USTR, Treasury Secretary Headed to China for More Trade Talks
U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will hold trade talks in Shanghai that begin July 30. The White House said that the "discussions will cover a range of issues, including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, the trade deficit, and enforcement."
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Despite the breakdown in these talks in May, U.S. Chamber of Commerce CEO Thomas Donohue said during a press conference July 25 that he believes the talks can progress. "Both parties need it," he said. "They need to quiet the markets. They need it to move forward with their own economic growth." He said in China, almost 2 million jobs have been lost because of the trade war. "They're ready for a deal," he said. "I think there's enough pressure in both places to move in the right direction."