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6/17, 3:00 AM (Source: TeleTrader)
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Ross doesn't expect trade deal with China at G20 summit

United States Commerce Secretary Wilbur Ross said he does not believe that US President Donald Trump and Chinese President Xi Jinping will settle their trade dispute if they meet at the G20 summit in Japan later this month, the Wall Street Journal reported.

"I think the most that will come out of the G-20 might be an agreement to actively resume talks," he said and added that the meeting could be used to set "new ground rules for discussion and some sort of schedule for when detailed technical talks might resume."

"Even real shooting wars end with negotiation, and this will ultimately end in negotiations. Whether that will be in 10 minutes, 10 weeks, 10 months or longer, it’s not possible to judge," Ross said and added that Beijing "precipitated the crisis" when the talks broke down last month over what Washington saw as backtracking on commitments. The US then increased tariffs on Chinese imports and blacklisted Chinese tech giant Huawei. "They’re the ones that will have to end it by letting us know we’ll go back to where we were," he concluded.

Breaking the News / KP