0733 GMT July 23, 2019
The impasse threatens to undermine a meeting between US Presidents Donald Trump and President of the People's Republic of China Xi Jinping scheduled for the end of November at the Group of 20 leaders summit in Buenos Aires, marketwatch.com reported.
Both sides had hoped the gathering would ease the trade tensions. US businesses have been counting on sufficient progress at the meeting for the Trump administration to suspend its plan to increase tariffs on $200 billion of Chinese imports to 25 percent on Jan. 1, from the current 10 percent. Such a move would be a blow to US importers and consumers.
Negotiations have been on hold since mid-September, when the Chinese canceled a trip to Washington after the US announced levies on the $200 billion of Chinese imports. Since then, Beijing has sought to re-engage, including asking US Treasury Undersecretary David Malpass to resume talks. He declined — with the backing of the White House trade team — until the Chinese present a formal offer, US officials said.
“If China wants [the G-20 session] to be a meaningful meeting, we need to do the groundwork,” a senior White House official said.
“And if they don’t give us any information, it’s just hard to see how that becomes fruitful.”