US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin were greeted by Vice Premier Liu He at the Diaoyutai State Guesthouse as the three men seek to resolve the long-running trade war between the world’s top two economies.
Officials are seeking to iron out major differences over US accusations that China has been using unfair trade practices for years by heavily subsidising its companies while snatching the technological know-how of American firms. Trump suggested last week that some of those tariffs should stay in place after a deal is reached to ensure China keeps its end of any bargain.“It doesn’t necessarily mean that all the tariffs will be kept in place, some of the tariffs will be kept there,” Kudlow told Bloomberg TV.
The truce reached by Xi and Trump in December called for “reaching a deal as soon as possible in the direction of mutually cancelling the punitive tariffs slapped on by both sides”, Cui said.
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