US President Donald Trump said Tuesday he would consider extending the deadline for a trade deal with China beyond March 1.

"If we're close to a deal ... I could see myself letting that slide for a little while," Trump said at the White House.

The comments came as the third round of trade negotiations were set to resume in Beijing to avert more than doubling tariffs on $200 billion in Chinese imports.

US President Donald Trump said Tuesday he would consider extending the deadline for a trade deal with China beyond March 1. "If we're close to a deal ... I could see myself letting that slide for a little while," Trump said at the White House.

US President Donald Trump said Tuesday he would consider extending the deadline for a trade deal with China beyond March 1. "If we're close to a deal ... I could see myself letting that slide for a little while," Trump said at the White House. The comments came as the third round of trade negotiations were set to resume in Beijing to avert more than doubling tariffs on $200 billion in Chinese imports.

Trump says could extend China trade talks deadline

<a href="http://www.wionews.com/business-economy/gold-rises-as-us-government-shutdown-deepens-global-growth-concerns-192633">Gold prices</a> held firm on Monday, supported by worries over a slowdown in global economic growth and uncertainties around Sino-US trade war, but a strong dollar limited the safe-haven metal's appeal.

Spot gold was marginally lower at $1,312.76 per ounce, as of 0254 GMT, while US gold futures fell 0.2 per cent to $1,316.50 per ounce.

"Global growth worries, the absence of positive signs in US-China trade (talks) and reduction in the euro-zone growth forecasts have laid a strong foundation for gold in the longer run," said Benjamin Lu, an analyst with Singapore-based Phillip Futures.

"There are a lot of headwinds for gold in the near-term from the six-week rally in US equities and a vigorous dollar."

Investors are looking ahead to trade talks between Beijing and Washington this week with a delegation of US officials travelling to China for the next round of negotiations. US President Donald Trump said last week that he had no plans to meet with Chinese President Xi Jinping before a March 1 deadline to achieve a trade deal.

Trump has vowed to increase US tariffs on $200 billion worth of Chinese imports if the two sides cannot reach a deal by 12:01 a.m. (0501 GMT) on March 2.

Trade tensions between the world's top two economies have rattled financial markets since last year and also boosted the appeal of the US dollar as a safe-haven.

The dollar index was hovering near a more than one-month high touched in the previous session.

A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies.

Gold slumped to a more than 1-1/2-year low in mid-August to $1,159.96 on rising interest rates and a strong dollar. But, tumultuous stock markets and expectations of a pause in interest rate hikes this year helped gold touch a nine-month high at $1,326.30 in late January.

Tighter financial conditions since last September make further interest rate hikes seem much less necessary than just a few months ago, San Francisco Federal Reserve Bank President Mary Daly said on Friday.

While gold is supported by the Fed's dovish policy, prices will likely remain range-bound until there is clarity on the trade front and US government shutdown, OANDA analyst Edward Moya said in a note.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, saw outflows for five straight sessions last week.

Talks on border security funding collapsed after Democratic and Republican lawmakers clashed over immigrant detention policy as they worked to avert another US government shutdown.

Meanwhile, palladium fell 0.5 per cent to $1,395 an ounce.

Spot silver dropped 0.2 per cent to $15.79, while platinum was down 0.5 perc ent at $794.

Gold prices held firm on Monday, supported by worries over a slowdown in global economic growth and uncertainties around Sino-US trade war, but a strong dollar limited the safe-haven metal's appeal.

Gold prices held firm on Monday, supported by worries over a slowdown in global economic growth and uncertainties around Sino-US trade war, but a strong dollar limited the safe-haven metal's appeal. Spot gold was marginally lower at $1,312.76 per ounce, as of 0254 GMT, while US gold futures fell 0.2 per cent to $1,316.50 per ounce. "Global growth worries, the absence of positive signs in US-China trade (talks) and reduction in the euro-zone growth forecasts have laid a strong foundation for gold in the longer run," said Benjamin Lu, an analyst with Singapore-based Phillip Futures. "There are a lot of headwinds for gold in the near-term from the six-week rally in US equities and a vigorous dollar." Investors are looking ahead to trade talks between Beijing and Washington this week with a delegation of US officials travelling to China for the next round of negotiations. US President Donald Trump said last week that he had no plans to meet with Chinese President Xi Jinping before a March 1 deadline to achieve a trade deal. Trump has vowed to increase US tariffs on $200 billion worth of Chinese imports if the two sides cannot reach a deal by 12:01 a.m. (0501 GMT) on March 2. Trade tensions between the world's top two economies have rattled financial markets since last year and also boosted the appeal of the US dollar as a safe-haven. The dollar index was hovering near a more than one-month high touched in the previous session. A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies. Gold slumped to a more than 1-1/2-year low in mid-August to $1,159.96 on rising interest rates and a strong dollar. But, tumultuous stock markets and expectations of a pause in interest rate hikes this year helped gold touch a nine-month high at $1,326.30 in late January. Tighter financial conditions since last September make further interest rate hikes seem much less necessary than just a few months ago, San Francisco Federal Reserve Bank President Mary Daly said on Friday. While gold is supported by the Fed's dovish policy, prices will likely remain range-bound until there is clarity on the trade front and US government shutdown, OANDA analyst Edward Moya said in a note. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, saw outflows for five straight sessions last week. Talks on border security funding collapsed after Democratic and Republican lawmakers clashed over immigrant detention policy as they worked to avert another US government shutdown. Meanwhile, palladium fell 0.5 per cent to $1,395 an ounce. Spot silver dropped 0.2 per cent to $15.79, while platinum was down 0.5 perc ent at $794.

Gold holds steady on global growth concerns; trade talks in focus

China hopes that the next round of negotiations aimed at ending a <a href="http://www.wionews.com/world/us-china-trade-talks-trump-to-meet-chinese-vice-premier-this-week-193558">trade dispute between China and the United States</a> yields positive results, the foreign ministry said on Monday.

Preparatory meetings were held on Monday with deputy US trade representative Jeffrey Gerrish ahead of the resumption of talks this week in Beijing.

"The two sides will discuss trade topics in more depth," Chinese foreign ministry spokesperson Hua Chunying said at a press conference.

"We hope to see a good result from this discussion," she added.

Senior level meetings will be held on Thursday and Friday between Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and US Secretary of the Treasury Steven Mnuchin, Hua said.

This week will see the third face-to-face meeting between representatives of both countries since Chinese President Xi Jinping and his US counterpart, Donald Trump, agreed on December 1 to declare a 90-day truce to the trade dispute, making March 1 the deadline for finalizing a deal.

Negotiators made "important progress" in the last round of talks, held at the end of January in Washington DC, China's state-owned agency Xinhua reported.

A wide range of topics were discussed during those talks, including trade balance, technology transfer, protection of intellectual property rights, non-tariff barriers, service sector, agriculture and enforcement mechanism, according to Xinhua.

Since the December 1 truce, China has lowered tariffs on vehicles imported from the US, resuming the purchase of soya and submitting a bill to ban the forced transfer of technology, as part of various goodwill gestures.

Meanwhile, Trump temporarily suspended the 10-25 per cent tariff increase on Chinese products valued at $200 billion but threatened to discontinue the plan if a trade agreement is not reached before the expiry of the 90-day term.

The dispute dates from July last year, when the White House announced a series of tariffs would be imposed on Chinese goods, triggering the escalating trade dispute which saw both countries impose reciprocal tariffs on each other's imports.

In his election campaign, Trump had pledged to address the trade imbalance and China's perceived "longtime abuse of the broken international system".

China hopes that the next round of negotiations aimed at ending a trade dispute between China and the United States yields positive results, the foreign ministry said on Monday.

China hopes that the next round of negotiations aimed at ending a trade dispute between China and the United States yields positive results, the foreign ministry said on Monday. Preparatory meetings were held on Monday with deputy US trade representative Jeffrey Gerrish ahead of the resumption of talks this week in Beijing. "The two sides will discuss trade topics in more depth," Chinese foreign ministry spokesperson Hua Chunying said at a press conference. "We hope to see a good result from this discussion," she added. Senior level meetings will be held on Thursday and Friday between Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and US Secretary of the Treasury Steven Mnuchin, Hua said. This week will see the third face-to-face meeting between representatives of both countries since Chinese President Xi Jinping and his US counterpart, Donald Trump, agreed on December 1 to declare a 90-day truce to the trade dispute, making March 1 the deadline for finalizing a deal. Negotiators made "important progress" in the last round of talks, held at the end of January in Washington DC, China's state-owned agency Xinhua reported. A wide range of topics were discussed during those talks, including trade balance, technology transfer, protection of intellectual property rights, non-tariff barriers, service sector, agriculture and enforcement mechanism, according to Xinhua. Since the December 1 truce, China has lowered tariffs on vehicles imported from the US, resuming the purchase of soya and submitting a bill to ban the forced transfer of technology, as part of various goodwill gestures. Meanwhile, Trump temporarily suspended the 10-25 per cent tariff increase on Chinese products valued at $200 billion but threatened to discontinue the plan if a trade agreement is not reached before the expiry of the 90-day term. The dispute dates from July last year, when the White House announced a series of tariffs would be imposed on Chinese goods, triggering the escalating trade dispute which saw both countries impose reciprocal tariffs on each other's imports. In his election campaign, Trump had pledged to address the trade imbalance and China's perceived "longtime abuse of the broken international system".

