US, Chinese envoys discuss economic coordination in trade meeting

Topics US China trade war | US China | USA

US and Chinese trade envoys discussed strengthening coordination of their government's economic policies during a phone meeting Tuesday, the Ministry of Commerce announced.

The announcement gave no details of the meeting held as part of the Phase 1 truce aimed at ending a tariff war between the two biggest global economies that has disrupted worldwide trade.

President Xi Jinping's government has lobbied Washington since at least 2016 to coordinate macroeconomic policies. Beijing has given no details, but such policies can include economic growth, employment, inflation and trade.

Tuesday's meeting included Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, the ministry said.

The two sides had a constructive dialogue on strengthening the coordination of the macroeconomic policies of the two countries and the implementation of the 'Phase 1' agreement, a ministry statement said.

Under the Phase 1 agreement signed in January, both governments agreed to suspend additional penalties on each other's goods in a fight that erupted in 2018 over Beijing's technology ambitions and trade surplus.

The truce called for talks to be held after six months, but those were delayed due to the coronavirus pandemic. A meeting scheduled for last week was to be held online but was postponed.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel