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U.S., China haggle over toughest issues in trade war talks

U.S., China haggle over toughest issues in trade war talks

Trump said on Friday the biggest decisions could be agreed upon when he meets with Xi, probably in Florida next month, and that their talks may extend beyond trade to encompass Chinese telecommunications companies Huawei Technologies and ZTE Corp.

Earlier, media reported that USA and Chinese officials are discussing late March a summit between President Donald Trump and his Chinese counterpart Xi Jinping. Chinese vice premier Liu said: "From China, we believe that it is very likely that it will happen, and we hope that ultimately we'll have a deal".

The U.S. has slapped 25 percent tariffs on $50 billion in Chinese imports and 10 percent tariffs on $200 billion worth; the tariffs on the $200 billion are scheduled to rise to 25 percent if there's no deal.

The two countries imposed more than $360 billion in tariffs in two-way trade previous year, after Trump triggered the trade dispute over complaints of unfair trade practices.

The two sides have been holding rounds of talks in Washington and Beijing in recent weeks to forge a deal envisioned by Trump and Xi during a December 1 dinner in Buenos Aires.

The president again said he is open to extending that deadline.

An agreement on currency manipulation will be included in the trade pact, he said. Without an extension of the trade truce past March 1, it remains uncertain whether the US will go ahead with plans to raise tariffs on $200 billion in Chinese imports to 25 percent from 10 percent.

U.S. President Donald Trump will meet with Liu at the Oval Office on Friday, the White House said late on Thursday.

President Donald Trump said Thursday American firms should "step up their efforts" on 5G - superfast fifth-generation wireless networks - while suggesting he was not prepared to block foreign firms from the U.S. market for the key technology.

Graham says all the USA wants is for China to play by the WTO rules as a developed nation.

Reuters reported exclusively on Wednesday that the two sides are starting to sketch out an agreement on structural issues, drafting language for six memorandums of understanding on proposed Chinese reforms.

During a meeting with the USA delegation last week, the Chinese president once again highlighted the role of cooperation in resolving the economic and trade differences and frictions, and urged negotiators of the two sides to "make persistent efforts" to reach a mutually beneficial deal.

They are both blunt-speaking, and share a common narrative about who the villains are in the de-industrialization of the U.S. Mr. Trump's lament in his 2017 inaugural address for the "rusted-out factories scattered like tombstones across the landscape of our nation" likely struck a chord with Mr. Lighthizer, who grew up in Ashtabula, Ohio, a faded Rust Belt town on Lake Erie.

Asked if China's 5G technology leader Huawei is included in the companies, Trump said, "I'm talking about everybody, really, (Huawei) included".

The US Chamber of Commerce urged the US government to ensure that the deal would be comprehensive, addressing core issues, rather than based on more Chinese short-term purchases of goods.

Additional tariffs Trump has threatened to impose could take effect if a trade deal is not reached before the beginning of March.

Chinese Vice Premier Liu He, who leads Beijing's team, met this week with Lighthizer and his 11-man USA delegation in two days of talks at the Eisenhower Executive Office Building.

The high-level talks come after the latest round of negotiations in Beijing last week ended inconclusively.

The current round of U.S.

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