China hopes for positive results from next round of trade talks with US

Chinese state-owned firms bought at least 1 million tonnes of US soybeans on Friday, a day after <a href="http://www.wionews.com/world/asian-markets-mixed-as-china-us-agree-to-further-trade-talks-194366">high-level bilateral talks</a> yielded progress toward a trade deal and a Chinese commitment to buy more US soybeans.

The purchases are slated for shipment between April and July, with a large share expected from US Gulf Coast export terminals, three traders with knowledge of the deals said.

One trader with direct knowledge of the deals said total purchases were around 2.2 million tonnes. The other two traders said the sales were similar to three recent waves of buying in which state-owned firms booked 1 million to 1.5 million tonnes of soybeans.

The US soybean futures rallied to multi-month highs on Friday on news of renewed demand from the world's top importer.

But the market's gains were restrained by worries that Chinese purchases will hardly dent massive soybean stockpiles in the United States and around the world. The looming harvest of a large soy crop in Brazil, the world's top supplier, further capped prices.

"It certainly is good to see some concessions and more buying interest from China, but this is a concession in terms of a larger trade agreement. Brazilian offers are cheaper than we are so it's just part of the negotiation," said Terry Linn, an analyst with Chicago-based brokerage Linn &amp; Associates.

Friday's purchases by state-owned firms were believed to be destined for China's state reserves, and thus immune from high import tariffs on US beans. The 25 per cent tariffs, imposed last summer in retaliation for US tariffs on Chinese goods, remain in place for US soy imports by commercial crushers in China.

Exports to China have plummeted this season during a bitter trade dispute, with swelling supplies sending prices to near decade lows last autumn and US farmers struggling to turn a profit.

China has been buying most of its soybeans from Brazil, which is on pace to harvest a bumper crop in the coming months.

Friday's sales bring China's total purchases of the 2018 US soybean harvest to at least 6.5 million tonnes, a fraction of its traditional annual haul from the United States of more than 30 million tonnes.

Through January of 2017, more than 29.4 million tonnes of that season's harvest had already been shipped to China, with another 4 million tonnes sold and awaiting shipment, according to US Department of Agriculture data.

Benchmark Chicago Board of Trade March futures climbed to $9.31-1/4 a bushel on Friday, the highest point for a most actively traded soy contract since mid-June. Beijing slapped steep tariffs on US soybeans on July 6, effectively halting all US shipments to their top customer.

Before Friday's sales, China had previously booked an estimated 5 million tonnes of US soybeans in three waves of purchases since U.S. President Donald Trump and his Chinese counterpart Xi Jinping agreed to a trade war detente on December 1.

After high-level trade talks in Washington this week, Chinese Vice Premier Liu He announced on Thursday China would buy an additional 5 million tonnes.

Chinese state-owned firms bought at least 1 million tonnes of US soybeans on Friday, a day after high-level bilateral talks yielded progress toward a trade deal and a Chinese commitment to buy more US soybeans.

Chinese state-owned firms bought at least 1 million tonnes of US soybeans on Friday, a day after high-level bilateral talks yielded progress toward a trade deal and a Chinese commitment to buy more US soybeans. The purchases are slated for shipment between April and July, with a large share expected from US Gulf Coast export terminals, three traders with knowledge of the deals said. One trader with direct knowledge of the deals said total purchases were around 2.2 million tonnes. The other two traders said the sales were similar to three recent waves of buying in which state-owned firms booked 1 million to 1.5 million tonnes of soybeans. The US soybean futures rallied to multi-month highs on Friday on news of renewed demand from the world's top importer. But the market's gains were restrained by worries that Chinese purchases will hardly dent massive soybean stockpiles in the United States and around the world. The looming harvest of a large soy crop in Brazil, the world's top supplier, further capped prices. "It certainly is good to see some concessions and more buying interest from China, but this is a concession in terms of a larger trade agreement. Brazilian offers are cheaper than we are so it's just part of the negotiation," said Terry Linn, an analyst with Chicago-based brokerage Linn & Associates. Friday's purchases by state-owned firms were believed to be destined for China's state reserves, and thus immune from high import tariffs on US beans. The 25 per cent tariffs, imposed last summer in retaliation for US tariffs on Chinese goods, remain in place for US soy imports by commercial crushers in China. Exports to China have plummeted this season during a bitter trade dispute, with swelling supplies sending prices to near decade lows last autumn and US farmers struggling to turn a profit. China has been buying most of its soybeans from Brazil, which is on pace to harvest a bumper crop in the coming months. Friday's sales bring China's total purchases of the 2018 US soybean harvest to at least 6.5 million tonnes, a fraction of its traditional annual haul from the United States of more than 30 million tonnes. Through January of 2017, more than 29.4 million tonnes of that season's harvest had already been shipped to China, with another 4 million tonnes sold and awaiting shipment, according to US Department of Agriculture data. Benchmark Chicago Board of Trade March futures climbed to $9.31-1/4 a bushel on Friday, the highest point for a most actively traded soy contract since mid-June. Beijing slapped steep tariffs on US soybeans on July 6, effectively halting all US shipments to their top customer. Before Friday's sales, China had previously booked an estimated 5 million tonnes of US soybeans in three waves of purchases since U.S. President Donald Trump and his Chinese counterpart Xi Jinping agreed to a trade war detente on December 1. After high-level trade talks in Washington this week, Chinese Vice Premier Liu He announced on Thursday China would buy an additional 5 million tonnes.

China buys one million tonnes of US soybeans a day after trade talks

US President Donald Trump will meet with China's trade envoy this week during talks aimed at resolving the trade dispute with Beijing, US Treasury Secretary Steven Mnuchin said Monday.

Chinese Vice Premier Liu He is leading a delegation of 30 officials to Washington for talks Wednesday and Thursday as the pressure mounts on both sides to reach a deal.

Beijing and Washington have a month remaining in a truce declared in December before US tariffs on hundreds of billions in Chinese exports are due to increase sharply -- a prospect economists say could help knock the wind out of an already-faltering global economy.

Mnuchin told reporters he expected "significant progress at these meetings." He will participate in the talks along with US Trade Representative Robert Lighthizer and Commerce Secretary Wilbur Ross, among others.

While Trump has made the soaring $336 billion US trade deficit with China a particular focus of his ire, American officials also are demanding far-reaching reforms to Chinese industrial policy to curb the alleged theft of American technological know-how and massive state intervention in commodities markets.

The world's two largest economies last year exchanged tariffs on more than $360 billion in two-way trade. US duty rates on $200 billion in Chinese goods are scheduled to increase to 25 percent from 10 percent on March 2 unless Trump decides otherwise.

Slowing economy 
The tariffs have weighed on China's slowing economy, which last year posted its weakest performance in 30 years.

Apparently seeking to manage expectations in the trade talks, US officials have alternated between saying the two sides are "miles and miles" from reaching an agreement and projecting optimism that common ground can be reached.

Mnuchin said Monday that enforcement of any agreement, protection of American intellectual property and an end to the forced joint venture policies as a condition of access to the Chinese market were "three of the most important issues on the agenda."

The need to make any agreement enforceable was "obvious," he said.

"We want to make sure that when we get a deal that that deal will be enforced," Mnuchin said, adding that "there's been an acknowledgement with China that they understand that."

Observers say China is likely to resist making any changes to its "Made in China 2025" industrial strategy and that resolving such complex disagreements is a tall order within the three-month window of the current trade truce.

Released in 2015, the Chinese strategy sets the goal of industrial dominance in sectors such as robotics, artificial intelligence, electric autos and other areas deemed crucial to the future economic success of developed economies.

Trump's aggressive trade strategy sees Beijing's goals as a direct threat to American dominance.

Meanwhile, Washington also unveiled sweeping criminal charges against the Chinese telecommunications giant Huawei -- an uncomfortable bone of contention between the two partners that has so far involved the arrest of a top company executive in Canada on a US warrant.

As the charges were announced at a separate event from Mnuchin's briefing, Commerce Secretary Wilbur Ross told reporters the two matters were not at all related.

"These indictments are law enforcement actions and are wholly separate from our trade negotiations with China," Ross said.

"Commerce will continue to work with our interagency partners to protect US national security interests."

US President Donald Trump will meet with China's trade envoy this week during talks aimed at resolving the trade dispute with Beijing, US Treasury Secretary Steven Mnuchin said Monday.

