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China trade talks going well, will meet Xi in near future

China trade talks going well, will meet Xi in near future

The talks were aimed at resolving deep differences over China's intellectual property practices.

Trump is expected to meet Chinese Vice Premier Liu He at the White House later on Thursday.

If the two sides can not reach an agreement by 1 March, the USA has said it will increase the tariff rate from 10% to 25% on Chinese goods worth an estimated $200bn. All of the many problems are being discussed and will be hopefully resolved.

In a sign that Beijing is serious about addressing USA complaints, Chinese lawmakers this week completed a second review of a new law that is aimed at protecting the IP of foreign investors and banning forced technology transfers.

But the likelihood of reaching a deal before the March 1 deadline set by Trump for the imposition of higher tariffs on Chinese imports is slim.

"China's representatives and I are trying to do a complete deal, leaving NOTHING unresolved on the table", Trump wrote.

Trump stated in a tweet that he wanted Beijing open the Chinese markets not only to financial services but also to "Manufacturing, Farmers and other United States businesses and industries". "Any deal that does not include China opening its markets for manufacturing and agricultural products to USA producers will be" unacceptable", the president wrote. China's economy was slowing even before the USA tariffs began depressing demand for its exports, so the trade war is making a hard situation worse for Xi.

The White House announced earlier this month that Trump plans to meet in late February with North Korean leader Kim Jong Un. Asked how the talks were going, Yi flashed a thumbs-up sign.

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Mr Trump has long blamed China's rise as an exporter for a loss of manufacturing and other jobs in the US.

Mr. Trump has threatened to tax every good imported from China unless an agreement can be reached, amounting to an additional more than $250 billion. Since then, the two countries have exchanged several rounds of trade tariffs, levying duties on hundreds of billions of dollars of goods. "Rob the American company of its intellectual property, replicate that technology and replace the American company in the Chinese market and, one day, in the global market".

They have emphasized steps already taken, including reduced automotive tariffs and a draft foreign investment law that improves access for foreign firms and promises to outlaw "administrative means to force the transfer of technology".

Among the priorities in the current talks are protection of U.S. intellectual property, the forced transfer of USA technology through joint ventures, and enforcement mechanisms to verify that China follows through on any promised changes.

"China posts slowest economic numbers since 1990 due to USA trade tensions and new policies", Trump said Jan 21.

Meng was arrested in Canada on December 1 at the request of the United States, which is seeking her extradition.

According to a person familiar with the meeting agenda, Lighthizer and Treasury Secretary Steven Mnuchin were scheduled to give opening remarks at the talks Wednesday morning.

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