20:24 GMT +321 August 2018
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    US, Chinese Officials Agree to Continue Talks to Resolve Trade Row

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    WASHINGTON (Sputnik) - The White House said announced that US and Chinese officials would continue discussions in Washington on Friday which the Trump administration hopes would establish "fair trading relationship". At the same time, Chinese Vice Premier Liu He said China was ready to engage with US on equal terms to resolve the trade dispute.

    "Today, [Trump] Administration officials began a series of meetings with a delegation from the government of China, as part of ongoing trade discussions. The United States officials conveyed the President’s clear goal for a fair trading relationship with China," the White House said in a press release on Thursday. "The United States officials and the Chinese delegation also participated in a meeting with President Donald J. Trump at the White House. The two sides agreed to continue the discussions on Friday."

    The New York Times earlier reported that China was preparing a $200 billion package to cut the trade deficit with the United States. Trump told reporters earlier in the day he doubted the United States and China could reach a fair deal.

    Meanwhile, China's Vice Premier Liu He said on social media that Beijing was ready to engage with the United States on equal terms to resolve their trade dispute.

    "China is ready to join efforts with the US and take necessary measures to resolve outstanding trade and economic issues on equal terms and in mutual interest," he wrote on WeChat.

    Liu He said the US-Chinese relationship was in an important phase and called on Washington to go halfway to secure a "healthy and stable development of bilateral ties."

    A group of Chinese negotiators are preparing to present Trump with a massive package that would reduce the trade deficit between the two countries by $ 200 billion annually, according to media reports.

    The package comes as a response to Trump's tough tariff policies toward China, The New York Times reported on Thursday.

    In March, the United States introduced a 25-percent tariff on imported steel and a 10-percent tariff on imported aluminium. Later, Trump issued a memorandum introducing $60 billion in extra tariffs on China over allegations of intellectual property theft.

    In response, China introduced its own tariffs on goods produced in the United States. Then in April, Trump suggested an additional $100 billion in tariffs against China in response to Beijing's "unfair retaliation."

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    US import tariffs, trade war, negotiations, China, United States
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