Trump Lauds Progress as Day Two of Beijing Trade Talks Wrap Up


China-U.S. trade talks restart as warship clouds negotiations

While both sides have expressed an interest in settling the fight, China complained of a sighting of a USA warship in what it said were Chinese waters.

Hopes that the U.S. and China would strike a deal, ending their months-long trade deal led to an index of world stocks rising on Tuesday, while the dollar, which hit an 11-week low on Monday, rebounded as the euro weakened on concerns about a slowdown in the euro zone economy.

"We're looking at commentary from the Fed suggesting they're going to be flexible around rate hikes, there's positive commentary on the United States trade war", said Christopher Anselmo, director at Nasdaq IR Intelligence.

The more intractable issues related to structural reforms to China's industrial policies, as well as enforcement of any pledges, have been raised by officials on both sides, though there is little clarity on details.

The US delegation, led by deputy USTR Jeffrey Gerrish, includes representatives from the departments of energy, agriculture, treasury and commerce.

Increased purchases by China of United States soybeans, oil, liquefied natural gas and financial services are viewed as easier to achieve than major changes to China's industrial policies aimed at transferring USA technology to Chinese firms.

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.

U.S. President Donald Trump and Chinese President Xi Jinping in December agreed to put on hold a spiraling trade dispute of tit-for-tat import tariffs on hundreds of billions worth of goods.

Chinese Foreign Ministry spokesperson Lu Kang confirmed during a press conference later that day that the USA sent a vessel into the area "without permission from the Chinese side".

But it again rejected Trump's claim that Beijing is engaging in trade talks due to what he described as China's slumping economy.

China-U.S. trade talks restart as warship clouds negotiations

U.S. Secretary of State Mike Pompeo told CNBC that the United States and China are "making progress" on trade.

US Commerce Secretary Wilbur Ross said Monday that China's economy is more vulnerable to the fallout from the trade war.

Trump imposed tariff increases of up to 25 percent on $250 billion of Chinese imports over complaints Beijing steals or pressures companies to hand over technology.

"This trade fight couldn't have come at a worse time for China". The move prompted China to increase tariffs on United States dollars 110 billion of U.S. goods.

One Chinese official reportedly described the negotiations as "constructive".

A private-sector source familiar with the talks said this could indicate that more detailed discussions were likely taking place.

China is very particular about hierarchy, Prasad explained.

The editor-in-chief of China's state-run Global Times tabloid, Hu Xijin, said on Twitter earlier that the extension of the talks, originally scheduled for two days, "sends a signal". -Chinese relations. They say Beijing's goal probably is to show enough progress to persuade Trump to extend his deadline.

Chinese growth fell to a post-global crisis low of 6.5 percent in the quarter ending in September. Among many things, the Communist leader pledged to buy more US agricultural and industrial products, allow increased access to Chinese markets, and abide by more cybersecurity and property theft rules. There is no question that the Chinese want the deal, they need the deal.

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