KANTOR: CHINA TALKS TO RESUME NEXT WEEK
WASHINGTON — Talks with China aimed at averting a trade war will resume next week in Beijing, U.S. Trade Representative Mickey Kantor said Monday. The exact date will be set later.
Just two days after the U.S. threatened to impose “killer” import duties on Chinese imports valued at $1.08 billion — including $7 million in silk fashion accessories — the two sides agreed to resume talks that ended Jan. 28.
China’s Trade Minister, Wu Yi, issued the invitation to continue the talks on Sunday — hours after she announced that China would retaliate against the U.S. sanctions by banning a like amount of American imports, including perfumes, cosmetics and consumer electronic products.
The U.S. sanctions are to go into effect Feb. 26 if no accord is reached on U.S. demands that China protect intellectual property rights and crack down on illegal copying of items like movie videos and computer software.