US and China Back on the Negotiating Table on Trade

July 31, 2018 Share Print 0

The U.S. and China are seeking to restart talks to avert a trade war, according to a Bloomberg News report.

The media outlet said representatives of Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu are talking privately, according to sources familiar.

Mnuchin told CNBC last week there continues to be “some quiet conversations” with China.

So far in the trade war between the two largest economic powers in the world, the U.S. has slapped tariffs on just $34 billion of Chinese products, which China met with retaliatory duties.

The Dow Jones Industrial Average rose more than 80 points Tuesday after the report.

The U.S. Department of the Treasury declined to comment on the status of talks with China.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.