China\, U.S. trade teams to hold talks

Officials from the U.S. and China are set to start a new round of trade talks.

That's according to China's country's Commerce Ministry on Thursday (June 20) who said the trade talks are coming off the back of instructions from the leadership of both countries.

The official China Daily also saying Thursday both sides were quote "in the mood for serious dialogue" to resolve their fiery trade dispute.

The report coming right before Donald Trump and Chinese President Xi Jinping are set to meet at next week's G20 summit.

Reuters Brenda Goh in Shanghai reports.

(SOUNDBITE) (English) REUTERS SHANGHAI CHIEF CORRESPONDENT, BRENDA GOH, SAYING: "The China Daily said that this meeting between U.S. President Donald Trump and Chinese President Xi Jinping should not be seen as a meeting that would probably solve the differences they have between the trade war but would probably be the start of a new phase in negotiations." The U.S. wants China to change policies which force American firms doing business in the country to share their technology.

It's also complained about unfair treatment for U.S. companies and theft of intellectual property.

The dispute has seen both sides slap round after round of tariffs on each other's imports.

Last month, the two sides seemed close to reaching a deal.

Then talks broke down - U.S. officials accusing China of backing away from its commitments.

Washington is hoping the Trump-Xi meeting on the sidelines of the G20 in Osaka, Japan will help jumpstart formal negotiations.

China, though, seems to be playing a waiting game.

(SOUNDBITE) (English) REUTERS SHANGHAI CHIEF CORRESPONDENT, BRENDA GOH, SAYING: "The Global Times and other Chinese media as well have reinforced that China will take the long game in this.

It believes it has the stamina to hold out for what it wants in this trade war and that it will not bend to the demands of the U.S. in this conflict." Meanwhile, no end in sight for the trade war.

Trump is threatening to slap another round of tariffs on $325 billion dollars of goods like cellphones, computers and clothes - nearly all remaining Chinese imports into the United States.