US negotiators in Beijing for trade deal talks© firstpost.com

US negotiators in Beijing for trade deal talks

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US negotiators met with their Chinese counterparts in Beijing on Monday for a new round of high-stakes trade talks, hoping to reach a deal before the March 1 deadline set by Donald Trump, as the IMF warned of a possible global economic "storm".

Preliminary discussions were to start on Monday, according to the White House, before US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin step in for the main event on Thursday and Friday.

In December, Washington suspended for three months its plan to increase tariffs on USD 200 billion worth of Chinese imports -- to 25 per cent from the current 10 per cent -- to allow time for negotiators to work out a trade spat that has triggered fears of a global economic slowdown.