US President Donald Trump will meet with China's trade envoy this week during talks aimed at resolving the trade dispute with Beijing, US Treasury Secretary Steven Mnuchin said Monday. Chinese Vice Premier Liu He is leading a delegation of 30 officials to Washington for talks Wednesday and Thursday as the pressure mounts on both sides to reach a deal. Beijing and Washington have a month remaining in a truce declared in December before US tariffs on hundreds of billions in Chinese exports are due to increase sharply -- a prospect economists say could help knock the wind out of an already-faltering global economy. Mnuchin told reporters he expected "significant progress at these meetings." He will participate in the talks along with US Trade Representative Robert Lighthizer and Commerce Secretary Wilbur Ross, among others. While Trump has made the soaring $336 billion US trade deficit with China a particular focus of his ire, American officials also are demanding far-reaching reforms to Chinese industrial policy to curb the alleged theft of American technological know-how and massive state intervention in commodities markets. The world's two largest economies last year exchanged tariffs on more than $360 billion in two-way trade. US duty rates on $200 billion in Chinese goods are scheduled to increase to 25 percent from 10 percent on March 2 unless Trump decides otherwise. Slowing economy The tariffs have weighed on China's slowing economy, which last year posted its weakest performance in 30 years. Apparently seeking to manage expectations in the trade talks, US officials have alternated between saying the two sides are "miles and miles" from reaching an agreement and projecting optimism that common ground can be reached. Mnuchin said Monday that enforcement of any agreement, protection of American intellectual property and an end to the forced joint venture policies as a condition of access to the Chinese market were "three of the most important issues on the agenda." The need to make any agreement enforceable was "obvious," he said. "We want to make sure that when we get a deal that that deal will be enforced," Mnuchin said, adding that "there's been an acknowledgement with China that they understand that." Observers say China is likely to resist making any changes to its "Made in China 2025" industrial strategy and that resolving such complex disagreements is a tall order within the three-month window of the current trade truce. Released in 2015, the Chinese strategy sets the goal of industrial dominance in sectors such as robotics, artificial intelligence, electric autos and other areas deemed crucial to the future economic success of developed economies. Trump's aggressive trade strategy sees Beijing's goals as a direct threat to American dominance. Meanwhile, Washington also unveiled sweeping criminal charges against the Chinese telecommunications giant Huawei -- an uncomfortable bone of contention between the two partners that has so far involved the arrest of a top company executive in Canada on a US warrant. As the charges were announced at a separate event from Mnuchin's briefing, Commerce Secretary Wilbur Ross told reporters the two matters were not at all related. "These indictments are law enforcement actions and are wholly separate from our trade negotiations with China," Ross said. "Commerce will continue to work with our interagency partners to protect US national security interests."

US-China trade talks: Trump to meet Chinese vice premier this week

The United States and China concluded on Wednesday three days of extended talks to resolve their trade war, with a member of the American delegation saying negotiations "went just fine".

The US officials arrived in Beijing on Monday for the first sit-down talks since President Donald Trump and Chinese leader Xi Jinping agreed on December 1 to a three-month truce on a tit-for-tat trade spat.

Asian markets rose on increasing optimism that the two sides would be able to hammer out a deal ahead of a March deadline and avert further import tariff hikes.

A member of the US delegation, Under Secretary for Trade and Foreign Agricultural Affairs Ted McKinney, told reporters that the team would return to the United States later on Wednesday.

"I think they went just fine," McKinney said of the talks as he left the hotel with his luggage, adding the trip "has been a good one for us".

<a href="http://www.wionews.com/world/trump-says-us-china-trade-talks-going-very-well-189098">Trump boasted on Twitter</a> on Tuesday that discussions in China were "going very well!"

China's foreign ministry confirmed the negotiations had ended in Beijing but declined to comment on the outcome, saying details would be released later.&nbsp;

"If it's a good outcome, it doesn't just benefit the US and China, but it is also good news for the world economy," said foreign ministry spokesman Lu Kang.

The US delegation, led by Deputy Trade Representative Jeffrey Gerrish, had been scheduled to end its visit on Tuesday.

"The extension of the talks indicate that both sides take this very seriously," Lu said.

Washington has been clamouring for an end to the alleged forced transfer -- and even theft -- of American technology, as well as steep government subsidies for Chinese companies.&nbsp;

The Trump administration also wants Beijing to buy more American goods to narrow a yawning trade gap and allow foreign players better access to the Chinese market.

'Encouraging words' 
US Commerce Secretary Wilbur Ross signalled in a CNBC interview on Monday that there was a "very good chance" of reaching an agreement.

China's economy was more vulnerable to the fallout from the trade war, he said, noting that Beijing exports more goods to the United States than the other way around.

"I think a deal is very possible and I've heard some very encouraging words," Apple chief executive Tim Cook told CNBC.

"I don't speak for them obviously," Cook said in reference to the Trump administration. "I do talk with them and I give them my ideas and thoughts."

The US smartphone maker has felt the pinch of the bruising trade spat, and warned that 2018 revenues would miss its forecast -- in large part due to a slump in iPhone sales in China.

The temporary trade-war ceasefire came after the two sides imposed import duties on more than $300 billion of each other's goods.

Without a resolution, punitive US duty rates on $200 billion in Chinese goods are due to rise to 25 percent from 10 percent on March 2.

The current trade round coincided with an unannounced visit from North Korean leader Kim Jong Un, who arrived in Beijing on Tuesday for talks with Xi in Beijing ahead of a possible second meeting between Kim and Trump.

China -- Pyongyang's sole diplomatic ally and main source of trade -- said it would not use Kim's visit as a bargaining chip in the US trade talks.

Kim's train left Beijing on Wednesday around the same time the US trade negotiators headed for the airport.

The United States and China concluded on Wednesday three days of extended talks to resolve their trade war, with a member of the American delegation saying negotiations "went just fine".

The United States and China concluded on Wednesday three days of extended talks to resolve their trade war, with a member of the American delegation saying negotiations "went just fine". The US officials arrived in Beijing on Monday for the first sit-down talks since President Donald Trump and Chinese leader Xi Jinping agreed on December 1 to a three-month truce on a tit-for-tat trade spat. Asian markets rose on increasing optimism that the two sides would be able to hammer out a deal ahead of a March deadline and avert further import tariff hikes. A member of the US delegation, Under Secretary for Trade and Foreign Agricultural Affairs Ted McKinney, told reporters that the team would return to the United States later on Wednesday. "I think they went just fine," McKinney said of the talks as he left the hotel with his luggage, adding the trip "has been a good one for us". Trump boasted on Twitter on Tuesday that discussions in China were "going very well!" China's foreign ministry confirmed the negotiations had ended in Beijing but declined to comment on the outcome, saying details would be released later. "If it's a good outcome, it doesn't just benefit the US and China, but it is also good news for the world economy," said foreign ministry spokesman Lu Kang. The US delegation, led by Deputy Trade Representative Jeffrey Gerrish, had been scheduled to end its visit on Tuesday. "The extension of the talks indicate that both sides take this very seriously," Lu said. Washington has been clamouring for an end to the alleged forced transfer -- and even theft -- of American technology, as well as steep government subsidies for Chinese companies. The Trump administration also wants Beijing to buy more American goods to narrow a yawning trade gap and allow foreign players better access to the Chinese market. 'Encouraging words' US Commerce Secretary Wilbur Ross signalled in a CNBC interview on Monday that there was a "very good chance" of reaching an agreement. China's economy was more vulnerable to the fallout from the trade war, he said, noting that Beijing exports more goods to the United States than the other way around. "I think a deal is very possible and I've heard some very encouraging words," Apple chief executive Tim Cook told CNBC. "I don't speak for them obviously," Cook said in reference to the Trump administration. "I do talk with them and I give them my ideas and thoughts." The US smartphone maker has felt the pinch of the bruising trade spat, and warned that 2018 revenues would miss its forecast -- in large part due to a slump in iPhone sales in China. The temporary trade-war ceasefire came after the two sides imposed import duties on more than $300 billion of each other's goods. Without a resolution, punitive US duty rates on $200 billion in Chinese goods are due to rise to 25 percent from 10 percent on March 2. The current trade round coincided with an unannounced visit from North Korean leader Kim Jong Un, who arrived in Beijing on Tuesday for talks with Xi in Beijing ahead of a possible second meeting between Kim and Trump. China -- Pyongyang's sole diplomatic ally and main source of trade -- said it would not use Kim's visit as a bargaining chip in the US trade talks. Kim's train left Beijing on Wednesday around the same time the US trade negotiators headed for the airport.

US, China conclude trade talks, American official says they 'went just fine'

A US government delegation will visit China next week for the first face-to-face talks since President Donald Trump and his Chinese counterpart agreed on a temporary truce in the trade war, Beijing said Friday.

The US and China have exchanged tit-for-tat tariffs on more than $300 billion worth of goods in total two-way trade, locking them in a conflict that has begun to eat into profits and contributed to stock market plunges.

Deputy US Trade Representative Jeffrey Gerrish will lead the Washington delegation and will discuss "implementing the important consensus" reached by Trump and Chinese President Xi Jinping at the sidelines of the G20 summit in Argentina last year, China's commerce ministry said.

Word of the meeting next Monday and Tuesday follows small signs of progress -- and the absence of new threats from Trump -- while the two sides work to ease trade tensions by March 1.

Trump initiated the trade war because of complaints over unfair Chinese trade practices -- concerns shared by the European Union, Japan and others.

The ceasefire began on December 1 in Buenos Aires after the two heads of state agreed to hold off on further tariffs or retaliation for 90 days.

