US trade delegation arrives in China for talks on tariffs

A breakthrough deal to fundamentally change China's economic policies is viewed as highly unlikely during the two days of talks

US China trade war, US tariff, American tariff, Chinese companies, US sanction,Chinese products, United States, American port, Chinese goods,trade, Settle logistics, US President Donald Trump, President Trump, Malaysia, Vietnam, Indonesia, Transship

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Containers at Yangshan Deep Water Port in Shanghai. To avoid tariffs on exports from China, brokers arrange transshipments, which make a stop in another country on the way to their destinations to disguise the origin of the goods. Photo: Reuters

Bloomberg

Last Updated : May 04 2018 | 1:24 AM IST

US President Donald Trump on Thursday praised his relationship with Chinese President Xi Jinping as officials from the world’s two largest economies began trade talks in Beijing, while state media said China would stand up to US bullying.

A breakthrough deal to fundamentally change China’s economic policies is viewed as highly unlikely during the two days of talks, though a package of short-term Chinese measures could delay Washington’s decision to impose tariffs on about $50 billion worth of Chinese exports.

The discussions, led by US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, are expected to cover a wide range of US complaints about China’s trade practices, from accusations of forced technology transfers to state subsidies for technology development.

“Thrilled to be here. Thank you,” Mnuchin told Reuters at his hotel when asked if he expected progress. He made no other comments.