A published report says the United States and China have agreed to resume semiannual talks on economic and trade issuesDonald Trump took office in 2017, his administration halted the discussions, feeling they had failed to achieve significant results in tackling unfair Chinese trade practices and reducing America’s huge trade deficits with China, the largest with any country.
The Trump administration instead launched more targeted trade negotiations, which ended up triggering a tit-for-tat trade war between the world’s two biggest economies. Both countries imposed billions of dollars of tariffs on the other country’s products.
Those tariffs raised uncertainties among businesses, slowed global economic growth and roiled financial markets. Both countries announced a Phase One agreement resolving some of the issues between in December as part of a cease-fire in the trade war.
Administration officials said that the details of the Phase One deal would be released after the agreement is signed Wednesday.