The ongoing US-China Trade War is doing nothing good. Well, the White House’s top economic adviser on Wednesday announced that the Trump administration has proposed to have a fresh round of trade talks with China before moving ahead with its plans to impose steep tariffs on a huge range of Chinese goods.
“There’s some discussions and information that we’ve received that the Chinese government — the top of the Chinese government — wished to pursue talks,” Larry Kudlow, the chief economic adviser to US President Donald Trump, told Fox News. “And so, Secretary [Steven] Mnuchin, who is the team leader with China, has apparently issued an invitation.”
Kudlow refused to offer any other details on the proposed talks adding that “it’s just an invitation” at this stage. According to people familiar with the matter, Mnuchin had sent the offer to a group of Chinese officials led by one of China’s top economic adviser, Vice Premier Liu He.
The fresh trade talk’s proposal comes as the US-China Trade War appears to intensify. Last week, President Donald Trump announced that the government might likely impose new tariffs on $200 billion of Chinese goods very soon. He went on to warn that another, an even bigger round of tariff is “ready to go on short notice if I want.”
Notably, both the US and China have already levied tariffs of 25 percent on more than $50 billion of each other’s exports this year. The next round of US tariffs on Chinese goods, if imposed, will likely make thousands of products from Fitbit fitness trackers, dishwashers to food seasonings even dearer for American consumers. It will also pave way for China’s retaliating tariffs on another $60 billion of US exports, including coffee, meat, furniture, and auto parts.
It remains to be seen if China accepts the fresh trade talks proposal.
