US delegation in China for trade talks, Trump sounds optimistic on prospects of a deal
US Trade Representative Robert Lighthizer will lead a delegation that includes Treasury Secretary Steve Mnuchin to Beijing today as trade talks between the world’s two largest economies resume.
In turn, China’s chief economic official, Vice Premiere Liu He, will travel to Washington next week for a continuation of talks. Talks have stumbled recently amid concerns that Beijing is backtracking on key concessions, like pledging to protect intellectual property rights of American firms, combatting theft of trade secrets and purchasing more US goods and services. For its part, Beijing claims the deal is one-sided and would like to see existing US tariffs on Chinese goods lifted.
Having maintained a hawkish stance on trade relations with China, President Trump is unlikely to completely lift all tariffs. However, with the 2020 presidential elections coming up, he will be looking to score a key win on the trade front and might be willing to cut a deal in the coming weeks that gives Beijing more regulatory wiggle room while maintaining limited American sanctions to ensure Chinese compliance.
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