In December, Beijing's commerce ministry said China and the US "made new progress" on the issues of trade balance and intellectual property –- one of the main sticking points of the trade dispute -- during a phone call between officials from the two countries.

China's major state-owned grain stockpiler also said it had resumed buying US soybeans, and Beijing announced it would suspend extra tariffs on US-made cars and auto parts starting January 1.

The bruising trade war comes as China grapples with a slowing domestic economy. Growth is expected by the government to have eased to around 6.5 per cent in 2018, down from 6.9 per cent in 2017.

The country's manufacturing sector has also been hit by the trade dispute, contracting last month for the first time in over two years, according to official data.

US firms that rely on Chinese consumers have also been impacted by the country's economic slowdown.&nbsp;

Shares in Apple slid nine per cent after it announced late Wednesday that it was trimming its sales forecast for the most recent quarter, citing steeper-than-expected "economic deceleration" in China -- one of its largest overseas markets -- amid the US-China trade war.

A US government delegation will visit China next week for the first face-to-face talks since President Donald Trump and his Chinese counterpart agreed on a temporary truce in the trade war, Beijing said Friday.

A US government delegation will visit China next week for the first face-to-face talks since President Donald Trump and his Chinese counterpart agreed on a temporary truce in the trade war, Beijing said Friday. The US and China have exchanged tit-for-tat tariffs on more than $300 billion worth of goods in total two-way trade, locking them in a conflict that has begun to eat into profits and contributed to stock market plunges. Deputy US Trade Representative Jeffrey Gerrish will lead the Washington delegation and will discuss "implementing the important consensus" reached by Trump and Chinese President Xi Jinping at the sidelines of the G20 summit in Argentina last year, China's commerce ministry said. Word of the meeting next Monday and Tuesday follows small signs of progress -- and the absence of new threats from Trump -- while the two sides work to ease trade tensions by March 1. Trump initiated the trade war because of complaints over unfair Chinese trade practices -- concerns shared by the European Union, Japan and others. The ceasefire began on December 1 in Buenos Aires after the two heads of state agreed to hold off on further tariffs or retaliation for 90 days. In December, Beijing's commerce ministry said China and the US "made new progress" on the issues of trade balance and intellectual property –- one of the main sticking points of the trade dispute -- during a phone call between officials from the two countries. China's major state-owned grain stockpiler also said it had resumed buying US soybeans, and Beijing announced it would suspend extra tariffs on US-made cars and auto parts starting January 1. The bruising trade war comes as China grapples with a slowing domestic economy. Growth is expected by the government to have eased to around 6.5 per cent in 2018, down from 6.9 per cent in 2017. The country's manufacturing sector has also been hit by the trade dispute, contracting last month for the first time in over two years, according to official data. US firms that rely on Chinese consumers have also been impacted by the country's economic slowdown. Shares in Apple slid nine per cent after it announced late Wednesday that it was trimming its sales forecast for the most recent quarter, citing steeper-than-expected "economic deceleration" in China -- one of its largest overseas markets -- amid the US-China trade war.

US govt delegation to visit China for trade negotiation

A US&nbsp;trade team will travel to Beijing the week of January&nbsp;7 to hold talks with Chinese officials, Bloomberg reported on Wednesday, citing two people familiar with the matter.

The delegation will be led by Deputy US&nbsp;Trade Representative Jeffrey Gerrish and will include David Malpass, Treasury under secretary for international affairs, Bloomberg said.

US&nbsp;and Chinese officials have spoken by phone in recent weeks, but next month's meeting would be the first in-person talks since President Donald Trump met with his Chinese counterpart, Xi Jinping, in Buenos Aires on December&nbsp;1.

Trump and Xi agreed to stop escalating tit-for-tat tariffs that have disrupted the flow of hundreds of billions of dollars of goods between the world's two biggest economies. The two leaders also agreed to launch new talks while the United States delayed a planned January&nbsp;1 tariff increase until March 2.

A person familiar with the matter told Reuters last week that talks were likely in early January.

The US&nbsp;Trade Representative's Office and the Treasury Department did not immediately respond to requests for comment.

A US trade team will travel to Beijing the week of January 7 to hold talks with Chinese officials, Bloomberg reported on Wednesday, citing two people familiar with the matter.

A US trade team will travel to Beijing the week of January 7 to hold talks with Chinese officials, Bloomberg reported on Wednesday, citing two people familiar with the matter. The delegation will be led by Deputy US Trade Representative Jeffrey Gerrish and will include David Malpass, Treasury under secretary for international affairs, Bloomberg said. US and Chinese officials have spoken by phone in recent weeks, but next month's meeting would be the first in-person talks since President Donald Trump met with his Chinese counterpart, Xi Jinping, in Buenos Aires on December 1. Trump and Xi agreed to stop escalating tit-for-tat tariffs that have disrupted the flow of hundreds of billions of dollars of goods between the world's two biggest economies. The two leaders also agreed to launch new talks while the United States delayed a planned January 1 tariff increase until March 2. A person familiar with the matter told Reuters last week that talks were likely in early January. The US Trade Representative's Office and the Treasury Department did not immediately respond to requests for comment.

US delegation to travel to China early in January for trade talks

Days after concluding a "temporary deal" with China on trade, <a href="http://www.wionews.com/world/trump-says-china-has-agreed-to-cut-tariffs-on-us-made-cars-181113">President Trump said negotiation had</a> already started and "unless extended" it will end 90 days from the "date of &nbsp;wonderful and very warm dinner with President Xi in Argentina."

"Bob Lighthizer will be working closely with Steve Mnuchin, Larry Kudlow, Wilbur Ross and Peter Navarro," the US president said in a tweet. Trump has appointed Lighthizer to oversee the new round of talks as the US administration seeks to take a hardline on the talks.

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The negotiations with China have already started. Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina. Bob Lighthizer will be working closely with Steve Mnuchin, Larry Kudlow, Wilbur Ross and Peter Navarro.....
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1069962093301022720?ref_src=twsrc%5Etfw">December 4, 2018</a></blockquote>
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Trump and Xi had decided to temporarily halt the escalating trade war with a 90-day freeze on tariffs, allowing negotiators on both sides to strike a deal to do away with tariffs altogether.

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......on seeing whether or not a REAL deal with China is actually possible. If it is, we will get it done. China is supposed to start buying Agricultural product and more immediately. President Xi and I want this deal to happen, and it probably will. But if not remember,......
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1069968462724980736?ref_src=twsrc%5Etfw">December 4, 2018</a></blockquote>
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"President Xi and I want this deal to happen, and it probably will. But if not remember, I am a tariff man," he said, adding,"when people or countries come in to raid the great wealth of our nation, I want them to pay for the privilege of doing so."

White House economic advisor Larry Kudlow had said the Trump administration expected the tariffs to drop to "zero".

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....I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1069970500535902208?ref_src=twsrc%5Etfw">December 4, 2018</a></blockquote>
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"It will always be the best way to max out our economic power. We are right now taking in billions of dollars in tariffs," the US president asserted.

"If a fair deal is able to be made with China, one that does all of the many things we know must be finally done, I will happily sign," he informed.

However, despite President Trump's expectations, Wall Stree stocks fell on scepticism over US-China trade talks. The S&amp;P technology sector fell 0.96 per cent, while industrials dropped 1.22 per cent as fears persisted on the success of the trade talks.

Trump has decided to levy tariffs on $200 billion worth of Chinese imports at 10 per cent from January next year and agreed not raise them to 25 per cent in the near future, at least for the next 90 days.

"China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries," the White House had said after Trump-Xi talks.

"China has agreed to start purchasing agricultural product from our farmers immediately," he said.

Days after concluding a "temporary deal" with China on trade, President Trump said negotiation had already started and "unless extended" it will end 90 days from the "date of wonderful and very warm dinner with President Xi in Argentina.

Days after concluding a "temporary deal" with China on trade, President Trump said negotiation had already started and "unless extended" it will end 90 days from the "date of wonderful and very warm dinner with President Xi in Argentina." "Bob Lighthizer will be working closely with Steve Mnuchin, Larry Kudlow, Wilbur Ross and Peter Navarro," the US president said in a tweet. Trump has appointed Lighthizer to oversee the new round of talks as the US administration seeks to take a hardline on the talks. The negotiations with China have already started. Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina. Bob Lighthizer will be working closely with Steve Mnuchin, Larry Kudlow, Wilbur Ross and Peter Navarro..... — Donald J. Trump (@realDonaldTrump) December 4, 2018 × Trump and Xi had decided to temporarily halt the escalating trade war with a 90-day freeze on tariffs, allowing negotiators on both sides to strike a deal to do away with tariffs altogether. ......on seeing whether or not a REAL deal with China is actually possible. If it is, we will get it done. China is supposed to start buying Agricultural product and more immediately. President Xi and I want this deal to happen, and it probably will. But if not remember,...... — Donald J. Trump (@realDonaldTrump) December 4, 2018 × "President Xi and I want this deal to happen, and it probably will. But if not remember, I am a tariff man," he said, adding,"when people or countries come in to raid the great wealth of our nation, I want them to pay for the privilege of doing so." White House economic advisor Larry Kudlow had said the Trump administration expected the tariffs to drop to "zero". ....I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN — Donald J. Trump (@realDonaldTrump) December 4, 2018 × "It will always be the best way to max out our economic power. We are right now taking in billions of dollars in tariffs," the US president asserted. "If a fair deal is able to be made with China, one that does all of the many things we know must be finally done, I will happily sign," he informed. However, despite President Trump's expectations, Wall Stree stocks fell on scepticism over US-China trade talks. The S&P technology sector fell 0.96 per cent, while industrials dropped 1.22 per cent as fears persisted on the success of the trade talks. Trump has decided to levy tariffs on $200 billion worth of Chinese imports at 10 per cent from January next year and agreed not raise them to 25 per cent in the near future, at least for the next 90 days. "China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries," the White House had said after Trump-Xi talks. "China has agreed to start purchasing agricultural product from our farmers immediately," he said.

