Trump administration accuses China of backpedaling over trade; Vice Premier Liu He plans Washington trip for talks May 9-10.

The trade battles with China hit US goods exporters in 2018. Services exports increased, but at a slower pace than in previous years. Despite these challenges, China continued to be important to US economic growth, supporting more than 1.1 million jobs.

Every marriage has its ups and downs: decades of China-US economic cooperation have given way to friction. While any compromise entails pressure on some Chinese sectors, trade talks show the possibility of win-win outcomes and a comprehensive readjustment in bilateral ties.

U.S. says the Chinese telecom company’s equipment is a security risk.

A former engineer and a Chinese businessman have been charged with economic espionage and conspiring to steal trade secrets from General Electric Co to benefit China, according to an indictment unsealed by the U.S. Justice Department on Tuesday.

Lighthizer, Mnuchin set to return to Beijing on Tuesday with both sides aiming for draft deal after subsequent talks in Washington.

Driven by anxiety over the success of China’s growth model, the US under Trump has sought to apply “maximum pressure” through its trade war. However, an eventual bargain will serve to cement China’s leadership role not only in economics, but also global governance.

Under Trump the US has abandoned its former strategy of engagement with China, instead adopting a hardline stance. But his “trade war” has not borne fruit, while a recent thaw in negotiations shows the possibilities for renewed Sino-US cooperation.

The smaller deficit suggests U.S. economic growth in the first quarter might have been stronger than previously estimated.

Negotiators aim for signing ceremony in late May or early June.