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Transcript

00:00:00
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00:00:02
Top officials from the United States and China are meeting face to face in Washington Wednesday, to try and end their trade war.>> China,
00:00:11
00:00:13
They're draining us, they're taking our money, they're rebuilding themselves.>> The two days of trade talks come amid deep differences between both sides that will make it difficult to hash out a deal before a March 2nd deadline. Reuter's correspondent, David Lutter.>> This is about a month ago before another US deadline for raising tariffs to 25% from 10% on about $200 billion worth of Chinese imports.
00:00:41
But it's starting to get serious, the discussions between the world's two largest economies to try and solve this crisis.>> Here are the sticking points. Washington wants to clamp down on forced technology transfers and theft of intellectual property, from US companies doing business in China. While Beijing denies those allegations, the Trump Administration says hundreds of billions of dollars, are lost annually to China's theft.
00:01:11
Then there's the trade deficit, which President Trump has long railed about. China has offered to increase it's purchases of US goods to reduce the deficit, though experts say China needs to bring more to the table than just that.>> What will be crucial in this round of talks to show progress is whether the Chinese come with a new offer that already hasn't been talked about.
00:01:37
Whether it's something more definitive on the purchases front of purchasing US goods or whether it's a commitment to agree to some sort of a verification mechanism for the steps that it is pledging to take to better protect American technology and intellectual property.>> And if that's not enough, also hanging over the talks are US indictments against China's Huawei.
00:02:04
Just days ago, the Justice Department unveiled charges against the telecom giant, accusing it of bank and wire fraud to evade Iran sanctions.