Chinese Premier Li Keqiang said Beijing will sharply expand market access for foreign banks and securities and insurance companies.
U.S. Treasury Secretary Steven Mnuchin said on Friday he had a"productive working dinner" the previous night in Beijing, kicking off a day of talks aimed at resolving the bitter trade dispute between the world's two largest economies.
"We had a very productive working dinner last night, and we are looking forward to meeting today," Mnuchin said as he left his hotel to meet with Chinese Vice Premier Liu He, who is due to visit Washington next week to continue the talks.Trump imposed tariffs on $250 billion of Chinese imports last year in a move to force China to change the way it does business with the rest of the world and to pry open more of China's economy to U.S. companies.
White House economic adviser Larry Kudlow said the United States may drop some tariffs if a trade deal is reached while keeping others in place to ensure Beijing's compliance.Mnuchin and Lighthizer greeted a waiting Liu at the Diaoyutai State Guest House just before 9 a.m. on Friday for what China's Commerce Ministry has said would be a full day of talks.
U.S. companies say they are often pressured into handing over technological know-how to Chinese joint venture partners, local officials or regulators as a condition for doing business in China.
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