Trump meets with Chinese vice premier on trade

Trump meets with Chinese vice premier on trade

China urged Washington on Thursday to accept its industrial development after U.S. intelligence officials said Beijing steals or copies foreign technology, as the two sides prepared for another day of talks aimed at ending a tariff war over Beijing's technology ambitions.

The US and China opened a pivotal round of talks on Wednesday aimed at bridging deep differences over China's intellectual property and technology transfer practices and easing a months-long tariff war.

The US complaints, along with accusations of Chinese cyber theft of US trade secrets and a systematic campaign to acquire US technology firms, were used by the Trump administration to justify punitive US tariffs on $250 billion worth of Chinese imports. And he has emerged as the U.S. strongman in the ongoing trade negotiations, determined to force changes in Beijing's economic policies.

The talks proceeded to a second day despite an unexpected event Wednesday.

Chinese officials have said their policies do not coerce technology transfers.

With just about one month to go before the U.S. However, China can make some meaningful progress immediately to break the ice, he wrote in a report.

The U.S. document lists 70 questions about Beijing's subsidy programs that highlight Washington's misgivings about the role the state plays in China's huge and growing market.

Some business groups watching the talks were tempering expectations for a breakthrough.

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By agreeing to a meeting, some of Mr. Trump's advisers believe the president is putting himself in a position where he will face enormous pressure not to escalate tariffs on Chinese goods from 10% now to 25% on March 2, as he has threatened.

Dennis Wilder, a former top China analyst for the Central Intelligence Agency, said the Chinese are betting they can secure a better deal in direct leader-to-leader horsetrading. "Hopefully they make some good progress that will set them up to be able to get to completion at the end of the 90 days".

His goal in the talks is to force the Asian giant to put an end to trade policies the U.S. deems "unfair", especially the theft or forced transfer of American technology, obliging USA firms to form joint ventures with local partners, and state subsidies for industry.

President Donald Trump is voicing optimism before he meets with representatives from China for trade talks Thursday.

The core of the USA allegations against China is that Beijing systematically steals trade secrets, forces foreign companies to hand over technology as the price of access to the Chinese market and subsidizes its own tech companies.

Trump's comments Thursday - including that an agreement has a "very good chance of happening" - were the clearest articulation he has given so far of his desire to resolve his trade war with China.

US officials insist that the Huawei case is entirely separate from the trade negotiations. China retaliated in kind, hitting $110bn of United States products with duties. 3M Co joined Caterpillar, Nvidia and Apple to blame weakening Chinese demand for revenue and profit shortfalls.

By March 1, China may commit to opening its market significantly to USA products, especially in the agricultural sector and delivering foreign investment reform that ends forced technology transfer, she said.

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