US Treasury Secretary arrives in China to settle trade disputes
US Treasury Secretary Stephen Menuchin arrived in Beijing on Thursday for important trade talks, while official Chinese media said China would stand up to US arrogance if necessary, but it was still better to settle things through negotiation.
A deal to fundamentally change China's economic policies is unlikely to be reached during the two-day visit, despite China's short-term package of measures that could delay a US decision to impose customs duties on Chinese exports worth about $ 50 billion.
Discussions led by US Treasury Secretary Stephen Menuchin and Chinese Vice Premier Liu Hee are expected to cover a large number of US complaints about China's business practices.
"When I was asked if I expected progress, I am thrilled to be here to thank you," Menuchin told reporters on arrival at the hotel.
The US embassy in Beijing said the delegation planned to leave China on Friday evening.
She stressed that the US delegation will meet with Chinese officials over the two days and will meet with US Ambassador Terje Pranstad.
Beijing wants the talks to produce practical solutions to end the current conflict and the talks could go well if the US delegation had the real desire to listen, not just talk, the official China Daily said in an editorial.
The newspaper said in English that China will stand in the face of American arrogance if necessary. China will receive strong support from the international community as a proponent of globalization, free trade and multilateralism.
The newspaper said the United States wanted more access to Chinese markets but should not use trade measures as a tool to force China to open its doors. It is already going to open it more widely.
In return, China expects Washington to reciprocate and open its markets to China's investment and competition.