Chinese trade negotiator heads to US to resume talks - report

[USA China Tariff Conflict]

A senior Chinese trade official will come to Washington, DC, marking China's first negotiations in the U.S. capital in years and aiming to establish regular communication during the two nations' trade truce, according to a media report.

Li Chenggang, a top aide to Beijing's lead negotiator, He Lifeng, is set to meet with deputies of U.S. Trade Representative Jamieson Greer and officials at the Treasury Department later this week, the _Wall Street Journal_ reported, citing people familiar with the matter. He'll also meet with representatives of the U.S. business community.

In May, the U.S. and China agreed to significantly reduce tariffs [https://seekingalpha.com/news/4446216-trade-tensions-subside-as-us-and-china-agree-to-slash-tariffs-for-90-days]on each other's goods for 90 days, ending an escalation in tariff hikes that had essentially frozen trade between the world's two biggest economies. With the agreement, the U.S. reduced its tariffs on Chinese goods to 30% from 145%, China cut its tariffs on U.S. goods to 10% from 125%. In late July, the 90-day pause was extended for another 90 days.

In recent months, negotiators from both sides have met in Switzerland, London and Sweden to dial down tensions and reach a trade deal.

In the DC meeting, Li is expected to discuss soybean purchases, something that President Donald Trump has been pushing for, the _WSJ _said [https://www.wsj.com/world/china/top-chinese-trade-negotiator-set-to-head-to-u-s-as-talks-resume-b2c3f913?mod=hp_lista_pos2]. So far, China has not bought a single cargo from the U.S. soybean harvest that begins in September. He's also expected to push for the U.S. to remove the 20% tariffs linked to the fentanyl trade and to loosen restrictions on tech sales to China, the people said.

Earlier on Tuesday, Trump threatened to charge China "200% tariffs [https://seekingalpha.com/news/4489031-trump-warns-of-200-tariff-on-china-over-rare-earth-magnets] or something" if Beijing restricts exports of rare earth magnets to the U.S.

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