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China-US trade talks start again

China and the United States kicked-off a new round of trade talks in Shanghai on Wednesday, July 31, following a hiatus of almost three months, amid renewed accusations from President Donald Trump that Beijing continues to rip-off the US.

US delegates including Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer started talks with their Chinese counterparts including Vice Premier Liu He on Wednesday morning at the Xijiao State Guest Hotel, a leafy compound of luxury reception buildings and accommodation in the west of the port city, according to a pool report.

Mnuchin, Lighthizer and Liu appeared together for photographers. The Chinese side of the negotiating table contained six members in total; the US side had five, according to the report.

The Americans arrived in Shanghai on Tuesday and attended a dinner at the Fairmont Peace Hotel in the evening.

A person familiar with the event described the atmosphere at the dinner as being all about rapport building without substance on negotiations.

Just as the dinner started, Trump released a series of tweets lashing out at China for what he said is its unwillingness to buy American agricultural products and said it continues to rip off the US

The People’s Daily, mouthpiece of the Communist Party, responded on Wednesday with a commentary saying that China has no motive to rip-off the US and has never done so, and China will not make concessions against its principles on trade.

Read more on The Hindu BusinessLine.

 

 

Source: The Hindu BusinessLine

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