The United States and China resumed high-level trade negotiations between the two economic superpowers, following the “ceasefire” previously agreed. There were telephone conversations between US Finance Minister Steven Mnuchin and Trade Representative Robert Lighthizer with Chinese Deputy Prime Minister Liu He and Trade Minister Zhong Shan.
The White House economic adviser, Larry Kudlow, said that the talks were constructive and that both parties discussed a personal meeting. However, Kudlow warned that no miracles can be expected around a trade deal. Beijing stated that both sides had an exchange of views on the ongoing trade dispute.
US President Donald Trump and his Chinese colleague agreed at the recent G20 summit in Japan that trade talks will resume. Trump also confirmed that it would no longer accept new import tariffs on Chinese products and announced that it would temporarily lift the blockade of Chinese telecom giant Huawei.
US Secretary of Commerce Wilbur Ross stated that Huawei has not yet been blacklisted, but there are more flexible rules around the company. The US issues licenses to US companies to deliver products to Huawei, as long as there is no danger to national security. Washington suspects Huawei of close ties with the Chinese government and accuses the company of espionage practices.