Chinese state media cautious as US delegation flies in for trade talks

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The U.S. team arrived in Beijing Thursday morning and will meet Chinese officials later in the day and for dinner, the State Department said.

A U.S. delegation-led by Treasury Secretary Steven Mnuchin, who is also President Trump's special envoy, held talks with a Chinese team headed by Vice-Premier Liu He, a close confidant of President Xi Jinping and also a member of the powerful Politburo of the ruling Communist Party of China (CPC).

According to Camunez, the United States administration isn't projecting a coherent stance with a team of negotiators that includes trade hawks like Lighthizer and free trade advocates like Larry Kudlow, Trump's top economic adviser.

The negotiations have begun and still underway, she said.

Liu, a Harvard-trained economist, went to Washington in late February for trade talks, but achieved no breakthrough.

According to a report by Consumer Technology Association and the National Retail Federation the U.S. decision to impose tariffs on around $50 billion worth of Chinese exports is going to hit the American economy.

On March 23, Trump had imposed massive trade tariffs amounting to Dollars 60 billion on China, in an effort to stop the latter from stealing "intellectual property" from American companies.

Trump, while demanding China to reduce the USD 375 billion by USD 100 billion, retaliated with USD 50 billion tariffs on Chinese products.

China would likely fire back by implementing its $50 billion list that targets soybeans, cars, frozen beef, whiskey and a slew of other United States products.

The immediate threat of tariffs obscures an escalating contest between the two countries over technology.

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This comes amid a festering dispute between the world's two largest economies.

"In light of the economic volumes of the two countries and the complexity of bilateral ties, it is never very practical to imagine all problems being wiped out through one-time consultation", Hua added.

"However, as long as the US is honest about maintaining the long-term stability of China-US economic and trade ties and comes to the negotiating table with mutual respect, equal-footed consultation and win-win results in mind, then we believe that the bilateral consultation would be constructive", she said.

Experts say Chinese chipmakers are five years behind their U.S. and Asian rivals and that increasingly high technological hurdles and a meagre talent pool are hindering the effort to catch up with dominant U.S., Japanese, South Korean and Taiwanese manufacturers.

Most of the team gathered at a hotel in central Beijing Thursday before heading to the USA embassy and on to talks at China's state guest house.

We will always have a good (great) relationship!

A China Daily report yesterday quoted a US-China Business Council (USCBC) report as saying that exports from the US to China grew faster a year ago than US export growth to the rest of the world.

The US tariffs and an ensuing trade war would reduce the GDP of the United States by $2.9 billion and cost nearly 134,000 American jobs, says the report.

The US has also reportedly opened a similar probe into another Chinese telecom major, Huawei, after restricting its operations in the country on national security grounds.

The first round of threatened tariffs under the USA government's "Section 301" intellectual property probe focused heavily on technology products benefiting from a "Made in China 2025" program to upgrade China's domestic manufacturing base with more advanced products.

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