Vice Premier Arrives In Washington For Trade Talks

Vice Premier Liu He arrived in Washington as the world's top two economies prepare for high-stakes trade talks, the state media on the mainland said on Tuesday.

The large delegation led by He, which includes the head of the central bank arrived as a US Justice Department indictment against top Chinese tech firm Huawei was unsealed, possibly complicating the discussions.

Beijing and Washington have a month remaining on a truce – declared in December by Donald Trump and Xi Jinping – that delayed a hike in tariffs on hundreds of billions in Chinese exports economists say could further damage an already-faltering global economy.

Trump will meet with Liu during the two-day talks, which are slated to open on Wednesday, US officials said, as pressure mounts on both sides to reach a deal.

While there have been contradictory reports on the chances of success for the negotiations, global equities have been risen in recent weeks on hopes the two will reach some sort of deal.

Apart from central bank chief Yi Gang, the Chinese team also includes Vice Finance Minister Liao Min and Vice Foreign Minister Zheng Zeguang, the Xinhua news agency reported.

But the gathering comes after the US Justice Department unveiled sweeping charges against Huawei and its chief financial officer Meng Wanzhou – also the daughter of the company's founder.

Secretary of Commerce Wilbur Ross said that the indictments were "wholly separate from our trade negotiations with China".

However, he added: "Commerce will continue to work with our inter-agency partners to protect US national security interests". (AFP)