China confirms trade talks with United States beginning Monday

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U.S. trade envoy Robert Lighthizer is reportedly worried Trump will cave on China, so he carries a chart

That news that helped boost global markets. The US government is seeking the extradition of the executive, Meng Wanzhou, over alleged violations of sanctions on Iran.

Markets reacted positively on Friday afterthe Chinese government set a date for the trade talks. Just $5 a month. Washington's goods trade deficit with Beijing hit an all-time high of $US43.1 billion in November, with shipments up by almost a tenth from a year earlier.

A team led by Deputy US Trade Representative Jeffrey Gerrish will come to China to have "positive and constructive discussions" with Chinese counterparts.

Speaking to reporters at the White House Friday, Trump said that highest level negotiations were underway with China and he believes an agreement will be reached.

The U.S. accuses China of deploying predatory tactics in a drive to surpass America's technological supremacy. "I think we will make a deal with China". But they reject pressure to scrap technology initiatives they see as a path to prosperity and global influence. The International Monetary Fund estimates that China's economy grew about 6.6 per cent in 2018, down from 6.9 per cent in 2017. Auto sales tumbled 16 percent in November over a year earlier and weak real estate sales are forcing developers to cut prices.

Hassett said Asian economies including that of China have been slowing quite a bit since last spring and that China is "feeling the blow" of US tariffs.

The U.S. economy remains strong, with the country's 3.7 percent jobless rate at a almost five-decade low.

The European Union filed its own challenged in the World Trade Organization in June against Chinese regulations the 28-nation trade bloc said hamper the ability of foreign companies to protect and profit from their own technology. While USA imposed tariffs worth $250 billion on China since July this year, China has imposed tariffs worth $110 billion on goods imported from USA.

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China and the United States have been engaged in a trade war since Trump announced in June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit.

"It is hard to solve the trade dispute immediately because the USA demands are too high, especially demands for changes in China's economic and social systems, which it is hard for China to accept", said Song, the economist at Renmin University. Vice-ministers from the two countries talked on the phone yesterday, and will discuss how to implement the consensus reached in Argentina when the two leaders meet in Beijing, it said. Since Apple CEO Tim Cook is attributing this to President Donald Trump's trade war with China, Hassett argued that this fits with what he's been saying about how the USA economy is supposedly growing while intercontinental markets are slowing down.

Other administration officials at the talks will include Mr Gregg Doud, the US Trade Representative's chief agricultural negotiator, and Mr David Malpass, the Treasury Department's Undersecretary for International Affairs, said the sources.

The makeup of the USA team was announced Friday by the trade representative's office.

The spat has rattled companies and financial markets that worry it would drag on global economic growth that is showing signs of slowing.

Chinese officials are unhappy with USA curbs on exports of "dual use" technology with possible military applications. Trump had been set to raise the tariffs on most of the Chinese goods on January 1. But that was due partly to exporters rushing to beat new duties - a trend that is fading.

The New York Federal Reserve bank said in an analysis Friday that "higher import tariffs had immediate impacts on U.S. domestic prices", raising the consumer and producer prices by 0.3 percentage points higher than they would otherwise have been. It said the threat of US tariff hikes was the "dominating factor" for almost half, while others moved due to higher costs or tighter environmental regulation.

"Apple makes its product in China".

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