May 15, 2019 - Economy

U.S. delegation could head to China for trade talks as early as next week

In this image, Steven stands behind a blurred-out President Trump in the White House.

President Trump and Treasury Secretary Steven Mnuchin. Photo: Alex Wong/Getty Images

The U.S. and China are negotiating specific dates, including as early as next week, for a delegation to travel to Beijing to revive trade negotiations, the Wall Street Journal reports.

Why it matters: President Trump also plans to meet with Chinese President Xi Jinping at the G20 summit next month, but senior administration officials told Axios this week that a trade deal with China isn't close and that the U.S. could be in for a long trade war. Market analysts at both Morgan Stanley and Bank of America-Merrill Lynch have predicted a prolonged trade war could lead to an outright global recession.

Go deeper: Where Trump's trade war has hit American workers the hardest

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