WASHINGTON: The United States and China are resuming trade talks, raising hopes for a way out of an intensifying dispute between the world’s two largest economies.

White House economic adviser Larry Kudlow told reporters Thursday that the US team will be led by David Malpass, US Treasury under secretary for international affairs. Earlier, China said it would send a delegation led by a deputy commerce minister.

This meeting would be the first between senior US and Chinese officials since June 3 talks in Beijing ended with no settlement. The United States has already imposed taxes on $34 billion in Chinese goods, drawing Chinese retaliation. President Donald Trump is readying tariffs on $216bn more, and Beijing has vowed to counterpunch with its own trade sanctions.

“We haven’t really had a sit-down with them in quite some time at any level. So who knows? But it’s got to be a good thing,” said Kudlow, director of the National Economic Council.

Investors expressed relief at the prospect of a cease-fire in a trade standoff that has been escalating for months. The Dow Jones industrial average was up more than 365 points in late morning trading.

“It’s better to be talking than not talking, particularly in a dispute which shows no signs of let up and where mutual trust is so low,” said Wendy Cutler, a former US trade negotiator who is a vice president at the Asia Society Policy Institute.

Published in Dawn, August 17th, 2018

Opinion

Editorial

Missing links
27 Apr, 2024

Missing links

THE deplorable practice of enforced disappearances is an affront to due process and the rule of law. Pakistan has...
Freedom to report?
27 Apr, 2024

Freedom to report?

AN accountability court has barred former prime minister Imran Khan and his wife from criticising the establishment...
After Bismah
27 Apr, 2024

After Bismah

BISMAH Maroof’s contribution to Pakistan cricket extends beyond the field. The 32-year old, Pakistan’s...
Business concerns
Updated 26 Apr, 2024

Business concerns

There is no doubt that these issues are impeding a positive business clime, which is required to boost private investment and economic growth.
Musical chairs
26 Apr, 2024

Musical chairs

THE petitioners are quite helpless. Yet again, they are being expected to wait while the bench supposed to hear...
Global arms race
26 Apr, 2024

Global arms race

THE figure is staggering. According to the annual report of Sweden-based think tank Stockholm International Peace...