I am a tariff man, if a fair deal is made with China I will happily sign: Trump

China's Vice Premier Liu He will visit the United States next week to continue trade discussions between both the countries.

Liu He's talks with a high-level US delegation in Beijing last week made little headway in resolving the ongoing trade standoff between Trump administration and Xi regime.

"China's top economic advisor, the vice premier, will be coming here next week to continue the discussions with the President's economic team," White House press secretary Sarah Sanders noted.

"The president has a great relationship with President Xi," Sanders said. "And we are working on something that we think will be great for everybody."

US President Donald Trump had previously accused China of using unfair practices to get an unfair advantage over US exporters. The two countries have been busy threatening each other with trade tariffs on billions of dollars of goods.&nbsp

The ongoing trade spat between US and China can potentially fuel a trade war between the economic superpowers, something that can cause long-term damage to the global economy.

(With inputs from AFP)

US President Donald Trump had previously accused China of using unfair practices to get an unfair advantage over US exporters

China's Vice Premier Liu He will visit the United States next week to continue trade discussions between both the countries. Liu He's talks with a high-level US delegation in Beijing last week made little headway in resolving the ongoing trade standoff between Trump administration and Xi regime. "China's top economic advisor, the vice premier, will be coming here next week to continue the discussions with the President's economic team," White House press secretary Sarah Sanders noted. "The president has a great relationship with President Xi," Sanders said. "And we are working on something that we think will be great for everybody." US President Donald Trump had previously accused China of using unfair practices to get an unfair advantage over US exporters. The two countries have been busy threatening each other with trade tariffs on billions of dollars of goods. The ongoing trade spat between US and China can potentially fuel a trade war between the economic superpowers, something that can cause long-term damage to the global economy. (With inputs from AFP)

China Vice Premier to visit US for trade talks: White House

Big differences remain between China and the United States although the two sides managed to reach certain deals on some of their trade issues during the two-day bilateral trade talks in Beijing on Thursday and Friday.

No specific results of the talks have been disclosed, but Chinese Vice Premier Liu He, also a member of the Political Bureau of the Communist Party of China Central Committee, attended the talks with the US&nbsp;delegation led by President Donald Trump's Special Envoy and Treasury Secretary Steven Mnuchin, on economic and trade issues of common concern.

It's still unknown what deals have been reached, but both Chinese and US&nbsp;officials have agreed to remain in contact.

A report from Chinese news agency Xinhua on Friday said that "both sides recognized that given that considerable differences still exist on some issues, continued hard work is required for more progress."

As the US&nbsp;team heads back to Washington, US&nbsp;President Donald Trump sounded optimistic, saying: "I have great respect for President Xi. That's why we're being so nice. And we have a great relationship. But we have to bring fairness into trade between the US&nbsp;and China and we will do it."

The White House issued a statement, saying the talks were constructive, though the two sides remained far apart.

The US&nbsp;delegation affirmed that fair trade will lead to faster growth for the Chinese, United States, and world economies.

During the talks, Chinese negotiators brought up the recent case of telecommunication tech company ZTE. The US&nbsp;Commerce Department banned ZTE from buying American-made parts for seven years - a ruling that could destroy the company. US&nbsp;negotiators said they would report China's stance to Trump. Cases like ZTE and others are seen as tests of whether Washington is willing to make concessions as well as demands, according to some observers.

Both sides recognized that given that considerable differences still exist on some issues, continued hard work is required for more progress: Chinese media

Big differences remain between China and the United States although the two sides managed to reach certain deals on some of their trade issues during the two-day bilateral trade talks in Beijing on Thursday and Friday. No specific results of the talks have been disclosed, but Chinese Vice Premier Liu He, also a member of the Political Bureau of the Communist Party of China Central Committee, attended the talks with the US delegation led by President Donald Trump's Special Envoy and Treasury Secretary Steven Mnuchin, on economic and trade issues of common concern. It's still unknown what deals have been reached, but both Chinese and US officials have agreed to remain in contact. A report from Chinese news agency Xinhua on Friday said that "both sides recognized that given that considerable differences still exist on some issues, continued hard work is required for more progress." As the US team heads back to Washington, US President Donald Trump sounded optimistic, saying: "I have great respect for President Xi. That's why we're being so nice. And we have a great relationship. But we have to bring fairness into trade between the US and China and we will do it." The White House issued a statement, saying the talks were constructive, though the two sides remained far apart. The US delegation affirmed that fair trade will lead to faster growth for the Chinese, United States, and world economies. During the talks, Chinese negotiators brought up the recent case of telecommunication tech company ZTE. The US Commerce Department banned ZTE from buying American-made parts for seven years - a ruling that could destroy the company. US negotiators said they would report China's stance to Trump. Cases like ZTE and others are seen as tests of whether Washington is willing to make concessions as well as demands, according to some observers.

Big differences remain, but certain deals reached in China-US trade talks

US&nbsp;President Donald Trump on Thursday praised his relationship with Chinese President Xi Jinping as officials from the world's two largest economies began trade talks in Beijing, while state media said China would stand up to US&nbsp;bullying.

A breakthrough deal to fundamentally change China's economic policies is viewed as highly unlikely during the two days of talks, though a package of short-term Chinese measures could delay Washington's decision to impose tariffs on about $50 billion worth of Chinese exports.

The discussions, led by US&nbsp;Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, are expected to cover a wide range of US&nbsp;complaints about China's trade practices, from accusations of forced technology transfers to state subsidies for technology development.

"Thrilled to be here. Thank you," Mnuchin told Reuters at his hotel when asked if he expected progress. He made no other comments.

As Mnuchin arrived, Trump tweeted: "Our great financial team is in China trying to negotiate a level playing field on trade! I look forward to being with President Xi in the not too distant future. We will always have a good (great) relationship!"

It was not clear when Trump and Xi might meet again next, though both will likely attend some of the same multilateral summits this year, including those of the G20 and APEC.

Throughout his 2016 election campaign, Trump routinely threatened to impose a 45 percent across-the-board tariff on Chinese goods as a way to level the playing field for American workers. At the time, he was also accusing China of manipulating its currency to gain an export advantage, a claim that his administration has since dropped.

The US&nbsp;Embassy in Beijing said the US&nbsp;delegation planned to meet Chinese officials on both days, in addition to US&nbsp;Ambassador Terry Branstad, before leaving on Friday evening.

The delegation returned to their hotel late on Thursday evening without taking questions from reporters, though, when asked how the talks were going, one unidentified US&nbsp;official said "Well."

In Washington, the US-China Business Council, which represents American companies doing business in China, said it was pleased the two governments were talking and urged a deal to end forced technology transfers and improve China's intellectual property protections.

"USCBC believes it is unlikely that the issues will be fully resolved in this meeting, but we hope the two sides will be able to lay out a path for continued negotiations that will lead to a solution and avoid tariffs and other commerce-slowing sanctions," the group said in a statement.

Chinese Foreign Ministry spokeswoman Hua Chunying said at a briefing in Beijing: "The outcome should be mutually beneficial and win-win."

In a commentary widely cited in Chinese media on Thursday, the official Xinhua news agency said if things went poorly and a trade war did break out, China would never yield and would hit back strongly.

"China will inevitably suffer losses, but China has the political advantage of a centralised and unified leadership and support of a massive domestic market," it said.

The official China Daily said in an editorial that China would "stand up to the US' bullying as necessary."

"The US&nbsp;wants greater access to China's market, but it should not use trade actions as a battering ram to force China to open its doors. It is already in the process of opening them wider," the English-language newspaper said.

In doing so, China expected Washington to reciprocate and open its market to Chinese investment and competition, it said.

US&nbsp;tariffs ready in&nbsp;June

The first round of threatened tariffs under the US&nbsp;government's "Section 301" intellectual property probe focused heavily on technology products benefiting from a "Made in China 2025" programme to upgrade China's domestic manufacturing base with more advanced products.

The US&nbsp;tariffs could go into effect in June following the completion of a 60-day consultation period.

US-based trade experts said they expected Beijing to offer Trump's team a package of policy changes that may include some previously announced moves, such as a phase-out of joint venture requirements for some sectors, auto tariff reductions and increased purchases of US&nbsp;goods.

