The upcoming visit by the US trade delegation offers a much-needed chance for dialogue to the world's two largest economies. Beijing has made it clear that it will defend its interests, but is also ready for talks. CGTN's Omar Khan has more.

It all started in late March, when US President Donald Trump signed a memorandum to target imports from China.

On April 4th, the Trump administration said it would impose 25 percent additional tariffs on Chinese goods worth 50 billion US dollars.

China fought back with tariffs on US goods, ranging from soybeans and beef to cars and aircraft. Trump soon threatened to expand their target to 100 billion US dollars' worth of Chinese goods. Beijing said it will not back down, but is always open for dialogue. And not just for dialogue, and not just with the US.

XI JINPING CHINESE PRESIDENT "Judging from the trend of world development, economic globalization is irreversible. Based on this analysis, I emphasized in the report of the 19th CPC National Congress, that China will stick to its basic national policy of opening up, and we will open our door for construction. I make it clear here that China won't shut its door to the outside world.  Instead, the door will be only opened wider."

At the Bo'ao Forum in April, President Xi said China will grant foreign capital greater access to the Chinese market, create a better environment for investment, better protect intellectual property rights, and increase its imports.

And just last Friday, China rolled out a set of measures to giving foreign-funded banks greater access to the financial market.

While the Trump administration accuses China of stealing US jobs, an annual report by the US-China Business Council suggests otherwise.

The US-based non-profit organization says one million US jobs were created last year, thanks to American exports to China. The report also says between 2008 and 2017, US exports of goods to China had grown by 86 percent, and services by 300 percent, much faster than to other countries.

As Washington sends its trade delegation to China, the world is holding its breath for the outcome.