China: Trade talks with the United States are back on

China: Trade talks with the United States are back on

A delegation of officials from China and the USA will meet later this month to discuss trade between the two countries as a round of additional tariffs from President TrumpDonald John TrumpGillibrand urges opposition to Kavanaugh: Fight for abortion rights "is now or never" Trump claims tariffs on foreign nations will rescue United States steel industry: report Bannon announces pro-Trump movie, operation team ahead of midterms: report MORE looms next week.

China will dispatch Vice Commerce Minister Wang Shouwen to the United States for trade talks in late August, the first official exchanges since earlier negotiations broke down two months ago.

A Chinese trade delegation will visit the U.S. this month to kick off a new round of talks, the first since negotiations broke down two months ago.

Trade talks will be held late August.

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U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading slightly lower on Thursday.

News of the upcoming talks helped Chinese stocks stem losses.

USA futures also gained, as Dow e-minis gained 0.45 per cent on the news. Worries about damage to the global economy from the dispute have hurt prices, which hit their lowest since June 2017 overnight.

Washington slapped 25% tariffs on $34bn of Chinese goods in early July, leading Beijing to respond with similar levies, and further tariffs on $16bn of Chinese goods are due to come into effect on 23 August. Donald Trump's administration is threatening further tariffs on $200bn of Chinese goods, in a bid to pressure United States companies to bring production back to the US. Separately, China has said it is prepared to put additional tariffs on 5,207 goods imported from the United States with a total value of $60 billion, ranging from liquefied natural gas to some aircraft. Soybeans and other grains from the United States were hit with extra import tariffs last month, bringing trade nearly to a halt, as part of the tit-for-tat dispute between the world's two largest economies.

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