China-US relations

US-China to resume face-to-face talks next week, reports say

U.S. Secretary of the Treasury Steven Mnuchin (2nd L) speaks as U.S. Trade Representative Robert Lighthizer (3rd L) and U.S. Secretary of Commerce Wilbur Ross (L) listen during a meeting between U.S. President Donald Trump and Chinese Vice Premier Liu He (R) in the Oval Office of the White House February 22, 2019 in Washington, DC. Liu is in Washington with the Chinese delegation to participate in the U.S.-China trade talks.
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US officials plan to travel to China next week to resume face-to-face talks aimed at ending a trade war between them, media reports said.

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin plan to fly to Beijing next week to meet with Chinese Vice President Liu He, The Wall Street Journal reported, citing unnamed Trump administration officials.

It also said that a Chinese delegation led by Mr Liu is expected to continue talks in Washington the week after, with the aim of closing a deal by late April.

Talks with China are going "very well" Mr Trump said at a press conference on Tuesday held jointly with Brazil's president Jair Bolsonaro.

US-China trade war cost US economy $7.8bn

A cargo ship is seen at a port in Qingdao in China's eastern Shandong province on October 12, 2018
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The US-China trade war had a negative effect of $7.8bn on an annual basis for the US economy, according to a study.

The US and China placed tariffs on billions of dollars of one another's goods over the past year - a trade war that has contributed to the slowdown of the global economy.

"After accounting for higher tariff revenue and gains to domestic producers from higher prices, the aggregate welfare loss was $7.8bn (0.04% of GDP)," according to a research published by the National Bureau of Economic Research, co-written by researchers at UCLA, Berkeley, Columbia and Yale.

US official says more work to do on China trade talks

U.S. Secretary of the Treasury Steven Mnuchin listens during a Financial Stability Oversight Council meeting October 16, 2018 at the Treasury Department in Washington, DC
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US Treasury Secretary Steven Mnuchin has told CNBC a lot of progress has been made on a trade deal with China but a deal "is not done yet."

"We still have more work to do. We hope to make progress this month and if we do, there would be a summit between the two presidents," Mnuchin said.

He added that there had to be "real structural changes".

Chinese want face-off with Trump, says commentator

President Trump has given his strongest hint yet that he will extend the deadline for a trade deal with China beyond 1 March.

Ryan Hass, a former China advisor to President Obama who is now with the Brookings Institution think tank in Washington DC, has been explaining why such an extension needs to happen to get a deal done

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