China-US trade negotiations underway in Beijing

TIL Desk/World/Washington/ The third round of negotiations between China and the US to end their trade war began on Thursday here as the parties planned to close their differences before March 1 deadline, media reports said.

A news agency confirmed the start of the high-level economic and trade consultations following a ceremony chaired by Chinese Vice Premier Liu He, the US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin. The talks will conclude on Friday.

Several preparation meetings were held from Monday to Wednesday between members of the delegations. Analysts believe that the parties are not likely to reach a final agreement in this third round due to Washington’s demands.

The main problems posed by the US government are China’s protection of intellectual property, its forced technology transfer, subsidies from Beijing to local companies that generate inequality with foreign companies, cyber theft, exchange controls and market access of the Asian giant.