China’s chief trade negotiator is headed back to the US at the end of the month for the next round of talks, the Chinese government confirmed yesterday.
“At the invitation from US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer, Vice Premier Liu He (劉鶴) will visit the US on Jan. 30 to Jan. 31 for trade negotiations,” Chinese Ministry of Commerce spokesman Gao Feng (高峰) told reporters in Beijing. “They will work together to further implement the important consensus reached by the two state leaders.”
Liu is a top economic aide to President Xi Jinping (習近平) and is in charge of the talks with the US. This would be his second trip to Washington to talk trade, after he appeared to reach an agreement in May last year, only for US President Donald Trump to back away from it.
This time, Liu travels to Washington with a more challenging domestic economic backdrop, which makes it even more pressing to strike a deal.
On top of the uncertainty generated by the trade dispute, recent economic data has been poor, with worsening factory sentiment, deflation risks and falling exports.
The decline in last month’s exports was due to slowing global demand, the comparison with strong results a year ago and fading front-loading effects, Gao said, talking about exporters shipping products early to avoid being hit with higher US tariffs.
A day after it was reported that the US is investigating China’s Huawei Technologies Co (華為), Gao re-iterated that the world’s two largest economies are deeply intertwined.
“China’s technological advancement is not a threat to the world,” he said in response to a question about Western nations limiting purchases of Chinese-made tech equipment.
Developed nations should be more open to the China’s equipment, instead of making accusations based on hearsay that they are unsafe, Gao said.
“Recently some nations said that Chinese technology products are threats and contain security risks. Those are circumstantial, groundless accusations against Chinese companies and products,” Gao said.
The Chinese Ministry of Foreign Affairs yesterday said that proposed US legislation targeting Huawei, ZTE Corp (中興) and other Chinese telecommunications equipment companies was due to “hysteria,” and it urged US lawmakers to stop the bills.
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