US-China trade talks between senior representatives are expected to resume as soon as next week, according to White House Chief Economic Adviser Larry Kudlow. A phone call between principal-level officials of both sides will be scheduled in the coming days.
However, Kudlow remains uncertain on when teams from both sides would resume in-person rounds of discussions. Traders and investors await resolution of the trade dispute between the two world leaders in the hopes that it would improve the market sentiment.
After talks broke down in May, both countries have Imposed more and more tariffs on each other’s products. For now, Trump has put off the next round of tariffs he had threatened on over $300 billion of Chinese products.
According to Kudlow, “We’ve been accommodative. We will not lift tariffs during the talks. We are hoping that China will toe its end of it by purchasing a good many of American imports.”