Trump has demanded a $100 billion annual reduction in the $375 billion US&nbsp;goods trade deficit with China.

But members of the diverse US&nbsp;trade delegation, which includes US&nbsp;Trade Representative Robert Lighthizer and White House trade adviser Peter Navarro, both of whom have been critical of China, are likely to have differing views on the merits of such an offer. 
&nbsp;

A breakthrough deal to fundamentally change China's economic policies is viewed as highly unlikely during the two days of talks

US President Donald Trump on Thursday praised his relationship with Chinese President Xi Jinping as officials from the world's two largest economies began trade talks in Beijing, while state media said China would stand up to US bullying. A breakthrough deal to fundamentally change China's economic policies is viewed as highly unlikely during the two days of talks, though a package of short-term Chinese measures could delay Washington's decision to impose tariffs on about $50 billion worth of Chinese exports. The discussions, led by US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, are expected to cover a wide range of US complaints about China's trade practices, from accusations of forced technology transfers to state subsidies for technology development. "Thrilled to be here. Thank you," Mnuchin told Reuters at his hotel when asked if he expected progress. He made no other comments. As Mnuchin arrived, Trump tweeted: "Our great financial team is in China trying to negotiate a level playing field on trade! I look forward to being with President Xi in the not too distant future. We will always have a good (great) relationship!" It was not clear when Trump and Xi might meet again next, though both will likely attend some of the same multilateral summits this year, including those of the G20 and APEC. Throughout his 2016 election campaign, Trump routinely threatened to impose a 45 percent across-the-board tariff on Chinese goods as a way to level the playing field for American workers. At the time, he was also accusing China of manipulating its currency to gain an export advantage, a claim that his administration has since dropped. The US Embassy in Beijing said the US delegation planned to meet Chinese officials on both days, in addition to US Ambassador Terry Branstad, before leaving on Friday evening. The delegation returned to their hotel late on Thursday evening without taking questions from reporters, though, when asked how the talks were going, one unidentified US official said "Well." In Washington, the US-China Business Council, which represents American companies doing business in China, said it was pleased the two governments were talking and urged a deal to end forced technology transfers and improve China's intellectual property protections. "USCBC believes it is unlikely that the issues will be fully resolved in this meeting, but we hope the two sides will be able to lay out a path for continued negotiations that will lead to a solution and avoid tariffs and other commerce-slowing sanctions," the group said in a statement. Chinese Foreign Ministry spokeswoman Hua Chunying said at a briefing in Beijing: "The outcome should be mutually beneficial and win-win." In a commentary widely cited in Chinese media on Thursday, the official Xinhua news agency said if things went poorly and a trade war did break out, China would never yield and would hit back strongly. "China will inevitably suffer losses, but China has the political advantage of a centralised and unified leadership and support of a massive domestic market," it said. The official China Daily said in an editorial that China would "stand up to the US' bullying as necessary." "The US wants greater access to China's market, but it should not use trade actions as a battering ram to force China to open its doors. It is already in the process of opening them wider," the English-language newspaper said. In doing so, China expected Washington to reciprocate and open its market to Chinese investment and competition, it said. US tariffs ready in June The first round of threatened tariffs under the US government's "Section 301" intellectual property probe focused heavily on technology products benefiting from a "Made in China 2025" programme to upgrade China's domestic manufacturing base with more advanced products. The US tariffs could go into effect in June following the completion of a 60-day consultation period. US-based trade experts said they expected Beijing to offer Trump's team a package of policy changes that may include some previously announced moves, such as a phase-out of joint venture requirements for some sectors, auto tariff reductions and increased purchases of US goods. Trump has demanded a $100 billion annual reduction in the $375 billion US goods trade deficit with China. But members of the diverse US trade delegation, which includes US Trade Representative Robert Lighthizer and White House trade adviser Peter Navarro, both of whom have been critical of China, are likely to have differing views on the merits of such an offer.

Trump praises China's Xi as trade talks begin in Beijing

A US&nbsptrade delegation arrived in China on Thursday for talks on tariffs, with state media saying China will stand up to US&nbspbullying if need be and hit back, but it was better to work things out at the negotiating table.

A breakthrough deal to fundamentally change China's economic policies is viewed as highly unlikely during the two-day visit, though a package of short-term Chinese measures could delay a US&nbspdecision to impose tariffs on about $50 billion worth of Chinese exports.

The discussions, led by US&nbspTreasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, are expected to cover a wide range of U.S. complaints about China's trade practices, from accusations of forced technology transfers to state subsidies for technology development.

"Thrilled to be here. Thank you," Mnuchin told&nbspupon arriving at his hotel, when asked if he expected progress. He made no other comments.

As Mnuchin arrived, US&nbspPresident Donald Trump tweeted: "Our great financial team is in China trying to negotiate a level playing field on trade! I look forward to being with President Xi in the not too distant future. We will always have a good (great) relationship!"

Throughout his 2016 election campaign, Trump routinely threatened to impose a 45 percent across-the-board tariff on Chinese goods as a way to level the playing field for American workers. At the time, he was also accusing China of manipulating its currency to gain an export advantage, a claim that his administration has since dropped.

The US&nbspEmbassy in Beijing said the delegation planned to meet Chinese officials on both days, in addition to US&nbspAmbassador Terry Branstad, before leaving on Friday evening.

Asked about the talks, Chinese foreign ministry spokeswomen Hua Chunying said they had just begun and she had no information.

She reiterated that China welcomed the talks but that they had to be founded on equality and mutual respect.

"The outcome should be mutually beneficial and win-win," Hua said, speaking at a regular briefing.

In a commentary widely cited in Chinese media on Thursday, the official Xinhua news agency said if things went poorly and a trade war did break out, China would never yield and would hit back strongly.

"China will inevitably suffer losses, but China has the political advantage of a centralised and unified leadership and support of a massive domestic market," it said.

The official China Daily said in an editorial China would "stand up to the U.S.' bullying as necessary".

"The US&nbspwants greater access to China's market, but it should not use trade actions as a battering ram to force China to open its doors. It is already in the process of opening them wider," the English-language newspaper said.

In doing so, China expected Washington to reciprocate and open its market to Chinese investment and competition, it said.

'NEGOTIATIONS ARE BEST'

Widely read Chinese tabloid the Global Times, published by the ruling Communist Party's People's Daily, said it hoped the talks were a beginning of a resolution of the dispute.

"Washington and Beijing should be clear: neither side can scare the other down. Negotiations are the best way to resolve the problem."

The first round of threatened tariffs under the US&nbspgovernment's "Section 301" intellectual property probe focused heavily on technology products benefiting from a "Made in China 2025" programme to upgrade China's domestic manufacturing base with more advanced products.

The US&nbsptariffs could go into effect in June following the completion of a 60-day consultation period.

China, which denies it coerces technology transfers, has threatened retaliation in equal measure, including tariffs on US&nbspsoybeans and aircraft.

US-based trade experts said they expected Beijing to offer Trump's team a package of policy changes that may include some previously announced moves, such as a phase-out of joint venture requirements for some sectors, autos tariff reductions and increased purchases of U.S. goods.

Trump has demanded a $100 billion annual reduction in the $375 billion U.S. goods trade deficit with China.

But the diverse US&nbsptrade delegation is likely to have differing views among its members on the merits of such an offer.

The group includes Commerce Secretary Wilbur Ross along with noted China hawks Robert Lighthizer, the U.S. trade representative, and White House trade and manufacturing adviser Peter Navarro.

"Thrilled to be here. Thank you," Mnuchin told upon arriving at his hotel, when asked if he expected progress.

