Vice Minister to meet with US Treasury UnderSecretary Malpass.
China's Commerce Ministry said Thursday that a vice minister will travel to the U.S.at an unspecified date, at the invitation of the Treasury Department, to discuss trade issues.
China's commerce ministry reiteratedthat Beijing opposed trade protectionism and would not accept any unilateral trade restrictions.
"China welcomes dialogue and communication on the basis of reciprocity, equality and integrity".
The Trump administration slapped duties on $34 billion of Chinese goods last month, a move that also prompted immediate retaliation from China.
The last official round of talks was in early June when the USA commerce secretary, Wilbur Ross, met Liu He in Beijing.
After negotiations in Washington in May, Beijing believed it had assurances from the USA that tariffs were off the table, with Mnuchin saying the trade war and tariffs were "on hold".
The meeting would end what had been a lull in talks between the two sides, but it is unclear whether it will take place before or after August 23, when Washington is due to activate additional tariffs on $16 billion of Chinese goods. Donald Trump's administration is threatening further tariffs on $200bn of Chinese goods, in a bid to pressure U.S. companies to bring production back to the US. Another $16 billion in levies will be effective later in August.
"It is hard to tell how the talks will go but it's a positive signal that the two countries are looking for some compromise plan", said Makoto Sengoku, market analyst at Tokai Tokyo Research Institute. A senior USA government official confirmed the talks and said: "We expect to discuss steps to achieve a more balanced trading relationship". China responded with similar penalties on American imports.
Previous rounds of talks between the two sides failed to make much progress, resulting in the outbreak of a trade war. But Trump backed away from the agreement and the two nations have been locked in a tit-for-tat trade war ever since.
China does not import enough from the United States to match Washington dollar-for-dollar, but it has warned that it could fire back with other measures.