© Reuters. FILE PHOTO: U.S. Treasury Secretary Steve Mnuchin greets China’s Vice Premier Liu He

BEIJING (Reuters) – China and United States had “constructive talks” on trade in a high-level phone call on Saturday, state media Xinhua said.

China’s Vice Premier Liu He, U.S. trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin were on the call. The two sides discussed each other’s core issues for the first phase of an initial trade agreement, and agreed to maintain close communication, according to Xinhua.

Xinhua gave no other details in its report on Sunday.

White House economic adviser Larry Kudlow said on Thursday the two countries were getting close to an agreement about ending their 16-month trade war, but he gave no further details on the timing of a possible deal.

The United States and China have been locked in successive waves of tit-for-tat tariffs that have roiled financial markets and threatened to drag growth in the global economy to its lowest rate since the 2007-2008 financial crisis.

An agreement had appeared likely in May, but those prospects were dashed after U.S. negotiators said China backed away from the text of a draft agreement.

Concerns flared again last week amid reports that the trade talks had hit a snag over how and when to reduce tariffs, and how much U.S. agricultural products China would commit to buy.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Boris Johnson’s chance to forge a new role for Britain

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here