Peter Navarro and Steven Mnuchin feuded at Beijing trade talks

Peter Navarro and Steven Mnuchin feuded at Beijing trade talks

Peter Navarro and Steven Mnuchin feuded at Beijing trade talks

President Donald Trump says there has been "no folding" in his trade negotiations with China, as he addresses his efforts to help a Chinese telecommunications company that violated US sanctions.

White House trade adviser Peter Navarro said Sunday that he believes President TrumpDonald John TrumpOregon governor to face state rep in November Ashford, Eastman neck and neck in Nebraska Dem primary Progressive pick Wild wins Dem primary for Pa. House seat MORE's exchange of tariff threats with Beijing will serve as a "wake-up call" for Americans about unfair Chinese economic policies.

Mnuchin will lead the delegation that the White House finally revealed Wednesday will include Commerce Secretary Wilbur Ross and United States Trade Representative Robert Lighthizer. -China Business Council, said it is unclear whether major progress would be made.

Ahead of the meetings, Liu, who is China's top economic official, told USA lawmakers on Wednesday that he would work hard to address the U.S. Tensions between the two nations have increased as Trump imposed tariffs on $50 billion worth of Chinese goods, and the Chinese retaliated with tariffs of their own.

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But the cost of revenue in that category doubled to 11.91 billion yuan, due to subsidies and promotional expenses. Tencent said its profits increased 61 percent year-on-year to 23.3bn yuan (US$3.7bn) between January and March.

"I urged the Chinese vice premier to seize this moment in time to address these lasting concerns and to continue to grow this relationship in a more fair way", said Kevin Brady, the Republican chair of the House Ways and Means Committee that oversees trade issues.

"He recognizes there are problems in this trade relationship", Brady said of Liu after the meeting.

"His hope for this trip was to begin to address the trade imbalance, increasing demand of Chinese consumers for US products as well as to begin to take steps on the structural reforms that have been raised", Brady said after a roughly 45-minute meeting with the Chinese delegation.

Navarro and Mnuchin's Beijing feud came as Navarro grew frustrated when additional one-on-one meetings between Mnuchin and Liu were added to the schedule - leaving other members of the delegation waiting in a hold room, one source said.

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Indeed, trade between the U.S. and Iran is far less than trade with Antigua and Barbuda, one of the small Caribbean countries. European officials have said they are looking for ways to help their companies escape the brunt of the USA sanctions.

Senator Orrin Hatch, Republican chairman of the Senate Finance Committee, said after a meeting with Liu that he doubted the Chinese would agree to steps that would warrant backing off the tariff threat.

ZTE's seven-year USA business ban, ordered last month, led the company to say it was ceasing operations because it can not get the parts it needs for manufacturing telecommunications equipment and smart phones. For example, during the Beijing trip, Chinese officials pressed Mnuchin and others to relax restrictions on ZTE Corp., a controversial Chinese telecommunications company that has violated US law.

"Nothing has happened with ZTE except as it pertains to the larger trade deal", Trump said in a series of tweets Wednesday.

"We do not want to see the escalation of the trade frictions between China and the U.S.", Gao said at a weekly briefing. "China has much to give!"

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