FX.co ★ Chinese officials to visit Washington early in administration of Joe Biden

China is planning to send to the US its high-ranking people to settle important economic issues. The Chinese authorities have made such a decision amid hopes that President-elect Joe Biden will be open to new talks.

The US-China relations entered a deadlock during the presidency of Donald Trump. The US aggressive policy led to a full-scale trade war between the countries. However, at the moment, the two largest economies in the world have all chances to reestablish their relations.

“There are some challenges that we have to overcome in the relationship, and it’s not going to be a straight line. It’s going to be a bumpy road ahead,” Myron Brilliant, head of international affairs for the business group, said. He also added that “such a visit could help lay the groundwork for improved US-China relations and progress toward an expanded trade agreement.”

Earlier, US President Donald Trump and Chinese Vice Premier Liu He signed the phase one trade agreement. According to the document, China has agreed to purchase $76.7 billion worth of US goods in the first year with $123.3 billion slated for the second year. Donald Trump supposes that this deal will allow the US to reduce its large deficit in a bilateral trade turnover with China.