U.S. and Chinese negotiators resume talks to resolve trade dispute: official

U.S. and Chinese trade officials held a "constructive" phone conversation on Tuesday, White House economic adviser Larry Kudlow said, marking a new round of talks after the world's two largest economies agreed to a truce in a year-long trade war.

The United States and China agreed during a Group of 20 nations summit in Japan last month to resume discussions, easing fears of an escalation. After meeting with Chinese President Xi Jinping at the G20, U.S. President Donald Trump agreed to suspend a new round of tariffs on $300 billion worth of imported Chinese consumer goods while the two sides resumed negotiations.

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke with Chinese Vice Premier Liu He and Commerce Minister Zhong Shan on Tuesday in a further effort to resolve outstanding trade disputes between the countries, a U.S. official said earlier in an emailed statement.

Kudlow said the talks "went well" and were constructive. "There are no miracles here, - he told reporters at the White House. - There was headway last winter and spring, then it stopped. Hopefully, we can pick up where we left off, but I don't know that yet."

China's Commerce Ministry said in a short statement that the two sides had "exchanged views on implementing the consensus of the two countries' leaders at the Osaka meeting."

Trump said in Osaka that China would restart large purchases of U.S. agricultural commodities, and the United States would ease some export restrictions on Chinese telecom equipment giant Huawei Technologies.