U.S, China hold crucial talks to ease trade war

Delegates from the U.S and China on Monday began the crucial face-to-face negotiations here to ease a bitter trade war between the world's two largest economies amid growing concerns about China's slowing economy and its impact on American businesses.

The U.S and China have been locked in an escalating trade spat since early 2018, raising import tariffs on each other's goods.

Last year, U.S President Donald Trump imposed tariff hikes of up to 25 per cent on USD 250 billion of Chinese goods.

The move prompted China to increase tariffs on USD 110 billion of U.S goods.

Trump and Chinese President Xi Jinping agreed to halt any further tariff increases for 90 days beginning January 1.

Deputy U.S trade representative Jeffrey Gerrish is leading the U.S delegation at the two-day talks with Chinese vice-ministerial counterparts.

China is facing the daunting task of presenting a credible plan to meet Trump's demands to cut down the USD 375 billion trade deficit.