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Trade war

China and US to restart trade talks as tariffs add up

Beijing's vice commerce minister to head stateside in late August

The U.S.-China trade war has escalated since they held their last round of trade talks in Beijing in June.   © Reuters

BEIJING -- China will send Vice Commerce Minister Wang Shouwen to the U.S. later this month to resume trade talks that have been stalled since early-June.

The Chinese Ministry of Commerce said on Thursday that Wang will meet with David Malpass, undersecretary for international affairs at the Department of the Treasury, at the invitation of the U.S.

Wang was in charge of trade negotiations when Vice Premier Liu He led a Chinese delegation to the U.S. in June.

The U.S. and China in July hit each other with additional 25% tariffs on $34 billion worth of goods. Each side plans to do it again on Aug. 23, slapping 25% levies on another $16 billion in products.

The U.S. also intends to impose 25% tariffs on $200 billion worth of Chinese imports. China has countered by disclosing a list of American goods, worth $60 billion, on which it plans to apply additional tariffs of 5% to 25%.

China seems eager to resume the talks, as the tit-for-tat battle threatens its slowing economy. Yet Beijing remains completely at odds with the Donald Trump administration.

The Ministry of Commerce reiterated on Thursday that China opposes unilateralism and protectionism, and that it will not tolerate trade restrictions in any form.

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