Xi strikes conciliatory tone on trade but offers few concessions

ALUMINIUM

ALUMINIUM

Dealers pounced on the comments from Xi and Trump as a sign that a possible trade war between the world's top two superpowers can be averted, after weeks of nail-biting uncertainty.

"It's a showcase of the capability of the USA armed forces not only by sea but also by air", Philippine army Lt. Gen. Rolando Bautista said after joining a tour of the 97,000-ton carrier.

US stocks closed in the green on Tuesday as comments from China's president eased trade war concerns.

"We are encouraged by President Xi's words and his kind words", Sanders said before stipulating that the Trump administration wants to see "concrete actions from China" and that they will "continue moving forward in the process and in the negotiations until those happen".

"The current dynamics between the two countries make it hard to sit down and negotiate, " says Zhiwei Zhang, chief China economist at Deutsche Bank. Chinese firms added about 7,400 US employees to their payrolls in 2017, the smallest increase in five years, according to a related report issued Tuesday by Rhodium Group and the US-China committee.

However, the U.S. -China trade conflict is not all bad news for Vietnam, as the country may become a more attractive investment destination compared to China due to higher U.S. tariffs, according to some analysts.

"We hope developed countries will stop imposing restrictions on normal and reasonable trade of high-tech products and relax export controls on such trade with China", he said, without naming any specific country.

Combined turnover on the two bourses rose to around 485.2 billion yuan (about 77.1 billion US dollars) from 436.8 billion yuan on the previous trading day.

"He has made a unilateral move without even going into negotiations" with the USA, said Wang Huiyao, founder of the Center for China and Globalization, a public policy think tank in Beijing.

As fighter jets streaked overhead, a USA aircraft carrier sailed Tuesday through the disputed South China Sea - in the latest display of America's military might after China built a string of islands with military facilities to assert its claims in the strategic waters, sparking regional alarm. But the current dynamics between the two countries make it hard to sit down and negotiate.

Kudlow further stated that members of the administration were discussing putting together a "list of suggestions to China as to what we would like to have come out of this" to provide to the Chinese.

But the stakes are higher in the dispute over China's aggressive technology policies.

The US Congress is also working on legislation that would give the federal government more power to review business deals for national security risks. He also complained about limits other governments have put on trade with China.

President Donald Trump on Tuesday praised the "kind words" from Chinese leader Xi Jinping and pledged "great progress" in the looming trade dispute between the world's largest economies.

We estimate the size of U.S. business interests in China, using data from the U.S. Bureau of Economic Analysis (BEA).

Chinese investment in the U.S. plunged past year as tensions between the two countries mounted.

"But China has shown it is willing to meet hard with hard ..."

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