China vows to fight for its own interests in U.S. trade talks

China vows to fight for its own interests in U.S. trade talks

Instead, U.S. Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer will lead the American delegation in talks with Chinese Vice Premier Liu He, the top economic adviser to President Xi Jinping. -China trading relationship, according to House Ways and Means Chairman Kevin Brady.

Navarro also "blew up" at Treasury Secretary Steven Mnuchin during a trip to China according to news website Axios.

"We hope the related departments quickly take real action", said Gao, while relaying some of China's other demands such as fair and equitable treatment for Chinese products and investment.

Close to 125 witnesses are scheduled to testify at the hearings, which conclude on Thursday, in a sign of the concern in the USA business community over the administration's move.

Liu gave the OK hand gesture to waiting reporters as he left Hatch's office.

The controversy comes as Trump appears increasingly open to smoothing over differences with China in an attempt to avert a trade war before the midterm elections.

"Nothing has happened with ZTE except as it pertains to the larger trade deal", Trump wrote on Twitter.

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His shift away from a lead role in the talks now comes amid a growing rift over trade policy with Mnuchin, who has favored more achievable deals to open China's economy to USA firms and ease tariff threats, Reuters noted. Florida Republican Senator Marco Rubio said the move was a sign that the US was about to "get out-negotiated by China again". -China trade talks that get under way in Washington on Thursday, a senior US official said on Wednesday.

The White House's harshest China critic, Peter Navarro, will also take part in the talks, reports Bloomberg.

In addition to Navarro, senior American officials who will be participating include National Economic Council Chair Larry Kudlow and trade adviser Everett Eissenstat, the second official said. Both officials spoke on condition of anonymity.

Trump has called for a dramatic reduction in the gap between the amount of goods that China exports to the US and the amount of goods the USA exports to China (the gap is now around $370 billion a year). There has been no folding as the media would love people to believe.

Uncertainty over relations between the US and China has roiled financial markets and raised concerns among businesses anxious about a trade war. Tensions between the two nations have increased as Trump imposed tariffs on $50 billion worth of Chinese goods, and the Chinese retaliated with tariffs of their own. China has vowed to retaliate on everything from US soybeans to airplanes.

Liu told one group of House lawmakers in a meeting Wednesday that he "recognizes there are problems" in the U.S.

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