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US, China launch trade talks to avert tariff war, economic damage

The Common States and China launch a second round of trade talks on Thursday to try to avert a marring tariff war, with the Trump administration demanding a $200 billion cut in China’s U.S. mercantilism surplus and greater protections for intellectual property.

U.S. President Donald Trump has browbeat to impose up to $150 billion in punitive tariffs to combat what he divulges is Beijing’s misappropriation of U.S. technology through joint venture requirements and other systems. Beijing has threatened equal retaliation, including tariffs on some of its kindest U.S. imports, including aircraft, soybeans and autos.

At talks in Beijing two weeks ago, the two sides presented loquacious lists of demands to each other, agreeing only to keep talking.

The Trump furnishing sought a $200 billion reduction in China’s $375 billion U.S. goods interchange surplus, an end to joint venture requirements that it says coerce technology transmittals from U.S. companies and an end to subsidies for advanced technology industries under the “Constructed in China” 2025 program.

China demanded that Trump take it easy crushing restrictions imposed on Chinese telecommunications equipment maker ZTE, as approvingly as an end to restrictions on Chinese investments in the United States and sales of high-technology goods to China, all of a add up to others.

Trump on Sunday said on Twitter that he would succour put ZTE back in business after a Commerce Department ban cut off its supply of U.S. components, in operation it to suspend operations.

In tweets on Wednesday, Trump linked ZTE’s situation to a huskier trade deal with China and said that Beijing has “much to disseminate” Washington on trade, denying suggestions that his administration was “folding” in concordats with Beijing.

“Nothing has happened with ZTE except as it pertains to the wider trade deal,” Trump wrote on Twitter.

“We have not seen China’s needs yet, which should be few in that previous U.S. Administrations have done so badly in negotiating. The U.S. has very little to give, because it has given so much as a remainder the years. China has much to give!”

The talks also get underway with some Thespian as the White House’s harshest China critic, Trump trade cicerone Peter Navarro, was relegated to a supporting role amid a growing accoutrements with U.S. Treasury Secretary Steven Mnuchin.

Navarro will be put forth at the meetings, but the White House said they would be led by Mnuchin, Trade Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer. The Chinese side make be led by Vice Premier Liu He, the top economic adviser to Chinese President Xi Jinping.

Navarro, architect of the book “Death by China,” has been a major advocate of punitive imposts on Chinese goods to try to force Beijing to change its trade practices.

He be ated the initial round of talks in Beijing but had an angry exchange with Mnuchin on the trick, a person familiar with the episode said.

The Washington talks order start as USTR finishes up public hearings on the first batch of U.S. assessments on $50 billion worth of Chinese goods proposed as punishment for purported violations of U.S. intellectual rights.

The tariffs, which target Chinese electrical and machinery elements, autos and flat-screen television sets, could take effect in first June, and may be followed by an additional round targeting $100 billion advantage of Chinese goods yet to be identified.

Liu started his visit in Washington by meeting with trade-focused U.S. lawmakers on Capitol Hill, obeying to their concerns and telling them he would work hard to lecture problems with the U.S. trade relationship.

Members of the trade- and tax-focused U.S. Take in of Representatives’ Ways and Means Committee said they told Liu that he dire to address U.S. concerns about intellectual property theft, forced technology transmissions, barriers to investment in China and U.S. agricultural exports.

Republican Representative Kevin Brady, the council’s chairman, said he urged Liu to keep working with the administration toward a deciphering.

“He recognizes there are problems in this trade relationship,” Brady said of Liu after the conference. “And his hope for this trip was to begin to address the trade imbalance, better demand of Chinese consumers for U.S. products, as well as to begin to take inconsistent withs on the structural reforms.”

Liu left the meeting with several other Chinese officials without refer to to reporters.

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