China's commerce ministry today said that Vice Premier Liu He will visit the US on May 9 and May 10 for bilateral trade talks at the invitation of senior US officials. The ministry did not elaborate on the talks or give the expected topics of discussion. The continuation of trade talks between world’s two economies was thrown in jeopardy after President Donald Trump on Sunday said US will impose additional tariffs on Chinese goods, slated to go into effect on Friday. US Trade Representative Robert Lighthizer, who has been an advocate for tough structural changes in China, said Beijing had reneged on commitments it had made previously that would have changed the agreement substantially. Treasury Secretary Steven Mnuchin, considered to be less hawkish toward China, said China's backtracking became clear with "new information" over the weekend.

Source: Mint May 07, 2019 06:22 UTC