China Trade Talks Kick-Off

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Trade talks between the United States and China have been characterized by "good intent and spirit on both sides", President Donald Trump said on Thursday.

The White House did not immediately comment on the report.

His goal in the talks is to force the Asian giant to put an end to trade policies the U.S. deems "unfair", especially the theft or forced transfer of American technology, obliging USA firms to form joint ventures with local partners, and state subsidies for industry. This could maintain the threat of U.S. tariffs on Chinese goods long term.

"At the end of the week we'll probably get some fairly bland statements suggesting that talks made progress, " David Dollar, a former U.S. Treasury representative in China now at the Brookings Institution, told a conference on Tuesday. That gap means the importing a lot more goods from China than we export to the country.

"Meetings are going well with good intent and spirit on both sides", Trump wrote.

In a sign the sides are hopeful of making progress, the Harvard-trained Liu is due to meet Trump during this week's talks.

"I don't think there's going to be any big outcome", Ennis said of the talks scheduled for Wednesday and Thursday. In addition to US demands for structural reforms in China's economic policy and key concessions on issues such as intellectual property, the latest round of talks will cover Beijing's pledge to buy more American goods.

USA officials insist that the Huawei case is entirely separate from the trade negotiations.

Washington also doesn't like that Beijing subsidizes its tech industry as part of its "Belt and Road" initiative to become the world's leader in critical sectors, such as artificial intelligence and robotics.

Prior to being named US Trade Representative in May 2017, Lighthizer was a specialist in worldwide trade law for more than 30 years and is a veteran of trade negotiations with Japan in the 1980s.

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Chinese trade negotiators proposed a meeting between Trump and Xi in China next month, the Wall Street Journal reported. Tariffs on China increase to 25% on March 1st, so all working hard to complete by that date!

"The concern is a longer drawn-out set of negotiations, which could result in sapping business".

"Uncertainty is not the friend of business", Powell said.

The president seemed optimistic the two-day meeting would help de-escalate the trade dispute between the two countries.

Specifically, US officials are attacking Chinese trade practices they say are unfair, spotlighting the forced transfer of American technology through requirements that foreign companies form joint ventures with local firms, as well as the alleged theft of American intellectual property through hacking.

US officials have expressed frustration over an internal split between those like Mnuchin who favor making a deal with China and others who advocate a tougher approach, including Lighthizer, which combined with Trump's unpredictability has created a chaotic policy-making process, according to people familiar with the deliberations.

The US's unveiling this week of criminal charges against Chinese corporate giant Huawei Technologies Co. isn't helping the mood.

In a sign that Beijing is serious about addressing United States complaints, Chinese lawmakers this week completed a second review of a new law that is aimed at protecting the IP of foreign investors and banning forced technology transfers.

Last year, the Asian country recorded its slowest growth in almost 30 years, making the USA trade war an unwelcome development.