Upcoming US-China trade talk to focus on intellectual property rights

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The world's two largest economies are trying to hammer out a deal before a March 1 deadline, after which United States tariffs on US$200 billion (S$271 billion) worth of Chinese imports are scheduled to increase to 25 per cent from 10 per cent.

Mnuchin appeared at a Beijing hotel a couple of days ahead of scheduled high-level meetings with Chinese officials in the capital, with a March 1 deadline looming to strike an accord.

US tariffs on $200 billion worth of imports from China are scheduled to rise to 25 percent from 10 percent if the two sides can not reach a deal by the deadline, increasing pain and costs in sectors from consumer electronics to agriculture. And so far, I've said don't do that.

The latest leg of trade talk held next to White House between Chinese Vice Premier Liu He and US Treasury's Mnuchin and other US officials, had not been as productive as it was expected to be and the global markets paid a hefty price following the trade talk that ended last week.




A new round of trade talks between the USA and China begins in Beijing this week, with both sides hoping to reach a trade deal by the end of this month.

USA negotiators will likely continue to urge China to make structural reforms and end what the US claims to be unfair trade practices. "I could see myself letting that slide for a little while", Trump said at the White House. However, amid pressure from the business community for the two sides to resolve the dispute, CNBC cited a senior administration official saying the March 1 deadline could be pushed back. "And, absolutely, you know, we've put everything on the table, including IP theft and forced technology transfer and so on".

Mnuchin will be joined by US Trade Representative Robert Lighthizer as well as David Malpass, President Donald Trump's nominee to lead the World Bank, in negotiations set for Thursday and Friday.

Talks kicked off in Beijing with discussions among deputy-level officials on Monday before minister-level meetings later in the week. However, strident White House China critic Peter Navarro was not listed as part of the U.S. team.

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