11 a.m. President Donald Trump is hinting that "important announcements" are coming regarding ongoing trade discussions between the U.S. and China. He didn't elaborate, but White House counselor Kellyanne Conway cited news reports that China appears to be moving toward reducing tariffs on cars made in the U.S. to 15 percent from 40 percent.
Trump agreed on Dec. 1 to postpone more U.S. tariff hikes on Chinese goods for 90 days while the two sides negotiate over American complaints about Beijing policies. Trump tweeted Tuesday that conversations between the world's largest economies have been "very productive."
China's government says its economic czar and the Treasury secretary have discussed plans for the next round of trade talks. Stock markets around the world jumped on news that the trade war may be easing.
China's foreign minister has vowed to defend its citizens abroad as a Chinese technology executive waits to see whether a Canadian court will release her on bail in a case that has strained U.S.-Chinese relations.
Foreign Minister Wang Yi said Tuesday that Beijing will "spare no effort" to protect against "any bullying that infringes the legitimate rights and interests of Chinese citizens."
Wang didn't mention the arrested Huawei Technologies Ltd. executive, Meng Wanzhou. But a ministry spokesman, Lu Kang, said Wang was referring to cases of all Chinese abroad, including Meng.
Meng was arrested Dec. 1 in Vancouver on U.S. charges related to possible violations of trade sanctions on Iran.
China's government says its economic czar and the U.S. Treasury secretary have discussed plans for the next round of talks in a tariff battle following a temporary cease-fire.
The Commerce Ministry's announcement Tuesday suggests negotiations are going ahead despite tension over the arrest of a Chinese technology executive.
A ministry statement said Vice Premier Liu He and Treasury Secretary Steven Mnuchin discussed "the promotion of the next economic and trade consultations" but gave no details.
President Donald Trump agreed on Dec. 1 to postpone more U.S. tariff hikes on Chinese goods for 90 days while the two sides negotiate over American complaints about Beijing technology policy.
The arrest in Canada last week of a Huawei Technologies Ltd. executive prompted worries those talks might be derailed.