Trade Talks: US, China to iron out differences in Beijing

The US and China will begin a fresh round of talks in Beijing as they seem to edge closer to resolve their damaging trade dispute. Both the nations are trying to bring an end to the bitter trade war that started last year when US President Donald Trump put forward his protectionist agenda and also criticised China's trade policies.

Beijing: The United States and China will hold fresh round of talks on Tuesday to resolve trade disputes. As per the reports, Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will represent US while Vice Premier Liu He will represent China.

Both the nations are trying to bring an end to the bitter trade war that started last year when US President Donald Trump put forward his protectionist agenda and also criticised China's trade policies.

In 2018, US government had imposed tariffs on $250 billion worth of Chinese products. Beijing retaliated with duties on $110 billion worth of American products.

Tariffs on $200 billion worth of Chinese goods were due to more than double at the beginning of the year increasing from 10 per cent to 25 per cent.

After the tit for tat tariff war, both nations decided to call for a truce in December and then began to work towards a negotiation deal.

According to Trump, Washington and Beijing had agreed on "a lot of the most difficult points" but "they have some ways to go".

Sticking points in negotiations include how a deal would be enforced, issues around intellectual property protection, and how fast to roll back tariffs.

Washington accuses Beijing of stealing intellectual property and wants the latter to make changes to its economic policies, which it says unfairly favour domestic companies through subsidies. It also wants China to buy more US goods to rein in a lofty trade deficit.