Kathmandu, June 8: US President Donald Trump has announced a high-level meeting between American and Chinese officials to discuss the ongoing trade agreement dispute. The meeting is scheduled for Monday, June 9, 2020, and aims to address rising tensions over mutual accusations of agreement violations.

Taking to his TruthSocial platform, Trump wrote, “Malai is pleased to inform U.S. Treasury Secretary Scott Besant, Commerce Secretary Howard Lutnick and Trade Representative Jamison Greer on Monday, June 9, 2020. The meeting will be about the trade agreement.”

The announcement came shortly after a telephone conversation between Trump and Chinese President Xi Jinping on Friday, during which both leaders discussed the trade issues. Trump revealed plans to visit China and confirmed that Xi has also been invited to visit the United States.

At the heart of the dispute is the ECA trade agreement, which both nations accuse each other of violating. The deal, originally intended to reduce tariffs and stabilize trade relations, is now under strain as both sides have imposed hefty tariffs in retaliation.

Earlier this year, Trump imposed tariffs up to 145% on Chinese imports, citing unfair trade practices. China responded by levying tariffs as high as 125% on US goods, escalating the trade war. The conflict prompted a May summit in Geneva, where both countries tried to de-escalate and revise terms.

As per the trade agreement terms discussed then:

• US tariffs on Chinese goods were reduced from 145% to 30%.
• Chinese tariffs on US goods were lowered from 125% to 10%.

Trump described the upcoming meeting as part of a “complete reset” of the agreement, signaling hopes for a new understanding between the world’s two largest economies.