Referring to Liu's visit, Lu said China was willing to work with the U.S.to "strive for positive and constructive outcomes from the next round of economic and trade discussions".
President Donald Trump has insisted that the countries reduce the $370 billion trade deficit with China by $200 billion. According to IDC data, ZTE sources more than 40 percent of its components from the US, creating a multibillion-dollar revenue stream for suppliers like Qualcomm and Intel.
China is likely to offer increasing its purchase of aircraft, autos, natural gas and some agricultural commodities, Dan Ikenson, director of the Cato Institute's Herbert A. Stiefel Center for Trade Policy Studies, told FOX Business.
The United States is not seeking a trade war with China and top US officials are looking to make a deal with Beijing, White House economic adviser Larry Kudlow said on Tuesday as talks between the two nations were set to resume. "He has my support", Kudlow said, adding that no agreement had been reached yet.
DeBusk, a former Commerce Department assistant secretary for export enforcement, said Trump's announcement indicates "he is looking to accomplish his objectives on trade with China on a much larger level".
The case dates to before Trump took office in January 2007 but the Commerce Department's decision came amid worsening trade tensions between the USA and China centered on technology-related intellectual property.
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CHINA FACTOR: President Donald Trump tweeted Sunday that he was working with President Xi Jinping of China to put Chinese telecom ZTE "back into business, fast" after USA sanctions threatened ZTE's existence and 70,000 Chinese jobs.
"The United States and China are the two biggest economies in the world". Earlier this month China responded in turn, threatening to impose a similar amount in levies on over 100 USA imports including soybeans, and automobiles.
Despite the USA ban, the Washington Free Beacon has reported that ZTE was selling equipment to the Pentagon and Homeland Security Department. "Stay tuned!" Trump tweeted on Tuesday.
The U.S. flag is seen in the wine section of a supermarket in Beijing, China, April 5, 2018. "So they can't say they don't know what we're asking for", he said.
In 2012 the US House Intelligence Committee had warned that both Huawei and ZTE posed a national security threat and recommended they were banned from the US.