China Trade Talks in DC to Focus on 'Rebalancing' Relationship

China Trade Talks in DC to Focus on 'Rebalancing' Relationship

Trump administration trade advisor Peter Navarro will reportedly not be taking part in discussions with top Chinese economic advisor Liu He on Thursday, in another sign that momentum is building for the USA and China to strike a deal and avert a costly tariff battle.

Peter Navarro, the White House trade and manufacturing adviser, will not be a principal player on the US side, two officials said.

Mnuchin will lead the delegation that the White House finally revealed Wednesday will include Commerce Secretary Wilbur Ross and United States Trade Representative Robert Lighthizer. After the USA unveiled a list of $50 billion in potential tariffs on Chinese products, Beijing responded with plans to implement billions of dollars in reciprocal penalties on US soybeans, cars and other items. -China flights, a person familiar with the episode said.

Liu He said during his meetings in Washington with former U.S. Secretary of State Henry Kissinger as well as current U.S. lawmakers that healthy Sino-U.S. relations are in line with the interests of both countries and that Beijing and Washington should properly handle the trade dispute with mutual respect and aim for mutually beneficial outcomes, according to Xinhua.

In his meeting with key lawmakers of both houses of the U.S. Congress, Liu said the two nations' commitment to a long-standing, healthy and stable bilateral relationship is in line with the fundamental interests of the two peoples and the shared expectations of the global community. But the Treasury secretary was just following protocol in meeting one-on-one with his Chinese counterpart as the head of the delegation, according to a senior administration official.

Members of the trade- and tax-focused U.S. House of Representatives' Ways and Means Committee said they told Liu that he needed to address U.S. concerns about intellectual property theft, forced technology transfers, and barriers to investment in China and U.S. agricultural exports.

"They are certainly mindful of impending threats of tariffs", Neal said.

"ZTE not only violated US sanctions law (by selling USA telecoms equipment to Iran and North Korea), but then repeatedly lied about steps it would take to remedy the problems", the senators said.

"We have not seen China's demands yet, which should be few in that previous U.S. Administrations have done so poorly in negotiating", Trump said.

"Nothing has happened with ZTE except as it pertains to the larger trade deal", Mr Trump said on Twitter. The U.S. has very little to give, because it has given so much over the years.

"We do not want to see the escalation of the trade frictions between China and the U.S.", Gao said at a weekly briefing. For example, during the Beijing trip, Chinese officials pressed Mnuchin and others to relax restrictions on ZTE Corp., a controversial Chinese telecommunications company that has violated USA law.