What Happened: U.S. Trade Representative Robert Lighthizer said that he and Treasury Secretary Steven Mnuchin expect to hold two rounds of trade negotiations with Chinese Vice Premier Liu He before the countries' presidents meet at the Group of 20 summit on June 28-29, Reuters reported June 19.
Why It Matters: The high-level discussions would likely set the stage for the face-to-face meeting between U.S. President Donald Trump and Chinese President Xi Jinping on the sidelines of the G-20.
Background: On June 18, Trump announced that he and Xi had a "very good" phone call and will have an "extended meeting" at this year's G-20 summit in Japan. Xi confirmed the sit-down shortly thereafter, breaking a monthlong stalemate between the trade adversaries since the breakdown of negotiations in early May. The resumption of trade talks has raised the potential for a truce amid the countries' escalating trade tensions, perhaps forestalling a U.S. tariff hike on an additional $300 billion worth of Chinese imports.