China confirms economy czar going to Washington for trade talks despite Trump's threat of new tariff hikes over Beijing's technology ambitions.
FILE - In this Wednesday, May 1, 2019, file photo, members of U.S. and China delegation led by Chinese Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer, stand for a group photo session after their meeting at the Diaoyutai State Guesthouse in Beijing.
The decision to have Vice Premier Liu He, Xi’s top economic adviser, take part in talks due to start Thursday might keep alive hopes the two biggest global economies could make peace as early as this week. The American side is led by Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.
Washington and Beijing have raised tariffs on billions of dollars of each other’s exports, disrupting trade in goods from soybeans to medical equipment. Estimates of lost potential sales so far range as high as $25 billion. The conflict is testing how far Beijing is willing to go in changing a state-led economic model it sees as the path to prosperity and global influence — and how much power Washington will have to enforce any agreement.
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