A Bloomberg report says that American and Chinese officials have both indicated a willingness to find a negotiated solution to their trade differences.
Top government officials are expected to hold talks before American tariffs on Chinese imports will take effect. White House Trade Adviser Peter Navarro tells CNBC that Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer will lead the talks. White House officials have indicated previously that they were willing to negotiate with China, but the Bloomberg report says this is the first indication that talks would take place at the highest levels of government. Navarro says discussions will focus on getting to someplace “where China stops doing what it’s doing in terms of aggressive attacks on our economy.” He didn’t provide more specific details to CNBC about the timing or locations for future talks between the two countries.
Larry Kudlow, head of the White House National Economic Council, says America is trying to rally pro-market countries to push back against China’s unfair trade practices. Kudlow says the administration will have more to say about its effort to recruit other major economies to support the U.S. position.