Trade Negotiations Are Expected To Resume, And The US Will Postpone Tariffs On US $300 Billion Chinese Products.

According to people familiar with the matter, the United States is willing to suspend tariffs on the next 300 billion dollar Chinese products, while Beijing and Washington are preparing for the resumption of trade negotiations between the two countries.

It is reported that the decision the United States is still considering may be announced later this week when President Donald Trump and Chinese President Xi Jinping met at the group of twenty summit in Osaka, Japan. Liu He, US trade representative, and vice premier of the Chinese State Council, on Monday, discussed the general agenda of the meeting between Trump and Xi Jinping at a telephone conference.

The people who heard the call from the US side said that the dialogue between the two sides was fruitful. People familiar with the matter said that the two sides discussed how to demonstrate the resumption of trade negotiations to their respective countries, which is a victory.

A senior US government official said on Tuesday that the United States would not accept further conditions on Tariffs in the resumption of negotiations. The US side also expects that the summit of the two leaders will not reach a trade agreement. After the negotiations broke down last month, the Trump administration said that the purpose of the meeting was to open the way for a trade agreement.

People familiar with the matter said that although both sides still hoped that the other side would make significant concessions, the two countries agreed to reduce the tit for tat response and seek a long-term truce to pacify the financial market. It is not clear whether the United States and China will set a clear timetable for tariff truce.

People familiar with the matter also revealed that the United States is prepared to temporarily postpone the introduction of new tariffs, otherwise Beijing will not agree to this meeting.

The negotiators said that some advisers urged Trump not to set a clear deadline for the summit of the group of twenty, so as to avoid the recurrence of similar meetings between the leaders of the two countries in December last year and the 90 day truce. At that time, lettse and other think-tank said that it was a fixed tariff suspension period to allow more time for negotiations, but the deadline was repeatedly pushed back. After the collapse of the US China talks last month, Trump fulfilled his threat and raised the tariff rate of $200 billion on Chinese goods from 10% to 25%.

The Chinese Ministry of Commerce said in a notice that the Chinese leader of the China US comprehensive economic dialogue, Liu Hang, should talk to the US trade representative, Mr. lettse, and finance minister Mnuchin on Monday, exchanging views on economic and trade issues, and the two sides agreed to continue to maintain communication.

The office of the United States trade representative did not respond to requests for comment by Mr. lettse and Liu He.