Beijing will send a delegation led by commerce vice-minister Wang Shouwen to the US for trade talks at the end of August, in the first formal attempt at negotiations since Washington imposed tariffs on $50bn of Chinese goods.
The White House is threatening tariffs on a much larger range of goods, in a potential further blow to China’s export industry, as it tries to pressure US corporations into “reshoring” production.
China, in return, is attempting to appeal to Wall Street and US companies by rolling out long-sought investment liberalisation measures, especially in the financial services sector. It has pointedly prioritised access for European and Asian companies, as a reminder to Americans of the opportunity costs of the trade tariffs.
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