With presidents Trump and Xi set to meet later this week at the G20 summit in Japan, the U.S. could delay imposing more tariffs on some 300 billion US dollars worth of Chinese imports in an effort to restart trade negotiations.
Citing anonymous sources familiar with Washington's plan, Bloomberg reported that the move is still being deliberated, but could be announced after presidents Trump and Xi sit down for a face-to-face on the sidelines of the G20 summit.
The report also says, U.S. Trade Representative Robert Lighthizer and his Chinese counterpart, Vice Premier Liu He, discussed an outline of the Trump-Xi meeting in a phone call earlier this week.
Sources familiar with the conversation described the exchange as 'productive', the report added.
But a senior U.S. official was also quoted as saying that no detailed trade agreement is expected from the two leaders' meeting.
Instead, it could be the goal of the Trump administration to build a more solid foundation for an eventual trade deal after previous negotiations failed to produce tangible results.
Meanwhile, the U.S. has concluded government hearings on the proposed extra tariffs on Chinese goods on Tuesday local time.
This comes after a week-long series of testimonies by hundreds of companies asking for reprieve from the fallout of the trade war between Washington and Beijing.
According to the South China Morning Post, more than 300 representatives from different industries stressed that Trump's tariffs were costing American jobs, raising U.S. consumer prices and posing a national security threat in some cases.
Back when high-level trade talks in May ended without an agreement, Washington hiked its tariffs from 10 percent to 25 percent on 200 billion dollars of Chinese imports to the U.S.
In retaliation, Beijing imposed its own 25 percent tariffs on 60 billion dollars of American goods going the other way.
Kan Hyeong-woo, Arirang News