The United States and China have agreed to restart semi-annual talks aimed at resolving economic disputes between the two countries, a process abandoned at the start of the Trump administration as a trade conflict between the countries escalated.
The talks are set to be announced next week and would be separate from second-phase trade negotiations. This latest vehicle for pushing reforms and resolving disputes will be spearheaded by Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He and will include other senior officials from both governments.
"The new CED is closer in concept to what was called the Strategic Economic Dialogue, started in the Bush administration by Hank Paulson.. The two sides would put out long lists of plans to make changes in economic policy—but had no way of enforcing them." https://t.co/mftxqdJX5D— Yacqub Ismail (@Yacqubismial) January 11, 2020
The Obama administration continued the dialogue but renamed it the Strategic and Economic Dialogue.— Eddie Du (@Edourdoo) January 11, 2020
Instead of focusing solely on economic issues, the S&ED looked at national security as well.
The unemployment rate is at its lowest since 1969, the USMCA is completed and close to heading to the President’s desk and the first phase of the China trade deal is complete. pic.twitter.com/enYy7cHJ8g— Marc Short (@marcshort45) January 10, 2020