US Delegates to Travel to Beijing in January

• US Delegates to Travel to Beijing in January

Delegates from the U.S. will be meeting with Chinese officials in early January to discuss the trade deficit between the two biggest economies, Bloomberg reported.

Jeffrey Gerrish, Deputy U.S. Trade Representative is expected to lead the delegates, which will also include David Malpass, Treasury Under Secretary for International Affairs.

The meeting will be the first face-to-face discussion since the two agreed to 90 days truce during the G20 meeting in Argentina earlier this month.

The meeting if goes well will add to signs that the two largest economies are making progress in resolving trade tensions and aid global growth.

On Tuesday, Beijing fulfills one of the demands of President Trump by lowering tariffs on more than 700 goods to better open up the world’s second-largest economy and reduce costs for domestic consumers.

The report bolstered market outlook as U.S. stocks gained, with the S&P 500 Index rising about 4.96 percent after almost falling into a bear market. Crude oil rebounded from almost 2 year-low, while Asian stocks opened higher on Thursday.

President Trump agreed to hold off on a scheduled additional increase in tariffs on some $200 billion in annual imports from China pending negotiation outcome.