The talks are part of an effort to redress the record trade gap between the two countries, which surged to US$162 billion in China's favor last year and is forecast to exceed that figure this year.
Critics of China's currency policy contend the yuan is undervalued by as much as 40 percent, giving Chinese exporters an artificial price advantage, and that this is a major factor behind the trade imbalance.
Chinese officials say they cannot move any faster in currency reforms after having revalued the yuan by 2.1 percent in July, at the same time giving up a decade-old peg to the US dollar and switching to a basket of major currencies that also includes the Japanese yen and euro.
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