Chinese and U.S. officials met face-to-face Thursday in an attempt to resolve a dispute over technology that has taken the world’s two largest economies the closest they’ve ever come to a trade war.

A high-powered U.S. delegation arrived in Beijing for talks with Chinese officials aimed at defusing the tensions, though analysts say they appear unlikely to yield a breakthrough given the two sides’ intensifying rivalry in strategic technologies, where China lags behind the U.S.

Treasury Secretary Steven Mnuchin led the group, which included Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer. Liu He, President Xi Jinping’s top economic adviser, headed the Chinese side in the talks, expected to end Friday.

China has stepped up efforts to overtake western industry leaders in advanced technologies, especially for semiconductors, the silicon brains required to run smartphones, connected cars, cloud computing and artificial intelligence.

President Donald Trump is seeking to cut the chronic U.S. trade deficit by $100 billion and gain concessions over the policies that foreign companies say force them to share technology in order to gain market access.

A dip for 30-year mortgage rate

The 30-year fixed mortgage rate dipped after soaring to its highest level in five years last week, according to data released Thursday, a temporary reversal in a year that likely will bring steady increases.

According to the Freddie Mac report, mortgage rates were mixed: The 30-year fixed-rate average dropped to 4.55 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.58 percent a week ago and 4.02 percent a year ago. The 30-year fixed rate of 4.58 percent reported last week hadn’t been that high since August 2013.

The 15-year fixed-rate average rose to 4.03 percent with an average 0.4 point. It was 4.02 percent a week ago.

Judge: ‘Trump Place’ sign can go

A judge says condominium owners in a New York high-rise called “Trump Place” can stop displaying the name licensed from President Donald Trump nearly two decades ago.

Thursday’s ruling doesn’t order the brassy letters removed from the tower overlooking the Hudson River. The decision clears the way for owners to vote on the issue.

The Trump Organization says it’s confident an appeals court “will conclude otherwise.” Condo board lawyer Harry Lipman declined to comment.

Board documents say 63 percent of owners who responded to an informal survey last year wanted the name removed.

THE BOTTOM LINE

$49B That was the trade deficit in March, the Commerce Department said, the first drop in seven months in a massive gap that President Donald Trump has pledged to shrink through an aggressive “America First” policy. The Commerce Department said the trade deficit slid from $57.7 billion in February. Exports rose in March to a record $208.5 billion, led by shipments of civilian aircraft and soybeans. Imports slipped 1.8 percent to $257.5 billion.