China Says U.S. Trade Talks to Continue With September Meeting

• Chinese and U.S. negotiators concluded a round of ‘cordial’ trade talks, but there was little immediate evidence of progress being made toward ending their year-long dispute.
• The talks, which began with U.S.  Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin sitting down to dinner with Chinese counterparts on Tuesday, were the first in months.
• Presumably, it was all politeness when the teams were face-to-face, despite U.S. President Donald Trump throwing barbs at the Asian nation on Twitter from the outset.
• The People’s Daily, the mouthpiece of the Communist Party, responded to Trump on Wednesday with a commentary saying that China has no motive to “rip off” the U.S. and has never done so, and China won’t make concessions against its principles on trade.
• China and the U.S. plan to meet again in September to extend trade talks, as the latest round of negotiations in Shanghai ended with signs the sides discussed Chinese purchases of American farm products -- a key demand of President Donald Trump.

(Source: Bloomberg)