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U.S. and China trade talks will continue in October

The leaders of the U.S. and Chinese trade talks held a phone call Thursday in the morning and agreed to meet in early October for another round of negotiations, in Washington, D.C.

Liu He, China’s top negotiator on trade, spoke with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. Consultations will be made in mid-September in preparation for the meeting, the Chinese Commerce Ministry said. Previously, both sides had indicated they would meet in September trade tensions between the world’s two largest economies escalated in the last several weeks. Both countries said they will continue talking ahead of that in-person meeting and agreed to "create good conditions for negotiation."

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Previous U.S. - China trade talk

Little progress was made between the United States and China during the last round of face-to-face trade meetings in Shanghai in July. Washington's latest move targets Chinese-made products like TVs and apparel that could cost the typical American consumer. If no deal will be reached more tariffs are on the way. Trump said last month that he will increase rates on existing tariffs from 25% to 30% on $250 billion worth of Chinese goods in October. China also said it would resume tariffs on US imports of automobiles and automobile parts in December.

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