China says trade talks have resumed with US

China says trade talks have resumed with US
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China’s Commerce Ministry said Thursday that Washington and Beijing have resumed trade talks, The Associated Press reported.

Ministry spokesman Gao Feng said that the two sides are “maintaining close contact,” but gave no details about who is involved in discussions.

“High-level contacts between the two sides on economics and trade have resumed following the Nov. 1 conversation between the Chinese and American heads of state,” said Gao. “The work team is maintaining close contact to earnestly implement the consensus reached by the two heads of state.”

Presidents Xi Jinping and Trump are due to meet later this month at the G-20 summit in Argentina.

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Treasury Under Secretary David Malpass led a U.S. team in discussing trade issues via teleconference with Chinese officials on Tuesday ahead of the G-20 meeting, a Treasury spokesperson told The Hill on Thursday. 

 

Reuters reported Wednesday that China sent a written response to U.S. demands for trade reform, which could jumpstart negotiations.

The three U.S. government sources did not reveal to Reuters if the response contained any concessions.

White House economic adviser Larry Kudlow said earlier this month that G-20 talks with Xi could include trade discussions.

China and the U.S. have exchanged billions in tit-for-tat tariffs over the last several months, keeping the global trade market on edge as the world's two largest economies clash.

In September, the Chinese declined a meeting after Trump hit U.S. imports from China with a new 10 percent tariff on $200 billion in goods. Beijing retaliated with $60 billion of its own tariffs.

Trump said he would raise tariffs to 25 percent without a U.S.-China deal.

Trump has also threatened another $257 billion in tariffs on Chinese goods, which would cover all U.S. imports from China.

Updated: 11:37 a.m.