United States and China launch trade talks amid differences over economic reforms

US and China launch trade talks amid differences over economic reforms

That dispute was put on hold for 90 days starting December 1 after U.S. President Donald Trump and Chinese President Xi Jinping met and agreed to halt additional tariffs as both sides ironed out their trade differences.

A Chinese delegation led by Vice Premier Liu He is in Washington this week for two days of talks, following on from the previous round of negotiations earlier this month.

If the two sides can not reach an agreement by 1 March, the United States has said it will increase the tariff rate from 10% to 25% on Chinese goods worth an estimated $200bn.

President Donald Trump seemed optimistic ahead of an Oval Office meeting with Chinese officials for tariff negotiations ahead of a March 1 deadline in a flurry of tweets Thursday.

"China's representatives and I are trying to do a complete deal, leaving nothing unresolved on the table", he wrote.

The United States and China launch a critical round of trade talks on Wednesday amid deep differences over USA demands for structural economic reforms from Beijing that will make it hard to reach a deal before a March 2 U.S. tariff hike.

Trump said on Twitter he was looking for China to open its markets "not only to Financial Services, which they are now doing, but also to our Manufacturing, Farmers and other US businesses and industries".

If a deal is not reached with Beijing by March 1, the president has said he'll slap another $200 billion in taxes on exports from China.




Washington has repeatedly accused Beijing of stealing trade secrets, forcing foreign companies to hand over technology as the price of access to the Chinese market, and subsidizing its own tech companies.

That is especially the case if the two leaders were to meet in China, as Chinese officials want. China has retaliated with tariffs of its own, but has suspended some and is allowing some purchases of US soybeans during the talks. And he has emerged as the United States strongman in the ongoing trade negotiations, determined to force changes in Beijing's economic policies.

According to the Wall Street Journal, China trade negotiators proposed a meeting between Xi and Trump in China next month, but the White House has not confirmed a potential summit.

The next round of US-China trade talks will resume Wednesday and Thursday in Washington to try to find a way out of the tariff battle between the two powers.

He sounded optimistic about the negotiations - and said the tariffs he slapped on China were helping the USA economy. The White House did not confirm the report or say when a meeting would take place.

The Chinese trade delegation began two days of negotiations with US counterparts Wednesday.

"For the trade talks this week, nothing significant is going to happen", Okun, a trade expert and a board member of the American Chamber of Commerce in Singapore, told CNBC's "Capital Connection" on Thursday.

Trump took a tough stance with China a year ago to end Beijing's decades-long protectionist and trade-distorting practices, by imposing tariffs and investment restrictions. This could maintain the threat of USA tariffs on Chinese goods for the long term.

Related news:

Hot News

isis-killer-beheading-video-story-top China urges USA to stop "unreasonable suppression" of Huawei
Feb 01, 2019 - 00:32
The statement said China would "determinedly" defend the "legitimate" rights and interests of Chinese companies overseas . One indictment suggests Meng may have been aware of the company's alleged violation of Iran sanctions.

isis-killer-beheading-video-story-top Kamala Harris begins presidential campaign
Jan 30, 2019 - 05:11
Harris invoked memories of her mother, Shyamala Gopalan, a biologist who immigrated to the US from Chennai. By the second day, she was losing her voice, but still posed for photos with anyone who wanted one.

isis-killer-beheading-video-story-top Bolton's notes raise questions on U.S. military plans amid Venezuela tensions
Jan 30, 2019 - 04:46
Secretary of State Michael Pompeo directed most of his agency's personnel to leave Venezuela, but the U.S. John Bolton states regime change in Venezuela is about the country's oil.

isis-killer-beheading-video-story-top Taliban talks: As hopes rise of a deal, what comes next?
Jan 30, 2019 - 04:27
President Ghani said last week that about 45,000 security force members had been killed since he took office in 2014. US officials accused the group's leaders of providing support to al-Qaida leader Osama bin Laden and his followers.

isis-killer-beheading-video-story-top Brexit: Brussels opens door for talks on backstop
Jan 30, 2019 - 04:11
Dr Fox said that MPs' backing for the Brady amendment would strengthen the Prime Minister's hand. And the European Union insists the legally binding withdrawal agreement can not be renegotiated.

isis-killer-beheading-video-story-top Tiger Woods closes out routine week with strong Sunday at Torrey Pines
Jan 30, 2019 - 02:58
I didn't quite make as many putts as I wanted to, but I felt like I was hitting the ball on my line, just not reading them right. Leader Rose ran in a series of mid-length putts, few better than a 20-footer from the fringe for eagle at the par-five ninth.

isis-killer-beheading-video-story-top DOJ charges Chinese tech giant Huawei, top executive with fraud
Jan 29, 2019 - 07:14
The U.S. said during its press conference it was "deeply grateful to the government of Canada" for following the rule of law. A jury in Seattle ruled that Huawei had misappropriated the robotic technology from T-Mobile's lab in Washington state.

isis-killer-beheading-video-story-top Illinois braces for brutal cold, schools, courts closing
Jan 29, 2019 - 06:56
Officials have issued a travel alert for north-central, northeastern and southeastern North Dakota due to snow and blowing snow. More than three dozen flights were canceled early Monday at Mitchell International Airport in Milwaukee County.

isis-killer-beheading-video-story-top NZ succumbs as India wins series
Jan 29, 2019 - 06:55
Taylor fell seven runs short of a century on 93 and Latham hit 51 but India took the remaining seven wickets for just 65 runs. India barely broke sweat in the chase with Rohit Sharma and Virat Kohli scoring half-centuries to drive their team home.

isis-killer-beheading-video-story-top Former Trump's Advisor to cooperate in Mueller's investigation
Jan 29, 2019 - 06:39
The indictment brings fresh attention to WikiLeaks , which has been antagonizing the US government for years. More importantly, said Nunes, the indictment does not accuse Stone of colluding with Russians.

isis-killer-beheading-video-story-top Tom Brady Says There's Zero Chance He'll Retire After the Super Bowl
Jan 29, 2019 - 05:57
Speaking with Variety during the Sundance Film Festival, Radcliffe put New England's Tom Brady on blast over the quarterback's polarizing accessory.

isis-killer-beheading-video-story-top Anthony Davis Rumors: New York Knicks "To Be Aggressive" In Trade Talks
Jan 29, 2019 - 05:54
But the Lakers will surely make an effort to get a deal done now, and other teams will put some interesting assets on the table. Davis, who is now out with a finger injury, is averaging a career-high 29.3 points and 13.3 rebounds this season.

isis-killer-beheading-video-story-top Australia recognises Venezuelan Opposition Leader Juan Guaido as interim president
Jan 28, 2019 - 10:42
The Australian Government has recognised Venezuela's Opposition Leader, Juan Guaido, as the country's legitimate leader. The former union leader cruised to victory after blocking the main opposition candidates from running.

isis-killer-beheading-video-story-top Mick Mulvaney says Donald Trump will secure border 'with or without Congress'
Jan 28, 2019 - 08:41
The White House declined to comment about the internal deliberations or the president's calls. Done more in first two years than any President!' Trump wrote on Twitter on Sunday evening.

isis-killer-beheading-video-story-top Trump declares State of the Union 'canceled'
Jan 28, 2019 - 08:28
North Carolina's House speaker, Tim Moore, invited Trump to deliver the speech in the North Carolina House chamber. But there is no precedent for a State of the Union invitation being rescinded.