Beijing says solving all China-US trade disputes at once is unrealistic

Trump Trade War- US likely to extend steel and aluminum tariff exemptions- Report

Trump Trade War- US likely to extend steel and aluminum tariff exemptions- Report

Chinese President Xi Jinping's top economic advisor Vice Premier Liu He will meet a top-level United States trade delegation in Beijing this week, the Government has said.

The U.S. team will meet with Chinese Vice Premier Liu He and his team over two days before departing Friday evening. "We will always have a good (great) relationship!"

"It is not realistic to resolve all issues through one round of negotiations", China's Foreign Ministry spokesperson Hua Chunying said. "I look forward to being with President Xi in the not too distant future".

The delegation will meet US Ambassador to China Terry Branstad and then meet Liu, who is also Chinese President Xi Jinping's Chief Economic Adviser.

The trade dispute between the top two economies of the world began last month with Trump imposing tariffs on steel and aluminium imports into the US.

"The outcome should be mutually beneficial and win-win", Hua said, speaking at a regular briefing. But Parker says business leaders worry that the administration's obsession with the trade deficit, which many economists say is misplaced, reduces the likelihood of improving conditions for American companies.

"The gap is wide and deep between the Chinese economic model, based on strengthening state-owned and state-influenced enterprises characterised by government funding and domestic market protection, as opposed to the economic model of other major trading countries based on market forces", said William Zarit, chairman of the American Chamber of Commerce in China.

In doing so, China expected Washington to reciprocate and open its market to Chinese investment and competition, it said.

Treasury Secretary Steven Mnuchin is leading a delegation of US officials.

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Widely read Chinese tabloid the Global Times, published by the ruling Communist Party's People's Daily, said it hoped the talks were a beginning of a resolution of the dispute.

After meetings at the U.S. embassy, the Washington officials moved to the Diaoyutai State Guesthouse for talks with their Chinese counterparts, but the two sides have yet to release details of the negotiations.

"I am hopeful though that progress will be made during the visit, with the end game being a commercial relationship based on fairness and reciprocal treatment that will benefit the USA and like-minded trading partners, as well as China", Zarit said.

The first round of threatened tariffs under the US government's "Section 301" intellectual property probe focused heavily on technology products benefiting from a "Made in China 2025" program to upgrade China's domestic manufacturing base with more advanced products.

US tariffs could go into effect in June after a 60-day consultation period.

China, which denies it coerces technology transfers, has threatened retaliation in equal measure, including tariffs on USA soybeans and aircraft.

As the US Treasury Secretary arrived in Beijing for key talks, President Trump tweeted his support for the crucial mission aimed at negotiating a trade deal that he can present as "fair" and would stop the onset of a "tariff war".

But the diverse US trade delegation is likely to have differing views among its members on the merits of such an offer.

US President Donald Trump has sent nearly all of his close economic advisors to China, including Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, US Trade Representative Robert Lighthizer and White House National Economic Council Director Larry Kudlow.

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