The U.S. and China resume trade talks in Shanghai
today,… the first face-to-face meeting between the countries’ top trade officials since May. But expectations for notable progress during
the Shanghai meeting are low… as White House economic advisor Larry Kudlow said last Friday
he doesn’t forecast “any grand deal” at this time. Washington is demanding greater protection
of intellectual property rights and a more balanced trade relationship,… while Beijing
wants the U.S. to remove its extra tariffs on Chinese exports. U.S. Treasury Secretary Steven Mnuchin and
Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He are leading the
negotiations that are scheduled to run through Wednesday.