USA and China resume negotiations on Monday and may extend tariff truce for three months, says agency

Donald Trump, president of the US, and Xi Jinping, president of China, in a photo of June 29, 2019 Reuters/Kevin Lamarque the main economic authorities of the United States and China will resume Stockholm negotiations on Monday (28) to try to resolve longtime economic disputes that are at the center of a trade war between the two largest economies in the world. The goal would be to extend the tariff truce for three months. The information is from the Reuters news agency. Negotiations will begin in Rosenbad, the Swedish Prime Minister’s office in the Stockholm Center, Reuters said. The national flags of China and the US were being raised in the building. China currently faces August 12 to reach a lasting tariff treaty with the government of President Donald Trump. The deadline was established after Beijing and Washington reached preliminary agreements in May and June, trying to end weeks of rare tariffs and rare lands minerals. Without an agreement, global supply chains may face a new turbulence, with US tariffs returning to three -digit levels, which would be equivalent to a bilateral commercial embargo. Stockholm negotiations occur shortly after Trump’s largest trade agreement with the European Union on Sunday, which provides a 15% tariff over most EU product exports to the US, including cars. Understand: The main points of the US and EU agreement is not expected to be a similar advance in the negotiations between the US and China, but analysts say there is probably another 90 -day extension of the tariff and export control in mid -May. Extension would avoid a new climb and facilitate the planning of a possible meeting between Trump and Chinese President Xi Jinping in late October or early November. A US Treasury spokesman declined to comment on a South China Morning Post report that quoted unidentified sources saying that both sides would avoid introducing new rates or other measures that could increase trade war for another 90 days. Trump’s government is ready to impose new sectoral tariffs within weeks that will affect China, including semiconductors, pharmacists and other products. “We are very close to an agreement with China. We really made a kind according to China, but let’s see how this will unfold,” Trump told reporters on Sunday before European Commission President Ursula Von Der Leyen, close the tariff agreement. The British newspaper Financial Times also reported on Monday that the US had suspended technology export restrictions to China to avoid interrupting commercial negotiations with Beijing and supporting Trump’s efforts to secure a meeting with Xi this year. The Department of Commerce Industry and Security Department, which supervises export controls, was instructed to avoid harsh measures against China, the newspaper said, citing current and old employees. Reuters could not immediately verify the matter. The White House and the department did not respond to Reuters’ comments requests outside business hours. Trump announces agreement with European Union and low rate to 15%

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