China Opens Doors to US Rice for the First Time

On Thursday, China said that trade negotiators from China and the USA are planning to meet in January for talks.

The delegation will be led by Deputy U.S. Trade Representative Jeffrey Gerrish and will include David Malpass, Treasury under secretary for global affairs, Bloomberg said.

"The two sides have indeed made specific arrangements for face-to-face consultations in January in addition to continuing intensive telephone consultations", said Gao, without confirming the date of the planned meeting.

That call came after the two sides discussed "economic and trade issues" by phone earlier in that week, the ministry said.

At the meeting in Buenos Aires, the two leaders agreed to a 90-day truce in the trade war between the world's two largest economies.

Beijing on December 14 announced that starting January 1 it would suspend extra tariffs added to US-made cars and auto parts.

It appears to Chinese officials that the USA itself isn't clear on what it wants, said the people, who asked not to be named because the negotiations are private. Beijing has agreed to resume buying American soybeans and to at least temporarily lower retaliatory tariffs on US autos. Visit MarketWatch.com for more information on this news.

The U.S. Trade Representative's Office and the Treasury Department did not immediately respond to requests for comment.

Publicly, Trump is pushing the Asian nation to reduce trade barriers and stop alleged theft of intellectual property.

But the move, which comes after years of talks on the matter, follows pledges from China's commerce ministry of further USA trade openings earlier this week.

In response, China has resumed purchases of USA soyabeans for the first time in six months, even though hefty tariffs on United States cargoes remain in place.

Ministry spokesperson Gao Feng said at a press conference here that both countries were finalising the details of the meeting. Lighthizer, who isn't scheduled to join the delegation in China, left no wiggle room for the two countries to extend talks beyond 90 days, saying this month that March 1 was a "hard deadline" that was endorsed by Trump.

  • Eleanor Harrison