The video conference between U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He that had been reported as being set for August 15 did not take place.
Some reports chalk up the situation to an effort to let China continue to make their purchases of U.S. farm and other goods while other reports indicated it was nothing more than a scheduling issue. However, the session had never been formally confirmed by either government.
Trade sources have noted that there have been repeated contracts between the U.S. and China throughout the process since the deal was implemented back in February.
Reuters reported that China's state-owned oil firms had tentatively booked tankers for at least 20 million barrels of U.S. crude for August and September and said that trade contacts indicated that PetroChina and Sinopec had stepped up their purchases.
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