United States sets new March 2 date for China tariff rise amid talks

US trade delegation to travel to China next month: Report

Although Chinese and US officials have been in constant contact since the meeting between Trump and Xi in Argentina, China has not been clear on the specifics of what the USA has said it wants from them, according to two people in Beijing with knowledge of the talks.

Deputy U.S. Trade Representative Jeffrey Gerrish will lead the Trump administration's team, which will also include Treasury Under Secretary for International Affairs David Malpass, according to the people, who spoke on the condition of anonymity.

The meeting is among the evidence that the world's two largest economies are making progress in cooling trade tensions.

China's customs administration announced Friday it had approved U.S. rice imports, a move that comes during a 90-day tariff truce between the two countries which are engaged in a bruising trade war. President Donald Trump has agreed to put on hold a scheduled increase in tariffs on some $200 billion in annual imports from China while the negotiations take place. Visit MarketWatch.com for more information on this news.

As of December 27, imports of brown rice, polished rice and crushed rice from the United States are now permitted, as long as cargoes meet China's inspection standards and are registered with the U.S. Department of Agriculture. He is pushing the Asian nation to reduce trade barriers and stop alleged theft of intellectual property. It's also slashed import tariffs on more than 700 products and began buying US crude oil, liquefied natural gas and soybeans again.

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The two countries have been in close communication even during the holiday period, he said.

Gao Feng, spokesperson at the commerce ministry told reporters that they will continue consultations through intensive telephone calls at the moment and he also said that the negotiations have been the Christmas break in the United States.

In response to the United States effort, China started importing USA soybeans for the first time in six months.

China's flurry of policy announcements since the Argentina meeting between Trump and Xi happened despite Canada's arrest of a top Huawei Technologies executive at the U.S.'s request, and despite Xi delivering a defiant speech declaring China wouldn't be dictated to by anybody.

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