U.S. Treasury Secretary Steve Mnuchin and Wang Yang attend the U.S. - China Comprehensive Economic Dialogue to discuss bilateral economic and trade issues in Washington, U.S., July 19, 2017. REUTERS/Yuri Gripas
Yahoo Finance/WSJ: U.S., China Quietly Seek Trade Solutions After Days of Loud Threats
China and the U.S. have quietly started negotiating to improve U.S. access to Chinese markets, after a week filled with harsh words from both sides over Washington’s threat to use tariffs to address trade imbalances, people with knowledge of the matter said.
The talks, which cover wide areas including financial services and manufacturing, are being led by Liu He, China’s economic czar in Beijing, and U.S. Treasury Secretary Steven Mnuchin and U.S. trade representative Robert Lighthizer in Washington.
In a letter Messrs. Mnuchin and Lighthizer sent to Mr. Liu late last week, the Trump administration set out specific requests that include a reduction of Chinese tariffs on U.S. automobiles, more Chinese purchases of U.S. semiconductors and greater access to China’s financial sector by American companies, the people said. Mr. Mnuchin is weighing a trip to Beijing to pursue the negotiations, one of these people said.
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WNU Editor: I am very skeptical that the Chinese are going to compromise. China's economic model is based on exports and large trade balances in its favor. They are not going to shift on what they see is an essential policy for their growth and prosperity. They will only start to shift when more tariffs are imposed, and restrictions on their investments are being implemented.
More News On Reports That The U.S. And China Are In Talks To Avoid A Trade War
The US and China are in talks to try to avoid a trade war -- CNN
The US reportedly sent China a to-do list to fix deficit and avoid a trade war -- Business Insider/Reuters
China says it's willing to hold talks with the US to resolve trade differences -- CNBC/Reuters
China and US begin negotiations -- DW
World stocks bounce on report of U.S.-China trade talks -- Reuters