China, US to hold trade talks in late August

The US Treasury Department building on Pennsylvania Avenue in Washington DC

The US Treasury Department building on Pennsylvania Avenue in Washington DC

Having made little progress in the previous meetings, the White House said on August 3 that the United States is open to further talks with China on how to resolve the festering trade dispute, according to Reuters.

The Commerce Ministry said Beijing "reiterates its opposition to unilateralism and trade protectionism and does not accept any unilateral trade restrictions".

A senior Chinese delegation will visit the United States for trade talks later this month, the Commerce Ministry announced on Thursday. A senior USA government official confirmed the talks and said: "We expect to discuss steps to achieve a more balanced trading relationship".

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US Commerce Minister Wilbur Ross held talks with Chinese Vice Premier Liu He in Beijing in June. "China welcomes communications and dialogue on the basis of reciprocity, equality and integrity", it said.

Following that, Washington imposed its first round of 25 tariffs on $34 billion of Chinese goods on July 6 in response to complains Beijing steals or pressures foreign companies to hand over technology.

The two countries plan to launch a new round of tit-for-tat tariffs on $16 billion worth of goods from each country on August 23.

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