Mnuchin hopes for 'productive' trade meetings in China

Mnuchin hopes for 'productive' trade meetings in China

His remarks came as the world's two biggest economies are holding talks to resolve their trade war.

In December, Washington suspended for three months its plan to increase tariffs on $200 billion worth of Chinese imports - to 25 percent from the current 10 percent - to allow time for negotiators to work out a trade spat that has triggered fears of a global economic slowdown.

With a March 1 deadline fast approaching, United States and Chinese officials resume negotiations next week to prevent escalation of a trade dispute that has major implications for the global economy.

"We're doing very well over in China", Trump added.

Those tariffs now stand at 10 percent, but an additional $50 billion worth of imports has already been hit by a 25 percent tariff.

A growing number of US businesses and lawmakers have expressed hopes for a delay in the tariff increase while the two sides tackle the hard USA demands for major "structural" policy changes by China aimed at ending the forced transfer of American trade secrets, curbing Beijing's industrial subsidies and enforcing intellectual property rights.

Steelers WR Brown requests trade
Brown has been the subject of widespread trade speculation after he failed to show up to work the day before the season finale. Hall of Fame wide receiver Jerry Rice, who has kept in contact with Brown, has said Brown wants to join the 49ers.

Talks kicked off in Beijing with discussions among deputy-level officials on Monday before minister-level meetings later in the week.

The South China Morning Post (SCMP) reports the latest comments from unnamed sources, as they cite that the Chinese President Xi Jinping will meet with the US Trade Representative Lighthizer and US Treasury Secretary Mnuchin on Friday.

U.S. officials previously said 1 March was a hard deadline for achieving a deal to avert further tariffs.

Lighthizer, who arrived at the hotel earlier in the day, did not answer reporters' questions. A round of talks at the end of January ended with some progress reported - but no deal and U.S. declarations that much more work was needed.

US campaign against Huawei faces challenge in Eastern Europe / WSJ (paywall)"In the Czech Republic, officials have taken opposite sides on how to balance security concerns raised by the USA, and the country's own cybersecurity officials, with the desire for Chinese investment, trade and business opportunities".

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