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China, US to resume talks to resolve ongoing trade dispute

Chinese Vice Commerce Minister Wang Shouwen speaks to reporters in Beijing, on June 28, 2018. (Kyodo)

BEIJING (Kyodo) -- The Chinese Commerce Ministry said Thursday that China will resume talks with the United States in an attempt to resolve their ongoing trade dispute.

The delegation led by Vice Commerce Minister Wang Shouwen is scheduled to visit the United States late this month to have discussions with U.S. representatives, the ministry said.

Washington and Beijing had shown little indication they are trying to find a middle ground, sparking fears that their full-fledged trade war will stifle the recovering global economy.

But during their meeting in Singapore on Aug. 3, Chinese Foreign Minister Wang Yi and U.S. Secretary of State Mike Pompeo shared the view that talks are vital in the effort to find a resolution in the trade row between the world's two largest economies, according to Chinese state media.

Earlier this year, Chinese economic officials held negotiations with the United States to avoid an all-out trade war, but the efforts ended in failure.

As well as higher tariffs on steel and aluminum, Washington has slapped additional 25 percent duties on $34 billion of Chinese imports -- the first round of the tariffs worth $50 billion -- for Beijing's alleged intellectual property and technology theft.

The United States also plans to impose additional 25 percent duties on another $16 billion in Chinese imports starting next Thursday. Beijing has decided to implement reciprocal measures against Washington.

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