In the face of a growing decline in their economy, the Chinese seem to be getting serious about negotiation with Trump:
U.S. officials expect China’s top trade negotiator may visit Washington this month, signaling that higher-level discussions are likely to follow this week’s talks with mid-level officials in Beijing as the world’s two largest economies try to hammer out a deal to end a tit-for-tat tariff war.
“The current intent is that the Vice Premier Liu He will most likely come and visit us later in the month and I would expect the government shutdown would have no impact,” U.S. Treasury Secretary Steven Mnuchin told reporters on Thursday in Washington. “We will continue with those meetings just as we sent a delegation to China.”
People familiar with the talks in Beijing said on Thursday that hopes were mounting that Liu would continue talks with U.S. Trade Representative Robert Lighthizer and Mnuchin.
Talks at that level are viewed as important for making the key decisions to ease a festering trade war, which has disrupted trade flows for hundreds of billions of dollars worth of goods and roiled global markets.
U.S. and Chinese officials made more progress on straightforward issues such as working out the details of Chinese pledges to buy a “substantial amount” of U.S. agricultural, energy and manufactured goods and services, sources said.
Since the Trump-Xi meeting, China has resumed purchases of U.S. soybeans. Buying had slumped after China imposed a 25 percent import duty on U.S. shipments of the oilseed on July 6 in response to U.S. tariffs.
It’s worth noting we have Lighthizer to thank for the revision of NAFTA, one of Trump’s key accomplishments.