Fresh round of US-China talks set to start today in bid to resolve trade war
A fresh round of talks between the US and China will begin in Washington today in a bid to resolve the ongoing trade war.
Deputy-level talks will start today, while higher level discussions will take place later in the week as China’s Vice Premier Liu He arrives in the US.
Read more: US-China trade talks 'making a final sprint' – Chinese state media
President Donald Trump has set a 1 March deadline for a deal, after which he said he would increased tariffs on $200bn (£154.8bn) worth of Chinese imports to 25 per cent from 10 per cent.
But reports emerged last week that Trump was willing to push the deadline back 60 days.
It is hoped this week’s talks will negate the need for a deadline and that the two nations will reach a deal.
Last week a US delegation visited Beijing and after prolonged discussions both sides reported that progress had been made.
Read more: FTSE 100 hits fresh four-month high
The week-long optimism boosted global markets, which have suffered in recent months as a result of escalating tensions between the world’s two largest economies.
Chinese state media said the talks were “making a final sprint” towards a potential, striking a fresh tone of optimism.