A US&nbsptrade delegation arrived in China on Thursday for talks on tariffs, with state media saying China will stand up to US&nbspbullying if need be and hit back, but it was better to work things out at the negotiating table. A breakthrough deal to fundamentally change China's economic policies is viewed as highly unlikely during the two-day visit, though a package of short-term Chinese measures could delay a US&nbspdecision to impose tariffs on about $50 billion worth of Chinese exports. The discussions, led by US&nbspTreasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, are expected to cover a wide range of U.S. complaints about China's trade practices, from accusations of forced technology transfers to state subsidies for technology development. "Thrilled to be here. Thank you," Mnuchin told&nbspupon arriving at his hotel, when asked if he expected progress. He made no other comments. As Mnuchin arrived, US&nbspPresident Donald Trump tweeted: "Our great financial team is in China trying to negotiate a level playing field on trade! I look forward to being with President Xi in the not too distant future. We will always have a good (great) relationship!" Throughout his 2016 election campaign, Trump routinely threatened to impose a 45 percent across-the-board tariff on Chinese goods as a way to level the playing field for American workers. At the time, he was also accusing China of manipulating its currency to gain an export advantage, a claim that his administration has since dropped. The US&nbspEmbassy in Beijing said the delegation planned to meet Chinese officials on both days, in addition to US&nbspAmbassador Terry Branstad, before leaving on Friday evening. Asked about the talks, Chinese foreign ministry spokeswomen Hua Chunying said they had just begun and she had no information. She reiterated that China welcomed the talks but that they had to be founded on equality and mutual respect. "The outcome should be mutually beneficial and win-win," Hua said, speaking at a regular briefing. In a commentary widely cited in Chinese media on Thursday, the official Xinhua news agency said if things went poorly and a trade war did break out, China would never yield and would hit back strongly. "China will inevitably suffer losses, but China has the political advantage of a centralised and unified leadership and support of a massive domestic market," it said. The official China Daily said in an editorial China would "stand up to the U.S.' bullying as necessary". "The US&nbspwants greater access to China's market, but it should not use trade actions as a battering ram to force China to open its doors. It is already in the process of opening them wider," the English-language newspaper said. In doing so, China expected Washington to reciprocate and open its market to Chinese investment and competition, it said. 'NEGOTIATIONS ARE BEST' Widely read Chinese tabloid the Global Times, published by the ruling Communist Party's People's Daily, said it hoped the talks were a beginning of a resolution of the dispute. "Washington and Beijing should be clear: neither side can scare the other down. Negotiations are the best way to resolve the problem." The first round of threatened tariffs under the US&nbspgovernment's "Section 301" intellectual property probe focused heavily on technology products benefiting from a "Made in China 2025" programme to upgrade China's domestic manufacturing base with more advanced products. The US&nbsptariffs could go into effect in June following the completion of a 60-day consultation period. China, which denies it coerces technology transfers, has threatened retaliation in equal measure, including tariffs on US&nbspsoybeans and aircraft. US-based trade experts said they expected Beijing to offer Trump's team a package of policy changes that may include some previously announced moves, such as a phase-out of joint venture requirements for some sectors, autos tariff reductions and increased purchases of U.S. goods. Trump has demanded a $100 billion annual reduction in the $375 billion U.S. goods trade deficit with China. But the diverse US&nbsptrade delegation is likely to have differing views among its members on the merits of such an offer. The group includes Commerce Secretary Wilbur Ross along with noted China hawks Robert Lighthizer, the U.S. trade representative, and White House trade and manufacturing adviser Peter Navarro.

US trade team arrives in Beijing for talks, China media cautious

The Trump administration will have a "frank discussion" with the Chinese leadership on a series of trade issues, according to US Treasury Secretary Steven Mnuchin who is leading a high-powered trade delegation to Beijing later this week.

"We're looking to have a very frank discussion on trade, on the issues of the trade imbalance. President (Donald) Trump has been very clear for the last year that he's very focused on the trade deficit and we're looking to correct that," Mnuchin told Fox News in an interview today.

Mnuchin would be accompanied by Commerce Secretary Wilbur Ross and US Trade Representative Robert Lighthizer. Trump's top advisers on trade and economic policies Larry Kudlow and Peter Navarro would also be part of the US delegation, the White House said.

In the last one month, Trump has taken a series of measures to address the challenge of massive $500 billion trade deficit with China. Prominent among them being increasing import duties on steel and aluminium and proposing to do the same with several hundred other Chinese items.

China too has responded by retaliatory actions. Trump has said that such a huge trade deficit with China is not acceptable to his administration.

"We are definitely going to be talking to them about intellectual property rights, about forged technology, forged joined ventures, those are all important issues that are on our list," Mnuchin said, adding that he is cautiously optimistic about the meetings.

Ahead of the US trade delegation visit to China, the Alliance for American Manufacturing said that bilateral meetings with Chinese government officials present an opportunity to affect meaningful change in the United States' lopsided trade relationship with that country, but "results-oriented," enforceable commitments must be their goal.

"Withdrawing the threat of tariffs without achieving meaningful results would be tantamount to waving the white flag of trade surrender signalling to China and other trade cheats that there will be no consequences for predatory trade behaviours," its president Scott N Paul, wrote in a letter addressed to Mnuchin, Navarro, Lighthizer, and Kudlow.

"If a negotiated solution with specific disciplines and automatic enforcement provisions can be agreed to, then, and only then, should we look at lifting tariffs. Otherwise, as I believe you know, we would be abandoning the best leverage we've had in years," he said.

Paul alleged that China is not holding up its end of the bargain, at the World Trade Organization or via its bilateral relationships and kicking the can further down the road is simply not a smart trade policy strategy.

"The past 20 years of seemingly endless dialogue with China show that polite requests to curtail state-driven industrial overcapacity or to refrain from forced technology transfers and joint ownership partnerships in exchange for market access do not yield meaningful results," he said.

In the letter, the alliance strongly urged against any rush to make trade concessions to China in exchange for promises of reforms.

"Any deal with China must be comprehensive, binding, enforceable, and backed by strong penalties if Beijing fails to live up to its words as has repeatedly been the case under previous administrations of both political parties," Paul said.

Trump has said that huge trade deficit with China is not acceptable to his administration.

The Trump administration will have a "frank discussion" with the Chinese leadership on a series of trade issues, according to US Treasury Secretary Steven Mnuchin who is leading a high-powered trade delegation to Beijing later this week. "We're looking to have a very frank discussion on trade, on the issues of the trade imbalance. President (Donald) Trump has been very clear for the last year that he's very focused on the trade deficit and we're looking to correct that," Mnuchin told Fox News in an interview today. Mnuchin would be accompanied by Commerce Secretary Wilbur Ross and US Trade Representative Robert Lighthizer. Trump's top advisers on trade and economic policies Larry Kudlow and Peter Navarro would also be part of the US delegation, the White House said. In the last one month, Trump has taken a series of measures to address the challenge of massive $500 billion trade deficit with China. Prominent among them being increasing import duties on steel and aluminium and proposing to do the same with several hundred other Chinese items. China too has responded by retaliatory actions. Trump has said that such a huge trade deficit with China is not acceptable to his administration. "We are definitely going to be talking to them about intellectual property rights, about forged technology, forged joined ventures, those are all important issues that are on our list," Mnuchin said, adding that he is cautiously optimistic about the meetings. Ahead of the US trade delegation visit to China, the Alliance for American Manufacturing said that bilateral meetings with Chinese government officials present an opportunity to affect meaningful change in the United States' lopsided trade relationship with that country, but "results-oriented," enforceable commitments must be their goal. "Withdrawing the threat of tariffs without achieving meaningful results would be tantamount to waving the white flag of trade surrender signalling to China and other trade cheats that there will be no consequences for predatory trade behaviours," its president Scott N Paul, wrote in a letter addressed to Mnuchin, Navarro, Lighthizer, and Kudlow. "If a negotiated solution with specific disciplines and automatic enforcement provisions can be agreed to, then, and only then, should we look at lifting tariffs. Otherwise, as I believe you know, we would be abandoning the best leverage we've had in years," he said. Paul alleged that China is not holding up its end of the bargain, at the World Trade Organization or via its bilateral relationships and kicking the can further down the road is simply not a smart trade policy strategy. "The past 20 years of seemingly endless dialogue with China show that polite requests to curtail state-driven industrial overcapacity or to refrain from forced technology transfers and joint ownership partnerships in exchange for market access do not yield meaningful results," he said. In the letter, the alliance strongly urged against any rush to make trade concessions to China in exchange for promises of reforms. "Any deal with China must be comprehensive, binding, enforceable, and backed by strong penalties if Beijing fails to live up to its words as has repeatedly been the case under previous administrations of both political parties," Paul said.

Looking to have frank discussion on trade with China: US

China warned on Monday that trade talks with the United States were "impossible" under current conditions after President Donald Trump reassured markets by suggesting that the dispute could be resolved.

The two sides have announced tit-for-tat tariffs and threatened to hit each other with more duties, raising the prospect of a trade war that could rattle the global economy.

Asian markets rose on Monday after Trump tweeted that he saw an end to the escalating dispute before the higher tariffs threatened on hundreds of billions of goods would come into effect.

But China's foreign ministry was less sanguine.

"Up to now, Chinese and US officials have not held any negotiations on the trade dispute," foreign ministry spokesman Geng Shuang told reporters during a regular press briefing.

"Under the current conditions, it is impossible for the two sides to have any negotiations on this issue," Geng added.

A few hours later, Trump returned to tougher talk with an early-morning tweet railing against China's duties on US cars.

"When a car is sent to the United States from China, there is a Tariff to be paid of 2 1/2%. When a car is sent to China from the United States, there is a Tariff to be paid of 25%," Trump tweeted.

"Does that sound like free or fair trade. No, it sounds like STUPID TRADE -- going on for years!"

Trump had sounded an optimistic tone on Sunday, playing up his personal relationship with Chinese President Xi Jinping.

"President Xi and I will always be friends," Trump tweeted.

"China will take down its trade barriers because it is the right thing to do."

