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Chamber encouraged about US/China talks

The U.S. Chamber of Commerce says there are encouraging signs ahead of U.S. China trade talks that resumed today in Washington.

Myron Brilliant, the Chamber’s executive vice president, says each side has taken modest steps to dial back some of the threats, “Postponing tariffs and making agricultural purchases. We saw some of the largest soybean purchases in the month of August in some time.”

Brilliant told reporters this morning that the U.S. can’t afford an escalation of the trade war increasing the changes of a recession, “And I am confident the U.S. administration understands the stakes here on that front.”

Brilliant says he’s confident both sides can get there. And whether they get a deal before the 2020 election remains to be seen, “First we need the confidence on both sides that we can get there. And that’s what this week’s about. That’s what Vice Premier Liu He and Ambassador Lighthizer and Secretary Mnuchin are working on. Trying to find a path towards the bigger deal.” Brilliant says the Chamber expects progress in talks this week.