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China and America will resume trade negotiations in Washington
On Wednesday, Chinese and American officials are braced for resuming contentious trade negotiations under the cloud of Trump’s forecast that it wouldn’t bring real progress.
The discussions among mid-level statesmen could set a framework for further talks as each side is ready to hit the other with fresh duties on Thursday in an escalating conflict over China's economic policies.
US leader has threatened to come up with fresh tariffs on literally all of the more than $500 billion of China’s products exported to America unless it meets his country’s demands.
The two days of gatherings appear to be the first formal US-China trade negotiations since in June US Commerce Secretary Wilbur Ross talked to Chinese economic adviser Liu He in Beijing.
Following May’s talks the Chinese government is assured that it had assurances from America that duties were off the table. However, less than 10 days after it, the US government told that it would proceed with rolling out its punitive measures.
The Chinese government has told it actually hopes for steady and quiet negotiations to bring an upbeat outcome on the basis of parity, trust, and quality.
US leader accused the Asian trade partner of manipulating its national currency for the purpose of making up for the effect of duties, while arguing the Federal Reserve needs to be more accommodating.
On Tuesday, US statesmen were mostly silent as for the latest round of negotiations. They just told that the partners are currently having working-level debates with representatives from across the US presidential administration.
Previous negotiations were held by cabinet-level ministers, such as U.S. Treasury Secretary Steven Mnuchin, Chinese Vice Premier Liu He and Commerce's Ross.
The Chinese government rejects American allegations that it constantly forces the unfair transfer of American technology and emphasizes that it keeps to World Trade Organization rules.
The United States will publish a headline and core inflation rate on July 13, at 15:30 MT time.
Federal Open Market Committee, a committee within the Federal Reserve System (the Fed), will reveal a detailed record of the most recent meeting on July 7 at 21:00 MT.
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!