China welcomes US trade talks offer as new tariffs loom

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China welcomed on Thursday a US offer to hold fresh trade talks, adding that the two are discussing the details and providing some hope the world’s top economies could step back from the brink of an all-out trade war.

The sides have been engaged in an escalating tit-for-tat trade fight for months but on Wednesday it emerged that US Treasury Secretary Steven Mnuchin had invited top Chinese officials to discuss the issue.

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