17 August, 2018
The latest headlines crossing the wires concerning China-US trade spat, cites that China's Vice Commerce Minister is said to visit the US for trade talks.
"The Chinese side reiterates that it opposes unilateralism and trade protectionism practices and does not accept any unilateral trade restriction measures", the ministry said.
The last official round of talks was in early June when the USA commerce secretary, Wilbur Ross, met Liu He in Beijing.
While Mr Liu and Mr Ross had also been involved in the four previous rounds, US Treasury Secretary Steven Mnuchin's absence from the coming round rendered it a lower-level meeting.
A Chinese trade delegation will visit the USA this month to kick off a new round of talks, the first since negotiations broke down two months ago.
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The United States' economic boom is the "single most important political story" that has happened this year, National Economic Council Director Larry Kudlow said Thursday.
Other Countries should not be allowed to come in and steal the wealth of our great United States of America. The SCI 300 Index was up 0.59 per cent by mid-morning, having fallen as much as 1.8 per cent shortly after open. Worries about damage to the global economy from the dispute have hurt prices, which hit their lowest since June 2017 overnight.
The two governments are poised to impose a new round of tariff hikes on $16 billion of each other's goods next week in their worsening conflict over Beijing's technology policy.
The Trump administration slapped duties on $34 billion of Chinese goods last month, a move that also prompted immediate retaliation from China.
Providing Brent crude some support were looming US sanctions against Iran's oil exports, set to start from November, with Asian buyers including India, South Korea and Japan already scaling back orders.