President Donald Trump met with Chinese President Xi Jinping at the beginning of their bilateral meeting at the G20 Summit in Osaka, Japan, June 29, 2019.
Kevin Lemark | Reuters
Chinese officials are increasingly hesitant to continue a broad trade deal with the US at talks that begin this Thursday, people familiar with the matter said, Bloomberg News reported.
Vice Prime Minister Liu Wing, who will head the talks on China, told paramedics that his proposal to the US would not include commitments to reform Chinese industrial policy or state subsidies, Bloomberg reports. They are one of the main demands of the Trump administration in trade negotiations.
Trade and political talks between the US and China also approach as Trump faces an impeachment investigation in the House of Representatives after the president suggested in a phone call with the president of Ukraine that the country should investigate Joe Biden, a potential rival by 2020 , and his son Hunter. However, people close to the administration say the impeachment investigation did not affect trade talks with China.
Tensions also escalated in preparation for trade talks this week after reports emerged that Trump officials were weighing some restrictions on US investment in China. , including the possible blocking of all US financial investments in Chinese companies. However, White House trade policy director Peter Navarro denied the reports and called them "fake news."