US and Chinese negotiators meet in Shanghai on Tuesday to resurrect trade talks between the world’s two biggest economies, with both sides downplaying expectations of an imminent deal. The negotiations in China’s financial hub will be the first face-to-face discussions since negotiations collapsed in May, when US President Donald Trump accused China of reneging on its commitments. Washington and Beijing have so far hit each other with punitive tariffs covering more than $360 billion in two-way trade, in a tense stand-off centred on demands for China to curb the alleged theft of American technology and provide a level playing field to US companies. The two days of talks are to be led on the US side by trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. The negotiations come as Beijing faces heavy pressure over ongoing civil unrest in Hong Kong, and with lingering ill-feeling between the US and China. Days before the Shanghai meeting, Trump threatened to pull recognition of China’s developing nation status at the World Trade Organization — prompting an irritable reply from Beijing about the “arrogance and selfishness” of the US. Trump said Friday he believed Chinese negotiators were hoping to delay a deal until after… Read full this story
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