China actively looking for trade dispute solutions, says Chinese vice premier


National Economic Council Director Larry Kudlow on the Trump administration's trade negotiations with China and the state of the US economy.

Liu made the statement during his meeting with current US lawmakers and former US Secretary of State Henry Kissinger, who, along with China's first premier Zhou Enlai, brokered the meeting between US President Richard Nixon and Mao Zedong in 1975 that led to the establishment of diplomatic relations between the US and China, reports state-run news portal Xinhua.

The delegation, which arrived on Tuesday, includes Governor of the People's Bank of China Yi Gang, Vice-Chairman of the National Development and Reform Commission Ning Jizhe, Deputy Director of the Office of the Central Commission for Financial and Economic Affairs Liao Min, Vice-Foreign Minister Zheng Zeguang, Vice-Minister of Industry and Information Technology Luo Wen, Vice-Finance Minister Zhu Guangyao, Vice-Minister of Agriculture and Rural Affairs Han Jun and Vice-Minister of Commerce and Deputy International Trade Representative Wang Shouwen.

Chinese officials who arrived in Washington on Tuesday for trade talks with the USA will likely present a proposal for the US trade delegation on Wednesday, possibly extending the negotiating process, according to Larry Kudlow, chief economic adviser to President Trump. He tweeted that he was directing the Commerce Department to ease a seven-year ban on Chinese telecommunications giant ZTE doing business with USA companies because he was concerned about too many Chinese jobs being lost. On the Chinese side, that included "appropriately dealing with the ZTE case", according to an unofficial translation.

Earlier Wednesday, Trump continued to defend the lifeline he offered to Chinese telecommunications-equipment maker ZTE Corp., insisting that trade talks with Beijing are just getting started. Last year, ZTE procured components and software from 211 US companies.

He noted that his ongoing USA visit aims to, according to the consensus of the two presidents, continue in-depth communication with the US side on bilateral economic and trade issues. Trump has threatened to impose tariffs on as much as $150 billion in Chinese imports to punish Beijing for violating American intellectual-property rights.

US lawmakers expressed their willingness to maintain good relations with China.

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Close to 125 witnesses are scheduled to testify at the hearings, which conclude on Thursday, in a sign of the concern in the USA business community over the administration's move.

Trump has threatened to expand the list of targeted Chinese goods to $150 billion - which potentially could cover everything the United States imports from China, since those imports totaled $130 billion previous year.

Kissinger said the handling of the U.S.

Barring a major breakthrough in this week's talks, tariffs on the initial $50 billion worth of goods could go into effect in the coming weeks or months.

Ahead of the meetings at Treasury, the Chinese delegation has been meeting with lawmakers on Capitol Hill.

On Wednesday, Liu met with House Ways and Means Chairman Kevin Brady, R-The Woodlands, whose committee oversees trade policy.

Erin Ennis, vice president at the U.S.