OREANDA-NEWS. The US delegation plans to visit Beijing next week to resume trade negotiations between the two countries. This was reported on Friday by the Chinese newspaper. According to the sources of the publication, the success of the consultations will largely depend on whether Washington will fulfill the promise of partial suspension of sanctions against the Chinese company Huawei in the near future. If Beijing sees the first practical steps in this direction, in response, it will begin to increase purchases of agricultural products in the US, including soybeans.

The decision to resume trade negotiations was reached at a meeting of US President Donald Trump and Chinese President Xi Jinping at the G20 summit in Osaka, which was held June 28-29. The American leader promised not to introduce new tariffs for Chinese goods worth $ 300 billion, and also to relax restrictions on Huawei’s activities. In response, the Chinese side expressed its willingness to increase the volume of purchases of American agricultural products.

However, Beijing, before going for it, wants to see how Washington will begin to fulfill Trump’s promise with respect to Huawei, the newspaper’s source in the American authorities explained. According to the source, if the parties fail to come to a compromise on these issues, the negotiations will be considered failed, and Washington will then begin to impose tariffs on Chinese goods.

China and the United States for several months conducted negotiations on the settlement of trade disputes. The last (11th) round of such consultations was held in the first half of May in the US capital, but after that they reached an impasse. On May 10, Washington introduced additional duties on Chinese products worth $ 200 billion, raising the rate from 10% to 25%. In early June, the PRC government introduced retaliatory measures against more than 5,000 US commodity items worth $ 60 billion.