China Trade Talks Continue for Unexpected Third Day

US destroyer sails in disputed South China Sea amid trade talks

China Promised The US A Lot On Trade, And Trump Team Is Holding Its Feet To The Fire To Follow Through

The results of the talks would be analysed at a separate meeting between USA trade representative Robert Lighthizer and Chinese Vice-Premier Liu He.

"Their economy is slowing much more than I think public data is showing right now", Leland Miller, CEO of China Beige Book, said on Bloomberg TV on Tuesday. -Chinese talks aimed at ending a costly tariff battle wrapped up Wednesday in an optimistic atmosphere after President Donald Trump said they were "going very well!".

Trump, who has been accusing China of indulging in unfair trade practices contributing to the huge trade deficit amounting to $375 billion, on January 8 said the trade talks with Beijing were going on "very well".

"The main thing is the administration's implied progress on talks with China - that's something that market sees as very important", said Rick Meckler, partner at Cherry Lane Investments.

"Asian stocks jumped after trade talks were extended for an unscheduled third day, fueling hopes that the world's two largest economies may soon reach a trade deal, putting an end to months of tariffs on each other's goods", reports NPR's Shanghai-based correspondent Rob Schmitz.

Some analysts say that China - Pyongyang's key diplomatic ally and main source of trade - could use Kim's visit as a bargaining chip in the USA trade talks.

"While OPEC is expected to cut its output in 2019 in an attempt to balance the market, U.S. production should maintain its upward momentum", the bank said. Yet neither has indicated its stance has changed since a December 1 agreement by Presidents Donald Trump and Xi Jinping to postpone further increases.

The US team is led by deputy US trade representative Jeffrey Gerrish, and includes under secretaries from the US Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from the White House.

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Chinese foreign ministry spokesman Lu Kang said Kim's visit and the trade talks were "two separate matters".

Lu said the two countries have agreed to hold "positive and constructive" discussions.

Without a resolution, punitive U.S. duty rates on US$200 billion in Chinese goods are due to rise to 25 per cent from 10 per cent on Mar 2. In recent weeks, China has showed some signs of flexibility or acceding to the American demands. Prior to the meeting, China made a number of concessions to US demands including temporarily cutting punitive tariffs on USA -made cars, resuming soybean purchases, promising to open up its markets for more foreign investment, and drafting a law to prevent forced technology transfers.

The president believes slapping import tariffs on Chinese goods will raise their price versus American equivalents, giving United States companies the edge when selling products to domestic consumers.

Trump imposed import tariffs on hundreds of billions of dollars of Chinese goods past year and has threatened more to pressure Beijing to change its practices on issues ranging from industrial subsidies to intellectual property to hacking.

China is now America's largest goods trading partner with $635.4 billion in total (two way) goods trade during 2017. The danger is import tariffs drive up the price of goods for consumers and trigger an economic slowdown. "China has the good faith, on the basis of mutual respect and equality, to resolve the bilateral trade frictions".

"China is determined to bring the trade war to an end", The Economist has reported. Services exports were $57.6 billion; services imports were $17.4 billion.

Everything is slotting neatly into place for peace to be declared in the trade war between the United States and China.

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