China and US, locked in a trade war due to the current Washington policies, have reportedly been trying to get back to the table to resolve this issue, various sources said.
CNBC cites Bloomberg as the source of the report, with the sources revealed to be people involved in the talks. The discussions will be sourced through Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, who has been reportedly talking with each other in private. Mnuchin, in an earlier report, said that China and the US had been talking, but it's not as revealing as it could and should be.
However, it's not as easy as it looks.
China is about to brace for a new set of tariffs from the US and it still remains to be seen how China will react to this. Talks have been on and off, but it remains stalled. This is due to both sides still not willing to make room for re-negotiations.
However, representatives from the Chinese and the US side are still engaged in talks. While no one wants to make room just yet, there is a willingness to continue talking to try and find a solution. It's one that is a long time coming, given that it has affected both sides for as long as it did already. The US has been branded as a protectionist; China, meanwhile, has felt the effects of the tariffs on its economy.
China has already accused the US of "extortion" and it has been pointed out that the problem has been chronic in nature. Both sides have already engaged in three rounds of talks; Liu even visited Washington in hopes of striking a deal and as a gesture of goodwill. However, only days after the meeting, President Trump was noted to have walked away from a deal.
Already, this dispute has affected people from different backgrounds in both countries. Real estate companies and various businesses have resorted to buying their own shares to shore up the market, while the US government is preparing a bail-out plan for farmers, the hardest hit in the trade dispute.
