U.S. trade negotiators will sit down with their Chinese counterparts in Beijing today to try and hammer out details to end the trade conflicts between the two superpowers.
The high-level talks will be followed by more discussions on May 8th... as the negotiations seem to be entering their final stage.
Lee Seung-jae reports.
The trade war between the world's biggest economic powerhouses seems to be reaching its endgame,... as U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are back in Beijing for more high-level talks.
The two countries say they've made progress on issues including intellectual property and forced technology transfer,... which may ultimately end a conflict marred by tit-for-tat tariffs that have cost the two sides billions of dollars,... disrupted supply chains and shaken financial markets around the world.
The trade talks will continue on in Washington next week with Chinese Vice Premier Liu He heading to the U.S. capital for more discussions starting on May 8th.
The scheduled talks are a further indication that the U.S. and China are inching closer to a deal.
Mnuchin confirmed ahead of this week's meeting in Beijing that the trade talks are now close to wrapping up.
However, according to the New York Times,... the U.S. remains cautious,.... as Mnuchin has admitted the negotiations are at a stage where either an agreement could happen,... or it could all fall apart.
The report added Mnuchin did not want to say if the talks would conclude by the end of June,... but did signal that both countries have the desire to thrash out a deal.
Trade advisers in China appear more confident an agreement can be reached,... saying both sides need it politically,... particularly President Trump,... who is seen in China as being eager to clinch a deal before the 2020 U.S. presidential election.
Lee Seung-jae, Arirang News.