US and China to launch formal trade talks

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Washington and Beijing this week will hold their first trade talks since US President Donald Trump launched a trade war against China, which rocked financial markets and raised concerns about supply chains.

Treasury Secretary Scott Beesen and American Trade Representative Jameson Jarir will meet their Chinese counterparts in Geneva this week. China said the Deputy Prime Minister said that Living, its official in the supreme economy, would lead its delegation.

The meeting will be the first high -level interaction between the two sides since Vice President Han Cheng attended Trump’s inauguration in January.

Besense Fox News told Tuesday evening that the two teams will meet on Saturday and Sunday. He said that they have a “common interest” in the conversation because the high level of definitions is “not sustainable.” But he warned that discussions would be an attempt to reduce tensions instead of negotiations on a broader business deal.

“My feeling is that this will be about the cancellation of the escalation, not about the big commercial deal,” Pesin said during the interview. “We have to get rid of the escalation before we can move forward.”

The meeting represents the first real effort to address the trade war, which witnessed that Washington imposes a 145 percent tariff on imports from China and Beijing to slap a 125 percent revenge tariff on American goods.

It is the first positive sign for companies that were concerned about a record level of the definitions that the two sides have set on each other. It also comes after Trump said on multiple occasions that the countries were negotiating, which were opposed by his team.

“We all know that the United States and China will need to recovery, but today’s announcement of a face -to -face meeting in Geneva at this higher level is greater than expected,” said Windy Kotler, a former US -commercial official who is now vice president at the Asian Association Policy Institute.

Cutler warned that it is important to “maintain expectations under examination,” saying that “it was much easier to impose a tariff against each other than working together on a joint plan to re -engage relations and achieve stability.”

Washington and Beijing were mired. Trump wanted to speak directly to his counterpart, Shi Jinping, but China has made it clear that it would not hold an invitation at the leader level to start negotiations.

Beijing had said earlier that the United States should reduce the definitions as a pre -negotiation condition, but it seemed to reduce its position last week when government media said that there would be no “harm” in holding talks with Washington.

He was asked on Fox News, which is the side of the meeting, Pesen said: “There is no first call, there are a lot of contact points over time.”

The martyrdom in front of congress earlier on Tuesday, the Minister of the Treasury had told the legislators that although the administration was negotiating with 17 out of 18 its main commercial partners, it had not held any talks with Beijing.

The Chinese Ministry of Commerce said that Beijing decided to hold talks after US officials recently alluded on several occasions on the relief of a potential tariff and sent messages about their desire to hold negotiations.

“Based on the comprehensive consideration of global expectations, the special interests of China, and the calls of American companies and consumers, China decided to agree to communicate with the United States,” the ministry said in a statement.

The United States also warned of “using conversations as a cover for coercion and extortion.” The ministry added that other countries were already negotiating with the Trump administration: “It must be emphasized that appeasement does not bring peace, and does not respect the settlement.”

Last month, Trump raised a sale in global stock markets after imposing a “mutual” tariff of up to 50 percent on almost every American trading partner. Then reduce the drawings to the foundation line by 10 percent for 90 days.

The Trump administration has also indicated that it is preparing to announce more customs tariffs in many sectors it considers important. In recent weeks, national security investigations that could lead to fees on chips, consumer electronics, wood, copper, pharmaceutical preparations and critical minerals have been launched. During the weekend, Trump threatened to put tariffs on foreign animation.