China says U.S. trade talks 'laid foundation' to resolve concerns

10 January, 2019, 10:55 | Author: Kevin Carter
  • What hope for markets in the US-China trade talks?

-China talks raised hopes of easing trade tensions between the two superpowers, while OPEC-led crude output cuts also provided support.

-Chinese talks aimed at ending a costly tariff battle wrapped up Wednesday in an optimistic atmosphere, with President Donald Trump saying they were "going very well!".

China says it is trying to protect its own economic interests and has accused the USA of violating worldwide trading rules.

Three days of talks with the US have "laid the foundation" for resolving the bilateral trade row between the world's two largest economies, China's Ministry of Commerce said Thursday.

The dollar tumbled to its lowest level since October after the Fed expressed caution about future rate hikes, and as investors reduced safe-haven bets due to optimism about U.S. Stocks rose globally after the two economic powers appeared to inch closer to an agreement, with the S&P 500 Index rising for a fourth day to the highest in nearly a month.

Data from the U.S. Energy Information Administration (EIA) showed domestic crude stockpiles fell less than expected last week.

China made that pledge after the Xi-Trump meeting in Buenos Aires, when USA officials said China would start buying immediately.

Washington has been clamouring for an end to the forced transfer - and even theft - of American technology, as well as steep government subsidies for Chinese companies.

But U.S. indexes posted modest gains. The New York Times reported that, according to unnamed U.S. sources, American officials pressed China for more details on how it will guarantee its offers will be implemented. "Progress should include a mechanism for the removal of tariffs and measurable, commercially meaningful outcomes", the U.S.

"China's ability to use (North Korea) as leverage has diminished considerably since Trump opened his own channel to Kim", she said. Trump has complained repeatedly about the US trade deficit with China, which past year likely exceeded the 2017 gap of $336 billion.

More news: Wolves v Liverpool: Reds a strong bet to repeat recent Molineux win

The USTR statement didn't say whether progress had been achieved on its main concerns.

Beijing on Friday cut bank reserve requirements amid slowing growth at home and pressure from the USA tariffs.

Three days of U.S.

"The talks ... focused on China's pledge to purchase a substantial amount of agricultural, energy, manufactured goods, and other products and services from the United States", the USTR said in its statement.

Later this month, Lighthizer is expected to meet with Vice Premier Liu He, Xi's top economic aide who is leading negotiations for China.

Key decisions on some of the tougher issues are expected to be left for future rounds of talks, such as USA complaints that Beijing's policies force American companies to hand over technology and unfairly boost Chinese firms with subsidies.

Chinese officials have suggested Beijing might alter its industrial plans but reject pressure to abandon what they consider a path to prosperity and global influence.

In return, the US will agree to wind down exorbitant tariffs now placed on Chinese imports. US negotiators are also taking steps to ensure the Chinese government actually follows through on its promises. Asian bourses saw a strong finish with Japan's Nikkei and China's blue-chip CSI 300 closing up 1 per cent while the tech-heavy South Korean KOSPI jumped almost 2 per cent.

"If it is immediately after these talks, it really means that something executable is going to happen; if it is next month or so, then you have a feeling that things are not really that executable for the moment".

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.

Recommended:

  • Taxpayers Will Pay for Wall, White House Aide Acknowledges

    Taxpayers Will Pay for Wall, White House Aide Acknowledges

    Over Caesar salad and iced tea, Trump projected confidence that his strategy was working, Fox News Channel's Bret Baier reported. The White House team included the added scanners and manpower at ports of entry that Democrats support.
    Wait, what? Hyundai reveals wacky 'walking' auto  concept!

    Wait, what? Hyundai reveals wacky 'walking' auto concept!

    This means it can function like a traditional vehicle, capable of traveling at highway speeds with passive suspension. By blending electric vehicle and robotics technology, the Hyundai Elevate feels like a step toward sci-fi.
    Huawei Demotes Employees For Not Using Its Phones For Tweeting

    Huawei Demotes Employees For Not Using Its Phones For Tweeting

    Huawei only sent out a memo which attributed the issue to " procedural incompliance and management oversight ". The blunder was first spotted by popular YouTuber Marques Brownless ( also known as MKBHD).
  • UK's Heathrow Airport suspends flights after drone sighting

    UK's Heathrow Airport suspends flights after drone sighting

    Just before 6pm local-time, a spokesman for Heathrow Airport said they had stopped departures as a precautionary measure. It hosts 81 airlines that fly to 204 destinations in 85 countries, and its most popular destination is NY .
    Airports seeing rise in TSA employees calling off work

    Airports seeing rise in TSA employees calling off work

    Airport officials said there no screening delays at JFK, Chicago's O'Hare and Midway airports, or Miami International Airport. Hydrick Thomas, president of the national TSA employee union, told CNN that up to 170 TSA employees at New York's John F.
    Apple tipped to release three-camera 'iPhone XI' in 2019

