Trump says US-China trade talks 'going well'


"China's top trade negotiators are in the USA meeting with our representatives".

US President Donald Trump tweeted Thursday that trade talks with Chinese representatives in Washington were going well but wrote no final deal will be signed until he meets with Chinese President Xi Jinping.

The Trump administration has imposed punitive tariffs on $250 billion worth of Chinese imports to compel Beijing to change its trading practices, prompting Beijing to retaliate with its own tariff increases on $110 billion of US exports. If confirmed that would be right around the time Trump is slated to meet North Korean leader Kim Jong-un for nuclear talks.

A 90-day truce in the trade war was declared in December and is set to expire in a month, after which United States tariffs on $200 billion (€174 billion) of Chinese imports would more than double, something that economists say could have a negative impact on the world economy.

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

The talks proceeded to a second day despite an unexpected event Wednesday. President Trump has threatened to increase and expand those tariffs, but he agreed to hold off until early March, while negotiators try to hammer out a deal. "They are correct", Trump said.

In four early-morning tweets, the president said he plans to meet with Xi in the "near future to discuss and agree on some of the long standing and more hard points".

"Looking for China to open their Markets not only to Financial Services, which they are now doing, but also to our Manufacturing, Farmers and other US businesses and industries".

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"We hear rumblings or rumors there are some offers (by the Chinese delegation to Washington) around IP (intellectual property) enforcement, around the other sensitive issues".

With White House advisors reportedly divided, the focus is on Mr Trump, who is scheduled to meet with Mr Liu in Washington this week as part of the talks.

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.

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.

They're coming to the White House for a meeting with Trump on Thursday afternoon. "The US has a great interest in enormously increasing American exports to China".

US Treasury Secretary Steve Mnuchin told the South China Morning Post on Wednesday that both sides had "had a good discussion".

Trade experts say China has begun to crack down on intellectual property theft as well as the forced transfer of technology. "The talks will continue and you can not expect to solve all the issues at once", said Liu Weidong, expert in United States affairs at the Chinese Academy of Social Sciences.

Last year, U.S. sanctions on another Chinese telecoms company, ZTE, sent waves through the trade negotiations, which produced no breakthrough.