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One main topic in this round involves how China treats American companies’ intellectual property.
An agreement on that issue would go a long way toward sealing a trade deal that could prevent tariffs from rising on Chinese imports.
The latest talks will begin with working level discussions from Monday-Wednesday before high-level discussions at the end of the week, according to Reuters.
The American side is led by Deputy U.S. Trade Representative Jeffrey Gerrish.
U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will join higher principal-level talks Thursday and Friday.
The two sides are trying to hammer out a deal ahead of the March 1 deadline when U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.
Markets have had drastic reactions to headlines concerning trade.
White House advisor Larry Kudlow told Fox Business last week, “There is a pretty sizable distance to go in U.S.-China trade talks.” After those comments, the Dow Industrials fell into a downward spiral of around 300 points.
Reuters had reported that Trump said he did not plan to meet with Chinese President Xi Jinping before the March 1 deadline set by the two countries for reaching a trade pact.