Government representatives from the US and China on Friday concluded a fresh round of constructive trade negotiations here ahead of another round of talks in Washington that could pave the way for a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping to sign off on a deal later in the month.
Mnuchin said in a tweet Friday that he looked forward to continuing the talks in Washington next week.
Trump has said the two sides were close to a deal, repeatedly saying the talks are going "very well", but officials have played down expectations of an imminent agreement.
The US delegation arrived in Beijing on Thursday and began discussions with Chinese officials over a working dinner.
Jin, who is now the chairman of China International Trade Association, said he was hopeful for a positive outcome from the talks and that China will make policy adjustments accordingly.
Kudlow on Thursday said the US may remove some of the tariffs on Chinese goods, but not all.
A USA administration official told Reuters earlier this week that Lighthizer and Mnuchin were "literally sitting there going through the texts", a task typically delegated to lower-level deputies.
President Donald Trump imposed a tariff on $250 billion of Chinese products in a bid to change the way it manages its business with the rest of the world and to open up China's economy to US companies.
Air India's Ashwani Lohani likely to monitor Jet Airways operations
Many of its pilots and other support staff have also not been paid salaries for several months, according to media reports. As part of the bailout plan, lenders will start a bidding process to sell their stake in the airline to a new investor.
Analysts had anticipated the scope of this round of talks to be quite narrow, but that both countries hoped to signal they were working hard toward a resolution.
Reuters reported previously that the two sides were negotiating written pacts in six areas: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade.
On Thursday, Premier Li Keqiang said Beijing would sharply expand market access for foreign banks and securities and insurance companies, fuelling speculation that China may soon announce new rules allowing foreign financial firms to increase their presence.
"We have to see what the track record is and we're not going to give up our leverage".
Among Trump's demands, theft of USA intellectual property and forced transfer of U.S. technology had been the burning issues for Beijing, which the United States had been labelling as an unfair practice of business.
This has proven to be a mountainous task because the Chinese are refusing to recognise that they have engaged in these acts alleged by the US governmentleading to a resolving problem.
"The objective of trade is to avoid war".
USA stocks ended the final trading day of the first quarter on a strong note on Friday and the S&P 500 posted its best quarterly gain since 2009, boosted by optimism over the latest round of trade talks between the United States and China.