US, China Launch High-Level Trade Talks Amid Deep Differences

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President Trump is meeting with China's top trade negotiator at the White House Thursday afternoon, with the March 1 deadline for a firm trade deal quickly approaching.

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

President Donald Trump is voicing optimism before he meets with representatives from China for trade talks Thursday.

"Our sense from our discussions last week in China is that China is struggling to come up with anything on the technology transfer side, and from our standpoint that's problematic", Myron Brilliant, the chamber's head of worldwide affairs, said. He said China wants a deal to prevent tariffs on $200 billion worth of Chinese imports from jumping from 10 per cent to 25 per cent on March 2.

Trump stated in a tweet that he wanted Beijing open the Chinese markets not only to financial services but also to "Manufacturing, Farmers and other United States businesses and industries". Officials also met Tuesday to hammer out preparatory work for the negotiations, but there was no report of progress on structural issues, people familiar with the talks said.

He has advised Trump since his upstart presidential campaign, after he gained Trump's attention with his 2011 book "Death by China" painting the country as a serial trade cheater, subsidizing export-oriented industries and manipulating its currency.

The talks began two days after the United States charged Chinese telecommunications company Huawei Technologies Co Ltd and its chief financial officer, Meng Wanzhou, with conspiring to violate US sanctions on Iran by doing business through a subsidiary it tried to hide.

China retaliated with tariffs of its own on USA goods that Trump responded to with more penalties that he promised to double if the two nations can not reach a formal agreement.

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The United States has accused China of hiding some trade-distorting subsidy programs from global scrutiny while disclosing others it does not need to, according to a document circulated on Wednesday at the World Trade Organization. Liu is expected to meet Trump on Thursday, US time.

A Chinese delegation is in Washington this week to discuss the broad strokes of an agreement to end the trade war the two countries have fighting for almost a year.

He pushed Trump to renegotiate NAFTA and vigorously defended the punitive tariffs imposed on United States imports of steel and aluminum, a protectionist measure that prompted the departure of Trump's former chief economic adviser, Gary Cohn, who was more pragmatic than dogmatic and highly respected by financial markets. As part of the standoff between the world's two biggest economies, Washington imposed tariffs on $250 billion in Chinese imports.

Chinese officials have said their policies do not coerce technology transfers.

Another longstanding concern with Chinese laws is the breadth and scope of the national security review, the US Chamber of Commerce, AmCham China and AmCham Shanghai said in comments submitted on the bill.

Robert Lighthizer and Secretary of the Treasury Steven Mnuchin attended this high-level economic and trade consultations.

"The scope of these talks will be the broadest and deepest in U.S". This could maintain the threat of USA tariffs on Chinese goods for the long term.

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