President Trump optimistic ahead of trade talks with China

US and China commence two days of trade talks

President Trump optimistic ahead of trade talks with China

China's economy was slowing even before the USA tariffs began depressing demand for its exports, so the trade war is making a hard situation worse for Xi.

The meeting Thursday culminated on the second day of meetings between Chinese and US trade officials in Washington, DC.

The two sides have just a month remaining in a 90-day truce declared in December.

"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 global affairs, said.

Analysts are skeptical that the world's two biggest economies can reach any comprehensive deal over the next month.

"It can't be settled below that level", William Reinsch, a former Commerce Department official, said of the U.S.

Early Thursday, Trump tweeted about the discussions, saying that "meetings are going well with good intent and spirit on both sides".

Specifically, US officials are attacking Chinese trade practices they say are unfair, spotlighting the forced transfer of American technology through requirements that foreign companies form joint ventures with local firms, as well as the alleged theft of American intellectual property through hacking. According to CNBC, that meeting could take place in late February, which would provide little margin for error ahead of the March 1 deadline. If significant progress is not made or no pact is in place, USA tariffs on Chinese imports will increase substantially.

This round of talks is scheduled for two days from January 30th to 31st.

The Chinese delegation chose to extend Trump an olive branch during the Oval Office meeting, and the president seemed impressed.

"Uncertainty is not the friend of business", Powell said.

Also hanging over the talks is are US indictments against Chinese top telecommunications equipment maker Huawei Technologies Co, accusing it of bank and wire fraud to evade Iran sanctions and conspiring to steal trade secrets from T-Mobile US Inc. He insisted that the Huawei case and trade talks were "separate issues".

"Let me be clear".

Mnuchin told Fox Business he expected "significant progress" to trade and market access between the two countries.

"The odds of them stonewalling and rope-a-doping in this meeting are close to zero", said Robert Atkinson, president of the Information Technology and Innovation Foundation think-tank. And he has emerged as the USA strongman in the ongoing trade negotiations, determined to force changes in Beijing's economic policies.

Trump later intervened to modify the penalties, allowing ZTE to avoid collapse.

A new round of high-level talks of China and United States was held on Wednesday morning in the Eisenhower Executive Office Building of White House, Washington D.C.

"This isn't going to be a small deal with China".

Last year, the Asian country recorded its slowest growth in almost 30 years, making the USA trade war an unwelcome development.

At the end of 2016, Donald Trump appointed Navarro as head of the newly-created White House National Trade Council. "They are correct", Trump said.

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