What hope for markets in the US-China trade talks?

What hope for markets in the US-China trade talks?

What hope for markets in the US-China trade talks?

The talk has enhanced mutual understanding and laid a foundation for addressing each other's concerns, it said.

The two sides will keep in close contact, it added. In a Tweet Tuesday morning, President Donald Trump said the talks were "going very well!".

If no deal is reached by March 2, US tariffs on $200 billion Chinese goods will rise from 10 percent to 25 percent.

Some degree of optimism followed a USA trade delegation home from Beijing on Wednesday, after the most comprehensive trade negotiations held yet between the world's two largest economies since a tit-for-tat tariff battle ensued a year ago.

The U.S. wrapped up three days of mid-level talks with China in Beijing on Wednesday, noting a commitment by President Xi Jinping's government to buy more U.S. agricultural goods, energy and manufactured products.

Chinese foreign ministry spokesman Lu Kang said a one-day extension in talks showed both sides are serious about the negotiations.

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!".

So far, the USA side has described the exchanges in a positive light.

The US smartphone maker has felt the pinch of the bruising trade spat, and warned that 2018 revenues would miss its forecast - in large part due to a slump in iPhone sales in China. -China Business Council said in a statement.

The talks that started Monday were the first face-to-face meeting since Trump and his Chinese counterpart, Xi Jinping, agreed December 1 to suspend further punitive action against each other's imports for 90 days while they negotiate over the fight sparked by American complaints Beijing steals or pressures companies to hand over technology.

Still, the USA statement said the negotiations dealt with the need for any deal with China to be "subject to ongoing verification and effective enforcement" - a comment that reflects US frustration that the Chinese have failed to live up to past commitments.

"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.

USA stocks surged Wednesday on optimism that the midlevel talks in Beijing will be followed up with discussions between higher-ranking US and Chinese officials.

Washington has been clamouring for an end to the alleged forced transfer - and even theft - of American technology, as well as steep government subsidies for Chinese companies. The S&P 500 Index has fallen about 7 percent since Trump and Xi agreed on a 90-day truce at their meeting in Argentina last month.

"The earlier escalation of the trade conflict between the USA and China and souring bilateral relations appear to have given way to a more conciliatory approach since early December", he wrote in a note Thursday.

Without a resolution, punitive U.S. duty rates on $200 billion in Chinese goods are due to rise to 25 percent from 10 percent on March 2.

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