Trump had tweeted Monday that he saw an end to the escalating dispute

China warned on Monday that trade talks with the United States were "impossible" under current conditions after President Donald Trump reassured markets by suggesting that the dispute could be resolved. The two sides have announced tit-for-tat tariffs and threatened to hit each other with more duties, raising the prospect of a trade war that could rattle the global economy. Asian markets rose on Monday after Trump tweeted that he saw an end to the escalating dispute before the higher tariffs threatened on hundreds of billions of goods would come into effect. But China's foreign ministry was less sanguine. "Up to now, Chinese and US officials have not held any negotiations on the trade dispute," foreign ministry spokesman Geng Shuang told reporters during a regular press briefing. "Under the current conditions, it is impossible for the two sides to have any negotiations on this issue," Geng added. A few hours later, Trump returned to tougher talk with an early-morning tweet railing against China's duties on US cars. "When a car is sent to the United States from China, there is a Tariff to be paid of 2 1/2%. When a car is sent to China from the United States, there is a Tariff to be paid of 25%," Trump tweeted. "Does that sound like free or fair trade. No, it sounds like STUPID TRADE -- going on for years!" Trump had sounded an optimistic tone on Sunday, playing up his personal relationship with Chinese President Xi Jinping. "President Xi and I will always be friends," Trump tweeted. "China will take down its trade barriers because it is the right thing to do."

China says US trade talks currently 'impossible'

The United States on Monday launched the first salvo in the renegotiation of the 23-year-old North American Free Trade Agreement (NAFTA), saying its top priority for the talks was shrinking the US&nbsp;trade deficit with Canada and Mexico.

In a much-anticipated document sent to lawmakers, US Trade Representative Robert Lighthizer said he would seek to reduce the trade imbalance by improving access for US&nbsp;goods exported to Canada and Mexico under the three-nation pact.

For the first time in a US&nbsp;trade deal, the administration also said it wants an &quot;appropriate&quot; provision to deter currency manipulation by trading partners. The move appeared aimed at future trade deals rather than specifically at Canada and Mexico, which are not considered currency manipulators.

The 17-page document asserted that no country should manipulate its currency exchange rate to gain an unfair competitive advantage, an often-cited complaint about China in past years.

Shortly before the release of the document, President Donald Trump lashed out against trade deals and unfair trade practices, saying he would take more legal and regulatory steps during the next six months to protect American manufacturers.

Canadian Minister of Foreign Affairs Chrystia Freeland said the US&nbsp;list was &quot;part of its internal process&quot; although a source familiar with the Canadian government&#39;s thinking said the document was &quot;not earth shattering.&quot;

The source said officials from the United States, Mexico and Canada would meet in Washington on Tuesday to discuss logistics of the talks. No date has been announced for the NAFTA talks, but they are expected in mid-August.

Mexico&#39;s economy ministry said in a statement it would work &quot;to achieve a constructive negotiation process that will allow trade and investment flows to increase and consolidates cooperation and economic integration to strengthen North American competitiveness&quot;.

Speaking on condition of anonymity, a senior Mexican government official said the list of priorities was &quot;not as bad as I was expecting&quot; and welcomed that the United States was not pushing to impose punitive tariffs, as Trump has threatened.

Trade experts have argued that shrinking the yawning US&nbsp;trade deficit will not be achieved through trade deals but rather by boosting US&nbsp;savings.

&quot;The first bullet point shows their preoccupation with bilateral trade deficits and that&#39;s unfortunate,&quot; said Chad Bown, a senior fellow and trade expert at the Peterson Institute for International Economics. &quot;There&#39;s not much that trade policy and trade agreements can do to change those. That&#39;s more of a macroeconomic issue.&quot;

Among the priorities, Lighthizer said the administration would seek to eliminate a trade dispute mechanism that has largely prohibited the United States from pursuing anti-dumping and anti-subsidy cases against Canadian and Mexican firms.

There was no mention of active disputes between the United States and Canada over softwood lumber and dairy products, but the document targeted a range of agricultural non-tariff barriers, including subsidies and unfair pricing structures, that are currently at the heart of those standoffs.

USTR said it would seek to strengthen NAFTA&#39;s rules of origin to ensure that the pact&#39;s benefits do not go to outside countries and to &quot;incentivize&quot; the sourcing of US&nbsp;goods. It offered no details on such incentives and did not specify how much of a product&#39;s components must originate from NAFTA countries.

&nbsp;

AUTOMAKERS SUPPORT STANCE

Matt Blunt, president of the American Automotive Policy Council, a group representing US&nbsp;automakers, welcomed the decision to include objectives on the removal of regulatory barriers and the provision on currency manipulation.

A spokesman for Ford Motor Co said: &quot;Foreign currency manipulation is the 21st century trade barrier, and we strongly support the inclusion of this top-tier issue in the US&nbsp;negotiating objectives for NAFTA.&quot;

The document also outlined plans to upgrade standards for labor and the environment and govern digital trade. Canada and Mexico have already agreed to upgrade these areas as part of the defunct Trans-Pacific Partnership trade deal.

Earlier on Monday, AFL-CIO President Richard Trumka said NAFTA had been an &quot;unequivocal failure&quot; and should be completely renegotiated although he stopped short of calling on Trump to abandon the agreement if there was no agreement.

&quot;We will do everything we can to make this a good agreement and to hold the president at his word and make sure we get a renegotiation,&quot; the head of the 12.5-million-strong union umbrella group told a conference call with reporters.

&quot;If it comes out that it is not a good deal, no deal is better than a bad deal,&quot; Trumka said.

NAFTA has quadrupled trade among the three countries, surpassing $1 trillion in 2015, but the US&nbsp;trade deficit with Mexico exceeded $63 billion last year.

For the first time in a US?trade deal, the Trump administration also said it wants to deter trade partners from currency manipulation

The United States on Monday launched the first salvo in the renegotiation of the 23-year-old North American Free Trade Agreement (NAFTA), saying its top priority for the talks was shrinking the US trade deficit with Canada and Mexico. In a much-anticipated document sent to lawmakers, US Trade Representative Robert Lighthizer said he would seek to reduce the trade imbalance by improving access for US goods exported to Canada and Mexico under the three-nation pact. For the first time in a US trade deal, the administration also said it wants an "appropriate" provision to deter currency manipulation by trading partners. The move appeared aimed at future trade deals rather than specifically at Canada and Mexico, which are not considered currency manipulators. The 17-page document asserted that no country should manipulate its currency exchange rate to gain an unfair competitive advantage, an often-cited complaint about China in past years. Shortly before the release of the document, President Donald Trump lashed out against trade deals and unfair trade practices, saying he would take more legal and regulatory steps during the next six months to protect American manufacturers. Canadian Minister of Foreign Affairs Chrystia Freeland said the US list was "part of its internal process" although a source familiar with the Canadian government's thinking said the document was "not earth shattering." The source said officials from the United States, Mexico and Canada would meet in Washington on Tuesday to discuss logistics of the talks. No date has been announced for the NAFTA talks, but they are expected in mid-August. Mexico's economy ministry said in a statement it would work "to achieve a constructive negotiation process that will allow trade and investment flows to increase and consolidates cooperation and economic integration to strengthen North American competitiveness". Speaking on condition of anonymity, a senior Mexican government official said the list of priorities was "not as bad as I was expecting" and welcomed that the United States was not pushing to impose punitive tariffs, as Trump has threatened. Trade experts have argued that shrinking the yawning US trade deficit will not be achieved through trade deals but rather by boosting US savings. "The first bullet point shows their preoccupation with bilateral trade deficits and that's unfortunate," said Chad Bown, a senior fellow and trade expert at the Peterson Institute for International Economics. "There's not much that trade policy and trade agreements can do to change those. That's more of a macroeconomic issue." Among the priorities, Lighthizer said the administration would seek to eliminate a trade dispute mechanism that has largely prohibited the United States from pursuing anti-dumping and anti-subsidy cases against Canadian and Mexican firms. There was no mention of active disputes between the United States and Canada over softwood lumber and dairy products, but the document targeted a range of agricultural non-tariff barriers, including subsidies and unfair pricing structures, that are currently at the heart of those standoffs. USTR said it would seek to strengthen NAFTA's rules of origin to ensure that the pact's benefits do not go to outside countries and to "incentivize" the sourcing of US goods. It offered no details on such incentives and did not specify how much of a product's components must originate from NAFTA countries. AUTOMAKERS SUPPORT STANCE Matt Blunt, president of the American Automotive Policy Council, a group representing US automakers, welcomed the decision to include objectives on the removal of regulatory barriers and the provision on currency manipulation. A spokesman for Ford Motor Co said: "Foreign currency manipulation is the 21st century trade barrier, and we strongly support the inclusion of this top-tier issue in the US negotiating objectives for NAFTA." The document also outlined plans to upgrade standards for labor and the environment and govern digital trade. Canada and Mexico have already agreed to upgrade these areas as part of the defunct Trans-Pacific Partnership trade deal. Earlier on Monday, AFL-CIO President Richard Trumka said NAFTA had been an "unequivocal failure" and should be completely renegotiated although he stopped short of calling on Trump to abandon the agreement if there was no agreement. "We will do everything we can to make this a good agreement and to hold the president at his word and make sure we get a renegotiation," the head of the 12.5-million-strong union umbrella group told a conference call with reporters. "If it comes out that it is not a good deal, no deal is better than a bad deal," Trumka said. NAFTA has quadrupled trade among the three countries, surpassing $1 trillion in 2015, but the US trade deficit with Mexico exceeded $63 billion last year.

US makes lower trade deficit top priority in NAFTA talks

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