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China Trade War: Two Nations to Hold Key Trade Talks This Week

17 May 2018

US lawmakers pressed Chinese President Xi Jinping's top economic adviser to stop unfair trading practices as the nations try to pull back from the brink of a trade conflict.

Representative Kevin Brady, the committee's Republican chairman, said he urged Liu to keep working with the administration toward a solution.

Navarro also "blew up" at Treasury Secretary Steven Mnuchin during a trip to China according to news website Axios. Asked if the Trump administration will move forward with proposed levies on Chinese goods, Hatch said "I think they will go into effect".

"China has seen our demands".

Bloomberg reported that Peter Navarro, President Donald Trump's hardline anti-China trade adviser, has behaved "erratically and unprofessionally" and was unhelpful during a recent trade trip to Beijing.

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"Nothing has happened with ZTE except as it pertains to the larger trade deal", Trump wrote on Twitter. I worry that the US government could make a wrong step and lose its opportunity in the huge Chinese market.

Trump's reversal was condemned by both Republican and Democratic lawmakers, and raised questions about whether the president was softening his approach in trade negotiations with China. If China retaliates with a 25 percent tariff on United States dollars 50 billion of USA exports, it would lose a major fraction of that volume but not all.

Brady and Hatch said the issue of ZTE didn't come up during Liu's meetings with lawmakers.

Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross and US Trade Representative (USTR) Robert Lighthizer will lead the American delegation in talks with Chinese Vice Premier Liu He in Washington, according to the report.

The Top US and Chinese officials will meet here this week for the next round of high-level trade talks aimed at "re-balancing" the bilateral economic relationship and end the tariff spat between the world's two largest economies, the White House has said. While not listed in the White House release in this week's talks in DC, Kudlow and Navarro are expected to attend all or some of the meetings.

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Mnuchin and other senior administration officials have been in direct discussions with the Chinese.

The United States and China launch trade talks on Thursday in a bid to avert a damaging tariff war, with the White House's harshest China critic relegated to a supporting role, senior Trump administration officials said on Wednesday.

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

The Trump administration has threatened to impose tariffs on up to $150 billion in Chinese imports to punish Beijing over trade practices requiring American companies to hand over technology in exchange for access to the Chinese market. "China has seen our demands".

In 2017, China had a $275 billion trade surplus with the U.S. Tensions between the two nations have increased as Trump imposed tariffs on $50 billion worth of Chinese goods, and the Chinese retaliated with tariffs of their own.

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China Trade War: Two Nations to Hold Key Trade Talks This Week