agreement, he's also a realist and "this is not a simple problem".

"Both sides are feeling the pain now".

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