US, China negotiators resume trade war talks

WASHINGTON, July 10 (NNN-AGENCIES) — Top US and Chinese negotiators held phone talks on Tuesday as the world’s top two economies seek to resolve their trade war, more than a week after they declared a truce.

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 US President Donald Trump and Chinese leader Xi Jinping agreed to revive negotiations when they met on the sidelines of the G20 summit in Japan on June 29.

US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer spoke with Chinese Vice Premier Liu He and Commerce Minister Zhong Shan on Tuesday.

White House economic adviser Larry Kudlow told reporters the talks “went constructively” but it was “too soon for details.”

In an interview with the Fox Business Network, Kudlow described the discussions as “preliminary” and said meetings will “probably” be arranged, but did not give more details.

The Chinese commerce ministry said in a brief statement that the two sides exchanged “opinions on implementing the consensus reached between the two countries’ heads of state in Osaka.”

Kudlow suggested that the US was in no hurry to finalize a deal.

“Speed is not an issue, quality is the issue,” Kudlow said. “And so I make no forecast on that and reiterate this view. There’s no timetable, none of that stuff.” — NNN-AGENCIES