US official Lighthizer arrives in Beijing ahead of trade talks

Dovish Central Bank Outlooks Make U.S. Dollar More Desirable Asset

The dispute has escalated to encompass $360 billion in trade between the two economic superpowers, and without an agreement by the start of March, the Trump administration is poised to more than double the punitive duties on $200 billion in Chinese goods.

"If we're close to a deal where we think we can make a real deal and it's going to get done, I could see myself letting that slide for a little while", Trump said of the deadline at a White House cabinet meeting. And President Donald Trump's aggressive strategy has failed to produce a reduction in the United States trade deficit with China, which he set as a primary goal. While those purchases will provide relief to USA farmers, there has been no breakthrough on the structural issues separating the two nations, such as industrial policy, government subsidies, protection of intellectual property or forced transfers of technology.

Members of a USA trade delegation including deputy USA trade representative Jeffrey Gerrish left a Beijing hotel on Tuesday (Feb 12) on their way to the second day of talks with Chinese officials.

The next leg of trade talk is due to resume in Beijing on Monday, the 11th of February, which will also be followed by a high-level talk between February 14th and 15th.

Mid-level officials began discussions Monday in preparation for two days of talks starting Thursday involving U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. A round of talks at the end of January ended with some progress reported, but no deal and US declarations that much more work was needed. Washington is demanding far-reaching changes from China to address unfair practices it says are deeply unfair, including theft of American intellectual property and the massive Chinese trade surplus.

U.S. President Donald Trump signaled Tuesday he is open to postponing a trade deadline with China if negotiators make sufficient progress on a deal.

US negotiators will likely continue to urge China to make structural reforms and end what the USA claims to be unfair trade practices.

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