US Opens Trade Talks With China

US and China commence two days of trade talks

The United States and China opened a pivotal round of high-level talks on Wednesday aimed at digging out from their months-long trade war amid deep differences over Chinese practices on intellectual property and technology transfer. If both sides fail to reach an agreement by March 1, US tariffs on Chinese goods will be raised to 25 percent from 10 percent.

US and Chinese diplomats are scheduled Thursday to conclude two days of talks aimed at a deal to avert an increase in USA tariffs on $200 billion in imports from China by a March 2 deadline.

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

He says: "All of the many problems are being discussed and will be hopefully resolved".

Trump has set a March 1 deadline for increasing tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent.

Trump said any deal must include China opening its market to US financial institutions, manufacturing and agriculture as well as other unspecified "businesses and industries".

"I'd like to accommodate China if we can get the deal done", Trump said.

China is fighting a major trade dispute at the WTO against USA and European Union claims that China is not a "market economy" and therefore that its export prices should not be taken at face value when evaluating whether it is trading fairly.

He is expected to meet with the Chinese delegation later Thursday. Beijing, in response, retaliated with tariffs against US products. And he has emerged as the USA strongman in the ongoing trade negotiations, determined to force changes in Beijing's economic policies.

WASHINGTON-High-stakes trade talks between the United States and China started January 30 in Washington in a bid to resolve differences and reach an agreement before the March deadline.

Indeed, U.S. heavy equipment maker Caterpillar reported Monday that its China sales were slowing - news that sent its stock price tumbling. They're coming to the White House for a meeting with Trump on Thursday afternoon.

US officials and some analysts say they believe its weakening economy will pressure the Chinese into making concessions.

But the Chinese side, led by Vice Premier Liu He, would likely have to bring to the table a new offer that goes significantly beyond its previous offers to significantly increase purchases of USA goods, including soybeans, energy and manufactured goods.

Chinese officials deny that their policies coerce technology transfers.

On Wednesday, US intelligence officials told Congress that China is the biggest commercial and military threat to the United States.

The U.S. document was sent to the WTO's subsidies committee in response to a notification by China about subsidies programs it is obliged to disclose for transparency purposes. The US team will be headed by Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, who have offered contrasting interpretations of the progress made so far.

The U.S. tariffs on Chinese goods are just one front in Trump's efforts to upend the global trading order with his "America First" strategy.

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