Given the tight time frame and the complexity of trade policy, few experts expect the countries to reach a comprehensive deal before the March deadline, but on Monday, U.S. Secretary of Commerce Wilbur Ross told CNBC that the negotiations could lead to some kind of agreement.
After months of US tariffs on Chinese imports and Chinese retaliatory tariffs on USA goods, Trump and Chinese President Xi Jinping held December 1, 2018 meetings at the G20 in Argentina.
The United States has long complained about access to the vast Chinese market and Beijing's demands US companies reveal their technology advances.
Deputy U.S. Trade Representative Jeffrey Gerrish is leading the American delegation in Beijing.
After the first day of talks wrapped up, Chinese importers made their third large purchase of US soybeans in the past month, Chicago-based traders said.
Envoys will have "positive and constructive discussions" during meetings Monday and Tuesday, said Chinese Foreign Ministry spokesman Lu Kang.
China heralded an agreement in the last week of December between China and the U.S.to hold another round of in-person meetings in January, the meetings that are now occurring this week.
Additionally, the US and China will meet for a third day on Wednesday.
Optimistic investors are placing their bets on the stock market once again, boosted by the United States' and China's latest attempt to resolve their trade war. "Their economy is slowing much more than I think public data is showing right now", Leland Miller, chief executive officer of China Beige Book, said on Bloomberg TV Tuesday.More news: Trump fires back at Mitt Romney for scathing op-ed
Trump imposed import tariffs on hundreds of billions of dollars of Chinese goods past year and has threatened more to pressure Beijing to change its practices on issues ranging from industrial subsidies to intellectual property to hacking.
"On whether this operation will affect the ongoing trade talks between the two sides, I believe proper resolution of trade disputes is conducive to the world".
The Trump administration is dealing with an increasingly strong China that has its own pressing needs, said the Global Times, which is published by the ruling Communist Party. -China trade talks and yet China sent in its top economics adviser Chinese Vice Premier Liu He.
Even so, Lu said, "China's development has ample tenacity and huge potential".
A member of the USA trade delegation to China, carries a folder as he leaves a hotel in Beijing, Jan. 7, 2019.
Treasury officials have made the case that market volatility is in part due to the tightening of USA monetary policy, and a result of the trade war with China.
Neither Chinese nor U.S. officials have given any details about the discussions.
The Trump administration's calculus regarding how much to stress either increased purchases of USA goods, on the one hand, or structural reforms reflects a divide within the White House. Before they bring Lighthizer to the table, Prasad said the U.S.is trying to see exactly what sort of offer China is willing to put on the table first.