President Donald Trump has urged China to offer more concessions as the two countries prepare for their first major meeting in more than two months to avoid a trade war.
The US has stated that to restart trade negotiations, China must offer a package of measures. The country needs to make an offer that slashes the bilateral trade surplus, lowers import tariffs, provides better protection for intellectual property and stops forced technology transfers, Parker said earlier this month.
The two nations had appeared to have reached a deal in May after Chinese Vice Premier Liu He—President Xi Jinping’s top economic adviser — led a group of officials to Washington. But Trump backed away from the agreement soon afterward, and ever since the two sides have been locked in a standoff as they slapped tariffs on billions of dollars of each other’s goods.
The U.S. plans to impose tariffs on $200 billion of Chinese goods, which China has vowed to retaliate against by levying duties on $60 billion of U.S. goods. The Trump administration already imposed duties on $34 billion of Chinese goods last month, a move that prompted immediate retaliation from Beijing.