BEIJING (Reuters) - U.S. Commerce Secretary Wilbur Ross will meet Chinese Vice Premier Liu He on Sunday, as officials from the world’s two largest economies try to calm an escalating trade dispute that has rattled financial markets.
Ross arrived in Beijing on Saturday for trade talks after the Trump administration renewed tariff threats against China, and with key U.S. allies in a foul mood toward Washington after they were hit with duties on steel and aluminum.
Ross has not made any comments to the media since arriving.
Liu, a Harvard-trained economist who is a trusted confidant of Chinese President Xi Jinping, is China’s chief negotiator in the trade dispute. Ross met Liu for dinner on Saturday and the two were due to meet again on Sunday, a U.S. official said.
Washington and Beijing have threatened tit-for-tat tariffs on goods worth up to $150 billion each.
But just when it appeared a trade truce between the two economic heavyweights was on the cards, the White House last week warned it would pursue tariffs on $50 billion worth of Chinese imports, as well as impose restrictions on Chinese investments in the United States and tighter export controls.
