Why slowing economies could prod US and China to reach deal

US manufacturers say Trump tariffs will bring higher prices, not more jobs

Deputy US Trade Representative Jeffrey Gerrish will lead the Washington delegation and will discuss "implementing the important consensus" reached by Trump and Chinese President Xi Jinping at the sidelines of the G20 summit in Argentina previous year, China´s commerce ministry said. In theory, this should reduce China's trade surplus with the states.

In a separate statement on Friday, USTR said the delegation will also include Under Secretaries from the US Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the White House. -China trade war, investors in the USA markets are worrying about rising interest rates and a wobbly US real estate market. The trade war is now in a temporary truce, but should that change the economic fallout threatens to hobble global economic growth. For 2018, the Dow Jones Industrial Average - America's highest-profile stock market benchmark - fell almost 6 per cent, its worst performance since 2008. And the Shanghai composite stock index fell 25 percent previous year.

On top of concerns about collateral damage from the U.S. Fears are growing that the second-longest economic expansion in USA history could slide to a halt next year or in 2020.

What was hailed just a year ago as an era when the world's major economies would all grow together has evolved in a more volatile direction, with the United States juiced along by tax cuts and government spending while the rest of the world sputters.

Growth is expected by the government to have eased to around 6.5% in 2018, down from 6.9% in 2017.

Factory activity weakened across much of Europe and Asia in December as the U.S.

Auto sales in China plunged 16 per cent in November from a year earlier.

China's own stock market has fallen by about 25% in the a year ago as investor concerns grew about the impact of the trade war on China's economy.

Those familiar said other USA attendees include Mr Gil Kaplan, Undersecretary of Commerce for International Trade; Mr Ted McKinney, Undersecretary of Agriculture for Trade and Foreign Agricultural Affairs; and Ms Merry Lin, director for global and Asia economics at the National Security Council. Both countries chose to suspend imposition of new tariffs on each other for the next 90 days and implement consensus that were reached between both presidents during the G20 meeting earlier this month. Some U.S. demands would require structural reform that may be unpalatable for Chinese leaders. "However, these reasons can only take you so far..."

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