A high-profile delegation from the U.S. is expected to arrive next week in Beijing, to continue trade negotiations with the Asian country. US Trade Representative, Robert Lighthizer along with Treasury Secretary Steven Mnuchin is preparing to meet the Vice Premier of China Liu He in Beijing for talks that will begin on April 30. Following this meeting, Liu is scheduled to travel to Washington leading a delegation there for further talks set to begin on May 8, 2019.
The two biggest economies of the world have been ensnared in a trade war almost since a year, alarming world markets not to mention hurting global growth. The Trump government laid levies on Chinese goods worth $250 billion and China reciprocated by imposing its own charges on $110 billion of US goods.
There have been several meetings between the two countries in an attempt to strike a win-win deal to end this long-drawn trade war. So far, the focus of these talks has been issues that include forced transfer of technology along with structural reforms. Washington had even accused Beijing of theft of intellectual property, but China remains in outright denial.
Early this month, China’s state news agent Xinhua published an article that the U.S. and China had reached a consensus on their trade agreement. The article stated that, conveying a message by Liu, President Xi Jinping informed President Donald Trump that both parties had made substantial progress on significant trade issues in the last month.
The Press Secretary of U.S., Sarah Huckabee Sanders released a statement with details of the dignitaries attending the talks scheduled for April 30, and set the date for further negotiations as May 8. The subjects for next week’s trade-related talks will primarily include intellectual property, non-tariff measures, and forced transfer of technology, services, agriculture, purchases and enforcement, among others.