U.S. President Donald Trump says that an official delegation from the United States will travel to Beijing to discuss trade beginning on Thursday. The White House said the delegation would include Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, U.S. Trade Representative Robert Lighthizer and the U.S. ambassador to China, Terry Branstad. The US has threatened to impose tariffs on 150 billion dollars' worth of Chinese products and China has responded with its own duties on American products. CGTN's Jim Spellman has more.

DONALD TRUMP US PRESIDENT "I think we've got a very good chance of making a deal. As you know, they've just stated, President Xi, a terrific guy and a friend of mine, but he's representing China, and I'm representing the United States."

Separate from Trump's threats, China has been easing restrictions on trade.

CHEN YIN CHINESE MINISTRY OF INDUSTRY AND INFORMATION TECHNOLOGY "We will further open automobile, shipbuilding, aircraft manufacturing and other industries on the basis that these manufacturing industries are already basically opened, and relax restrictions on the ratio of foreign ownership structure, especially that in the automobile industry."

But China says it will defend its interests, and will not back down from U.S. threats. 

GAO FENG SPOKESPERSON, CHINESE COMMERCE MINISTRY "For the U.S. moves, we will wait and see. We are fully prepared for any possibilities, taking into consideration the worst case scenario."

China has repeatedly said trade disputes should be handled through the World Trade Organization. Jim Spellman, CGTN, Washington.