Leaders of both US and China trade teams held “constructive” telephone conversations yesterday, as negotiations continued. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin joined the talks. On the Chinese side, there were Vice Premier Liu He and Minister of Commerce Zhong Shan. The call was also confirmed by Chinese Commerce Minister in a brief statement today.
White House economic adviser Larry Kudlow said the talks “went well” and were constructive, but “there are no miracles here”. He added, “there was headway last winter and spring, then it stopped. Hopefully we can pick up where we left off, but I don’t know that yet.”
Kudlow also said yesterday that “President Xi is expected, we hope in return for our accommodations, to move immediately, quickly, while the talks are going on, on the agriculture (purchases).” However, it’s also reported by Hong Kong South China Morning Post that Xi had made no specific commitment regarding the purchases during the meeting with Trump at G20 in Osaka. So far, no significant increase in purchase is noted yet.