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

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

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

Beijing is bracing for lengthy sparring with Washington, though Chinese officials said that in recent weeks they had tried to get the relationship with the US back on track, pointing to a recent acceleration of plans to give foreign investors greater access to the financial-services and auto sectors.

The group also includes Commerce Secretary Wilbur Ross, Lighthizer, a hard-line and experienced trade negotiator, and White House trade and manufacturing adviser, Peter Navarro, a noted China trade hawk. Mr. Liu, an economist by training, is a close adviser and longtime friend of President Xi Jinping.

He added: "Our great financial team is in China trying to negotiate a level playing field on trade!"

US President Trump announced the meeting on Twitter, saying China's president Xi Jinping and he "will always have a good (great) relationship".

Trump is seeking to cut the American trade deficit with China - totaling $375 billion (€313 billion) previous year - by $100 billion and gain concessions over policies that force foreign companies to share technology with Chinese partners.

US-based trade experts have 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. "It is already in the process of opening them wider", Xinhua, the English-language newspaper said.

US government numbers released Thursday showed the USA trade deficit with China fell 11.6 percent in March to $26 billion. "The ball is firmly in the US' court, since they started this".

But it said "big differences" remain on some matters.

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The dispute has deepened as China has stepped up efforts to overtake western industry leaders in advanced technologies, especially for semiconductors, the silicon brains required to run smartphones, connected cars, cloud computing and artificial intelligence. The plan mostly involves subsidizing Chinese firms, but also requires foreign companies to share their technologies with Chinese partners.

For some Chinese officials, Trump's demands are also an indication of U.S. unease about China's rise as an economic and military power, which has grown amid Beijing's recently announced strategy to overtake western industry leaders in advanced technologies. It is less likely to be an area where Beijing would cede ground to placate US negotiators.

"I don't think there are a lot of illusions in America that you can make China change", McGregor said, noting the "Made in China 2025" plan to upgrade domestic manufacturing, viewed with suspicion overseas as an import substitution scheme, is a key initiative rolled out under Xi. -China free-trade deal, but nothing remotely as broad-based as what the U.S.is seeking.

Both sides have shown a diversity of opinions, with China recently moving to loosen a restriction on foreign ownership of automakers to minority stakes.

Drawing on Chinese and USA sources, the study said other sectors thought to have overcapacity included glass, shipbuilding, base metals, paper, chemicals, batteries and footwear.

Chinese media warned against US bullying as a delegation of Trump administration officials arrived in Beijing for a summit on U.S.

USA moves against Chinese smartphone makers Huawei and ZTE, and Beijing's decision to tax American sorghum have ratcheted up the tensions.

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