US, China to keep talking on trade after little progress in Shanghai

US Trade Representative Robert Lighthizer shakes hands with Chinese Vice Premier Liu He as US Treasury Secretary Steven Mnuchin and China's Commerce Minister Zhong Shan look on during a family photo at the Xijiao Conference Center in Shanghai, China, July 31, 2019.

The two governments have levied billions of dollars of tariffs on each other’s goods, disrupting global supply chains and roiling financial markets. The International Monetary Fund has warned that the trade dispute will shave 0.2% off global output. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin left China with little in hand save a pledge to keep talking, following a half-day meeting and a working dinner at Shanghai’s historic Fairmont Peace Hotel.

Senator Chuck Grassley, a Republican from Iowa, one of the biggest exporters of corn and soybeans among US states, and chairman of the Senate Finance Committee, said he was not surprised that China was not more forthcoming about its plans. Democratic Senator Charles Schumer on Wednesday raised concerns about a proposal that would allow 80% of Huawei products to continue being sold in the United States, and urged Trump to stick to tough sanctions on Huawei.

Chinese Foreign Ministry spokeswoman Hua Chunying told a news briefing that the United States is the one that continues to “flip-flop.”Trump hoped to leverage a downturn in the Chinese economy to force China into a deal.

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