China says talks on United States tariff fight scheduled for Monday

China says talks on United States tariff fight scheduled for Monday

China says talks on United States tariff fight scheduled for Monday

Trump wants Beijing to roll back initiatives including "Made in China 2025", which calls for state-led creation of champions in robotics, artificial intelligence, and other fields. Trump argued that his tariff policies were inevitable, saying that "at some point this had to be done" to confront China and other countries that implement unfair trade practices. Apple plunged the most since 2013 in part due to slowing iPhone sales in China, where the economy has slowed. "But right now, China is feeling the blow, really, of our tariffs, and I think that that's an appropriate place for us to have taken the relationship given the amount of stuff that they were stealing from us".

Both governments face economic pressure to reach a settlement.

Growth is expected by the government to have eased to around 6.5% in 2018, down from 6.9% in 2017. Auto sales tumbled 16 percent in November over a year earlier and weak real estate sales are forcing developers to cut prices.

The country´s manufacturing sector has also been hit by the trade dispute, contracting last month for the first time in over two years, according to official data. Some U.S. demands would require structural reform that may be unpalatable for Chinese leaders.

Washington has imposed punitive tariffs of up to 25 percent on $250 billion of Chinese goods.

Lighthizer opposed China's entry into the World Trade Organisation in the 1990s and more recently was a driving force behind Trump's decision to impose tariffs on roughly $US250 billion worth of Chinese goods.

In a December 1 meeting on the sidelines of the G20 Summit in Buenos Aires, Xi and Trump agreed on a 90-day truce to negotiate their differences in the ongoing trade dispute.

"It is hard to solve the trade dispute immediately because the USA demands are too high, especially demands for changes in China's economic and social systems, which it is hard for China to accept", said Song, the economist at Renmin University.

USA officials will travel to Beijing for talks on Monday and Tuesday next week, with China's Ministry of Commerce saying it hopes the talks will be "positive and constructive".

U.S. President Donald Trump has again expressed confidence that he can put an end to the trade war with China which is jolting the global economy. The lower level of these discussions signals that the two sides are still far apart on various issues.

In a separate statement on Friday, USTR said the delegation will also include Under Secretaries from the US Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the White House.

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