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China Extends Trade Visit to U.S. After Making Deal on Currency

14:02PM Feb 22, 2019
US China Trade War

US and China square off in trade dispute( MGN )

(Bloomberg) -- A Chinese delegation led by Vice Premier Liu He will extend this week’s visit to Washington as trade talks with U.S. officials show signs of progress including an agreement on currency policy.

This week’s round of talks were supposed to end Friday, but Liu extended his stay by two days. U.S. President Donald Trump praised the Chinese envoy during a meeting in the White House and said he could meet his counterpart Xi Jinping in the “not-too-distant future.”

Speaking through an interpreter, Liu said a deal with the U.S. is very likely to happen. Trade Representative Robert Lighthizer, who is leading talks for the White House, said the two sides have made progress on structural issues related to the Chinese economy but still have major hurdles to overcome.

The two sides did agree on a currency provision, Treasury Secretary Steven Mnuchin said at the meeting, without elaborating. Bloomberg News reported this week that the U.S. was asking China to keep the value of the yuan stable to neutralize any effort to soften the blow of U.S. tariffs.

 

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