Optimism rises as U.S.-China trade talks conclude

Optimism rises as U.S.-China trade talks conclude

The latest round of trade talks between the United States and China focused on Beijing's pledge to purchase more US goods in an attempt to alleviate tensions between the two nations, the Office of the United States Trade Representative (USTR) said on Wednesday.

The greenback was down almost 0.2 percent against the euro at $1.1560. In a Tweet Tuesday morning, President Donald Trump said the talks were "going very well!".

Without a resolution, punitive USA duty rates on $200 billion in Chinese goods are due to rise to 25 percent from 10 percent on March 2. Since then, the two countries have exchanged several rounds of trade tariffs, levying duties of hundreds of billions of dollars.

The negotiations "enhanced mutual understanding and laid the foundation for resolving issues that each is concerned about", it said.

"We can confidently say that enough progress was made that the discussions will continue at a higher level", said Craig Allen, president of the U.S.

Also Tuesday, North Korean leader Kim Jong-un arrived in Beijing in a possible effort to co-ordinate with the North's only major ally ahead of a possible meeting with Trump.

A multi-day rally in risk assets continued overnight after minutes from the Fed's December meeting showed a range of Fed policymakers said last month they could be patient about future interest rate increases and a few did not support the central bank's rate increase that month.

While Beijing could take "easy steps" like importing soybeans, cotton and liquefied natural gas from the United States, there would be greater difficulties on the technology front, including China proving its commitment to intellectual property rights with penalties on violators and addressing U.S. restrictions on China's electronic components, Pang said.

"China's ability to use (North Korea) as leverage has diminished considerably since Trump opened his own channel to Kim", she said. "As for whether this move has any impact to the ongoing China-U.S. trade consultations.to properly resolve existing issues of all kinds between China and the U.S.is good for the two countries and the world".

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USA and Chinese envoys extended trade talks into a third day Wednesday after President Donald Trump said negotiations aimed at ending a tariff war were "going very well!".

Beijing has tried in vain to recruit France, Germany, South Korea and other governments as allies against Trump, but they have echoed US complaints about Chinese industrial policy and market barriers.

Beijing has tried to defuse pressure from its trading partners for more sweeping changes by offering concessions on investment regulations and stepping up purchases of American soybeans, natural gas and other exports. Forecasters expect American orders to slump this year.

Beijing has said it will not give up ground on issues it conceives as core.

The extra day of talks came amid signs of progress on issues including purchases of US farm and energy commodities and increased access to China's markets.

The standoff also reflects American anxiety about China's rise as a potential competitor in telecommunications and other technology.

"I think China wants to get it resolved". "It's probably going to take a little longer". They complain China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged.

"China is determined to bring the trade war to an end", The Economist has reported. It included agriculture, energy, commerce, treasury and State Department officials.

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