United States sends 70 questions to WTO about China's subsidies

Hopes riding high on U.S.-China trade talks but reality paints a dimmer outlook

WASHINGTON, DC, USA - President Donald Trump on Wednesday, January 30, touted the chances of success as US-China trade negotiations entered a second day, saying Beijing was eager to make a deal.

This is the second round of talks since Presidents Donald Trump and Xi Jinping met in Argentina previous year and agreed to negotiate in the hope of defusing an escalating tariff war.

Trump's comments Thursday - including that an agreement has a "very good chance of happening" - were the clearest articulation he has given so far of his desire to resolve his trade war with China.

"Our sense from our discussions last week in China is that China is struggling to come up with anything on the technology transfer side, and from our standpoint that's problematic", Myron Brilliant, the chamber's head of worldwide affairs, said.

Trump said China wanted to strike a deal by March 1 to avoid the tariff increase and said he thinks he can get one, but it may not be totally fleshed out in writing by then.

Trump said he was looking for China to open its markets "not only to Financial Services, which they are now doing, but also to our Manufacturing, Farmers and other US 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.

The core of the United States allegations against China is that Beijing systematically steals trade secrets, forces foreign companies to hand over technology as the price of access to the Chinese market and subsidises its own tech companies.

On Monday, the US Justice Department announced two indictments against Huawei, accusing the firm of stealing trade secrets, fraud and obstruction of justice.

The statement of the US President comes following meetings between the American and Chinese officials, which are a part of the agreement reached by Trump and Chinese President Xi Jinping in Buenos Aires on 1 December 2018. Treasury Secretary Steven Mnuchin declared the trade war "on hold" after China had agreed to step up its purchases of US goods, especially in agriculture and energy, and narrow America's huge trade deficit with China.

The talks have taken place against the backdrop of Chinese telecom Huawei's prosecution by Washington, which has sparked outrage in China and threatened the negotiation process.

WASHINGTON-High-stakes trade talks between the United States and China started January 30 in Washington in a bid to resolve differences and reach an agreement before the March deadline. Liu is expected to meet Trump on Thursday, US time. The White House also plans to hike tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent.

"The US has a great interest in enormously increasing American exports to China".

The Chinese trade delegation began two days of negotiations with US counterparts Wednesday.

Chinese officials have said their policies do not coerce technology transfers.

A crucial component of any progress in the talks, according to US officials, is agreement on a mechanism to verify and enforce China's follow-through on any reform pledges. Instead, the pressure would be on the U.S.to reduce tariffs.

But the impact of Trump's trade policy is also being felt by the US. "Those are separate issues", Treasury Secretary Steve Mnuchin told U.S. media ahead of the talks.

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