US, China to hold 12th round of trade talks in Shanghai

Shanghai: The chief trade negotiators of the US and China are slated to meet for the 12th round of the high-level economic and trade consultations here from July 30 to July 31, according to the Chinese Ministry of Commerce.

The talks are aimed at implementing the consensus reached by the leaders of the two countries -- US President Donald Trump and his Chinese counterpart Xi Jinping -- on the sidelines of the G-20 Summit in Osaka late last month, Xinhua reported quoting the ministry's spokesperson Gao Feng.

"Since the establishment of diplomatic ties between the two countries 40 years ago, the two economies have become closely intertwined and highly integrated, benefiting the people of both countries and the world," he said.

This comes at a time when there are trade frictions between Washington and Beijing due to increase in trade tariffs.