Chinese trade ministry announces talks in Washington

Chinese trade ministry announces talks in Washington
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China's Ministry of Commerce said Thursday that high-ranking officials will travel to Washington, D.C., later this month to hold trade talks with their American counterparts.

The Associated Press reported that the ministry said negotiations would take place on Jan. 30 and Jan. 31. The talks are a follow-up to discussions at the Group of 20 summit in Argentina late last year, where China and the U.S. agreed to hold off on imposing additional tariffs for 90 days.

China's economy czar, Vice Premier Liu He, was invited to Washington by U.S. Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerOn The Money: Economy adds 164K jobs in July | Trump signs two-year budget deal, but border showdown looms | US, EU strike deal on beef exports Chinese, US negotiators fine-tuning details of trade agreement: report The Trump economy keeps roaring ahead MORE, according to the ministry statement.

President TrumpDonald John TrumpSarah Huckabee Sanders becomes Fox News contributor The US-Iranian scuffle over a ship is a sideshow to events in the Gulf South Korea: US, North Korea to resume nuclear talks 'soon' MORE met in December with Chinese President Xi Jinping, where the two sides agreed to hold off on further tariff increases amid ongoing trade talks. The White House said at the time that China had agreed to start purchasing agricultural products from the U.S.

The two sides have been locked in an escalating trade dispute for months. The U.S. has slapped billions of dollars of duties on Chinese imports, while China has responded with retaliatory penalties on American products.

The exchanges have raised concerns of a trade war between the world's two largest economies, which could adversely affect global markets.

Trump has warned that he is a "Tariff Man" and would be willing to implement additional penalties on Chinese products if it does not agree to a deal with the U.S.