Trade talks must be held as equals and be mutually beneficial: China

Where should Europe be innovating? | Oli Scarff  AFP via Getty Images

A top-level USA trade delegation is travelling to Beijing for talks on Thursday and Friday amid a festering dispute between the world's two largest economies.

U.S. Trade Representative Robert Lighthizer is "always hoping, but not always hopeful" about upcoming talks with China, he said on Tuesday.

China, which denies it coerces technology transfers, has threatened retaliation in equal measure, including tariffs on US soybeans and aircraft.

Chinese Vice Premier Liu He, also a member of the Political Bureau of the Communist Party of China Central Committee, will exchange views on China-U.S. economic and trade issues of common concern with the U.S. delegation.

"The U.S. wants greater access to China's market, but it should not use trade actions as a battering ram to force China to open its doors".

The talks needed some give-and-take, the official China Daily said in a Wednesday editorial. "It is already in the process of opening them wider", the paper said.

Chinese state media expressed caution on Thursday ahead of key trade talks with senior US officials in Beijing, saying China will stand up to USA bullying if needed but that it was still better to hash things out around the negotiating table.

"If the USA delegation comes to China believing Beijing's resolve to open wider to the outside world is a matter of expediency under pressure from Washington, it will likely mean a lot of time is wasted setting the record straight".

The Trump administration has recently threatened to impose tariffs on up to $150 billion of Chinese imports, while China has vowed to retaliate against USA exports if Washington moves forward with the tariffs. "So, one way or another, we are going to deal with this recurring problem of trade with China", Ross told CNBC.

But Ross and Navarro, who spoke to steel company executives in Washington on Tuesday, both said any final decision would be made by U.S. President Donald Trump.

Consultation between China and the United States on economic and trade issues will be constructive as long as the USA delegation comes with sincerity, said a Chinese Foreign Ministry spokesperson Wednesday.

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