China and U.S. to Resume Low-Level Talks in Bid to Resolve Trade War

China will dispatch Vice Commerce Minister Wang Shouwen to the U.S. for low-level trade talks in late August, the first official exchanges since earlier negotiations broke down two months ago. The Chinese delegation led by Wang will meet with an American group led by David Malpass, under secretary for international affairs at the Department of the Treasury, at the invitation of the U.S., China’s Ministry of Commerce said in a statement on its website on Thursday. While the talks are at a relatively low level for now, the market reaction clearly shows that people and investors in Asia are hopeful for successful negotiations. Before the deal collapsed in May, China agreed to "significantly" increase purchases of U.S. goods and services, and that may provide a guide for the next round of discussions...MORE