US-China trade talks at a higher level start in Beijing as March deadline looms
THE US-China trade talks in Beijing have moved to a higher level in a push to de-escalate a tariff war ahead of a March 1 deadline for a deal
THE US-China trade talks in Beijing have moved to a higher level in a push to de-escalate a tariff war ahead of a March 1 deadline for a deal.
US Treasury Secretary Steven Mnuchin said he was looking forward to trade talks with China without elaborating to reporters as he left his hotel.
He and US Trade Representative Robert Lighthizer opened the meetings shortly afterward at the Diaoyutai state guest house with Chinese Vice Premier Liu He, the top economic adviser to Chinese President Xi Jinping.
US tariffs on $200 billion worth of imports from China are scheduled to rise to 25 per cent from 10 per cent if the two sides don't reach a deal by the deadline, increasing pressure and costs in sectors from consumer electronics to agriculture.
US President Donald Trump told reporters on Wednesday that the negotiations had been progressing 'very well'.
Mr Trump has said he did not expect to meet Mr Xi prior to March 1, but White House Press Secretary Sarah Sanders has raised the possibility of a meeting between the leaders at the president's personal retreat at Mar-a-Lago in Florida.
US Department of Agriculture Deputy Secretary Stephen Censky said on Wednesday that the two presidents were expected to meet 'sometime in March', but no dates were set.
The Chinese government has offered few details about the state of negotiations this week, reports CNBC.