China and US to hold trade talks in Beijing on January 7-8

Beijing, Jan 4 China and the United States will hold vice ministerial level trade talks in Beijing on Jan. 7-8, as the two sides look to end a dispute that is increasing pain torment on both economies and roiling worldwide financial markets. The two countries have been secured an exchange war for a great part of the previous year, disturbing the stream of many billions of dollars worth of merchandise and feeding fears of a global economic slowdown.

A working group led by Deputy US Trade Representative Jeffrey Gerrish will come to China to have "positive and productive dialogs" with Chinese partners, China's business service said in an announcement on its site. The service said the two sides "confirmed" the dates in a telephone approach Friday morning, but did not provide different details.

At a summit in Argentina late last year, US President Donald Trump and Chinese President Xi Jinping consented to a truce, choosing to hold off on forcing more taxes for 90 days beginning Dec. 1 while they attempt to arrange an arrangement. Presently China and the United States confront a key March due date for talks to end the damaging trade war, or Washington could continue with a sharp hike in US tariffs on Chinese goods originally set for Jan. 1 and Beijing could retaliate.

Trump has said talks toward an arrangement are advancing great, yet it is indistinct if Beijing will yield to key US demands over trade imbalances, market get to, and alleged Chinese maltreatment of protected innovation. Data this week showed a marked loss of momentum in the world`s two largest economies at the end of last year.

US factory activity slowed more than expected in December, as per the Institute for Supply Management (ISM), while Chinese data on Monday showed its manufacturing activity contracted for the first time in more than two years.