Top US and Chinese negotiators held telephonic talks on Tuesday as the top two economies seek to resolve their trade war, more than a week after they declared a truce.
The talks had broken down in May over US accusations that Beijing had reneged on its commitments, and the dispute escalated with the two sides exchanging steep increases in punitive tariffs. But the US President,Mr. Donald Trump, and the Chinese leader, Mr. Xi Jinping, agreed to revive negotiations when they met on the sidelines of the G20 summit in Japan on June 29.
The US Treasury Secretary, Mr. Steven Mnuchin, and the Trade Representative, Mr. Robert Lighthizer spoke with the Chinese Vice Premier,Mr. Liu He, and the Commerce Minister,Mr. Zhong Shan, on Tuesday. White House economic adviser, Mr. Larry Kudlow told reporters the talks 'went constructively' but it was 'too soon for details.'
In an interview with the Fox Business Network, Mr. Kudlow described the discussions as 'preliminary' and said meetings will 'probably' be arranged, but did not give details. Mr. Kudlow noted that Mr. Trump has agreed to hold off on imposing new tariffs and will allow certain US products to be sold to Chinese telecom giant Huawei.