Washington and Beijing are readying for a high-stakes week of talks which will culminate in a meeting between their respective leaders.
The US Treasury secretary and China’s top trade negotiator are set to face off in Malaysia this weekend for the fifth time since the world’s two biggest economies engaged in a back-and-forth that saw duties on each other’s goods briefly top 100%.
They hope to set a framework that US President Donald Trump and Chinese leader Xi Jinping can finalize when they meet next week. “With the recent cooling of rhetoric… we are leaning toward a positive outcome that at least extends, if not builds on, the uneasy trade truce of the past few months,” ING economists said.
