US, China resume trade talks with a chill in the air

Top US and Chinese trade officials returned to the bargaining table on Wednesday, working to avoid a sharp escalation in the trade war between the world’s two largest economies.

At the head of a 30-person delegation from Beijing, Chinese Vice Premier Lie He greeted his counterpart, US Trade Representative Robert Lighthizer, against the backdrop of Washington’s prosecution of Chinese telecoms giant Huawei, which has outraged Beijing and infused the negotiations with uncertainty.

The two sides have just a month remaining in a 90-day truce declared in December. Should the talks fail, US import duties on $200 billion in Chinese imports are due to more than double on March 2 -- something economists say could help knock the wind out of the global economy’s sails.

The world’s two largest economies are battling for nothing less than future dominance in critical high-tech industries, according to Lighthizer, the lead US negotiator.

A little over three years ago, Beijing launched a strategic plan dubbed “Made in China 2025” that aimed to make the nation the global leader in aerospace, robotics, artificial intelligence, new-generation autos and other areas—sectors US officials say now represent the “crown jewels” of American technology and innovation.

US President Donald Trump has repeatedly said he favors a healthy Chinese economy, but not at the expense of American business and know-how.

US, China resume trade talks with a chill in the air

Top US and Chinese trade officials returned to the bargaining table on Wednesday, working to avoid a sharp escalation in the trade war between the worlds two largest economies. At the head of a 30-person delegation from Beijing, Chinese Vice Premier Lie He greeted his counterpart, US Trade Representative Robert Lighthizer, against the backdrop of Washingtons prosecution of Chinese telecoms giant Huawei, which has outraged Beijing and infused the negotiations with uncertainty. The two sides have just a month remaining in a 90-day truce declared in December. Should the talks fail, US import duties on $200 billion in Chinese imports are due to more than double on March 2 -- something economists say could help knock the wind out of the global economys sails. The worlds two largest economies are battling for nothing less than future dominance in critical high-tech industries, according to Lighthizer, the lead US negotiator. A little over three years ago, Beijing launched a strategic plan dubbed Made in China 2025 that aimed to make the nation the global leader in aerospace, robotics, artificial intelligence, new-generation autos and other areassectors US officials say now represent the crown jewels of American technology and innovation. US President Donald Trump has repeatedly said he favors a healthy Chinese economy, but not at the expense of American business and know-how.