A United States delegation arrived here on Thursday on a two-day visit to meet the Chinese Vice-Premier and other officials to defuse a potential trade war between the two countries over import tariffs.
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.
As the group landed in Beijing, US President Donald Trump tweeted that "our great financial team is in China trying to negotiate a level playing field on trade!".
The two economic superpowers have been locked in a trade dispute since March, when Trump announced 25 percent tariffs on $50 billion in Chinese imports. He added that he and Chinese President Xi Jinping "will always have a good (great) relationship!"
Trump, for his part, argues that the measures undertaken by the U.S. are needed to cut the trade deficit with China, which stood at $375 billion a year ago. "I look forward to being with President Xi in the not too distant future".
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Last month, Washington banned Chinese telecom and smartphone giant ZTE from purchasing crucial U.S. components for seven years - threatening the company's survival - as punishment for breaking United States export controls.
But experts say China's promises of greater access often turn out to be hard for foreign companies to take advantage of because of delays or onerous requirements they need to meet.
"The Made in China 2025 industrial policy concerns China's long-term development plan, so the overall direction won't change at all", said Yu Miaojie, professor at Peking University's National School of Development.
The official China Daily said in an editorial China would "stand up to the U.S.' bullying as necessary".
USA officials are concerned about Beijing's "Made in China 2025" industrial policy which they see as a Chinese plan to dominate key high tech industries.
Talks were regarded key to avert a trade war between the two major trade partners as both sides have already announced increase in tariffs in a tit-for-tat trade spat.
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But the rival views in Washington, reflected in the makeup of the USA team, could undermine the US negotiating stance, the consulting firm Eurasia Group said in a research note.
Treasury Secretary Steven Mnuchin, right, and his wife Louise Linton, hold up a sheet of new $1 bills, the first currency notes bearing his and U.S. Treasurer Jovita Carranza's signatures, Wednesday, Nov. 15, 2017, at the Bureau of Engraving and Printing (BEP) in Washington.
"Washington and Beijing should be clear: neither side can scare the other down".
This comes amid a festering dispute between the world's two largest economies.
A guide to the US-China trade talks: can the two squabbling powerhouses defuse the tension? Washington has scuppered multiple China-linked bids for semiconductor-related firms following a call from a White House advisory panel to do more to protect the USA industry because of China's industrial policies.
Companies like Huawei and ZTE are avidly pursuing advanced semiconductor technology, but experts say overall Chinese research and development spending is a fraction of the multibillion-dollar budgets of the big players.
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