    Apple tipped to release three-camera 'iPhone XI' in 2019

    The ToF or Time of Flight technology is based on the time it takes for light to bounce off an object to create a 3D map. Frankly, I think the setup looks ugly and doesn't seem to borrow from the company's elegant industrial design thinking.
  • Arsenal to play Manchester United in FA Cup 4th round

    Arsenal to play Manchester United in FA Cup 4th round

    Oleksandr Zinchenko says Manchester City were hungry for even more goals in Wednesday's 9-0 win over Burton Albion. We'll probably never be here again and that is how big this achievement is.
    Bolsonaro Considers Hosting US Military Base In Brazil

    Bolsonaro Considers Hosting US Military Base In Brazil

    On Tuesday, in his first public speech as president, he vowed Brazil's green-and-yellow flag "will never be red". Bolsonaro had wavered on the embassy move after saying in early November he meant to go through with it.
    Trump to Apple: 'Make your product in the United States'

    Trump to Apple: 'Make your product in the United States'

    While usually Apple would be celebrating another successful holiday season, things didn't quite go to plan this time around. As of 15:30 GMT, Netflix had gained 5.9 percent in value while Intel was not far behind in gains after rising 4.8 percent.
  • Chance the Rapper apologizes for working with R. Kelly

    Chance the Rapper apologizes for working with R. Kelly

    While calling into Hunter's show, dream also spoke about the legal challenges surrounding Surviving R. Kelly . "He would really manipulate my mind".
    Brahim Diaz deal confirmed as teenager joins from Manchester City

    Brahim Diaz deal confirmed as teenager joins from Manchester City

    The Premier League champions are believed to think that is an excellent deal for a player who's contract runs out in the summer. Madrid are said to have purchased Diaz for an initial fee of £15.5m which could rise by a further £6m in add-ons.
    4th Test: Australia out for 300; India enforce follow-on

    4th Test: Australia out for 300; India enforce follow-on

    India's Kuldeep Yadav, second left, celebrates with teammates after taking the wicket of Australia's Nathan Lyon. Australia, resuming at 236-6, quickly lost 3-22 a day after their top order folded in a collapse of 3-24.


Popular

Former 49ers defensive coordinator Vic Fangio named Broncos head coach
In an appearance on Xfinity Monday Live , defensive lineman Shelby Harris said he's a fan of the way Fangio coached in Chicago. Fangio takes over as the Broncos' head coach after Vance Joseph was sacked after compiling a 11-21 record in two seasons.

Erdogan Slams Bolton, Ignores US Calls to Protect Kurdish Safety
"It's not possible for us to accept, to swallow the message John Bolton gave from Israel", he said. And Erdoğan isn't the only one that's upset over the Trump administration's blurred stance.

New Captain Marvel teaser is all sass, Fury and explosions
We are just weeks away from Brie Larson's debut performance in the Marvel Cinematic Universe as Carol Danvers, a.k.a. All of the Marvel characters have flaws to them, all of them have a deep humanity to them.

Game of Thrones Final Season First Trailer
New seasons of Veep , 2 Dope Queens , and Barry are also on the way, along with new shows like Euphoria and Catherine the Great . This included a very short clip in which the Lady of Winterfell , Sansa Stark , meets the Mother of Dragons, Daenerys Targaryen.

Music films and Lady Gaga shine at Golden Globes
During his acceptance speech he thanked his late father, Lloyd Bridges, and pulled up his sleeve to reveal his dad's cuff links. Malek thanked Queen members Brian May and Roger Taylor, as well as Mercury for providing the role of a lifetime.

Trump Confident About Reaching Trade Deal with China
So far, China and the U.S. have slapped tariffs on $300 billion worth of each other's goods. USTR said the U.S. delegation would also include under secretaries from the U.S.

Bulls trade Justin Holiday to Grizzlies for 2 players, draft picks
The Bulls are in a dealmaking mode, shopping center Robin Lopez and forward Jabari Parker in trade talks, sources told ESPN. This is yet another example of the Bulls' front office demonstrating utter incompetency to make the right decision.

Bautista topples Djokovic, will face Berdych in Qatar final
The Italian player took advantage of Guido Pella's retirement on Wednesday, Cecchinato is coming from the best season in his career.

Reds now on City's level, says Klopp despite loss
So it has proved by early January, a game in hand and a head-to-head victory having brought City right back into the picture. At the beginning of December they defeated title-chasing Chelsea, just days after they'd lost to Cardiff.

Trump criticizes Democrats’ intention to raise issue of his impeachment
Trump tweeted late Saturday that he is going to Camp David Sunday to discuss border security and other topics with senior staff. Democratic Senator Doug Jones, appearing on the same programme, said the White House has not presented a plan to use the money.