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.