China Trade War Enters Final Round of Talks With Little Optimisim

President Donald Trump talks to reporters as he departs for a visit to the US southern border area in Texas from the White House in Washington US

President Donald Trump talks to reporters as he departs for a visit to the US southern border area in Texas from the White House in Washington US

The results of the talks are expected to be analysed at a separate meeting between USA trade representative Robert Lighthizer and Chinese Vice-Premier Liu He after which the two sides were expected to announce a decision.

As per the Chinese Commerce Ministry statement, both countries "conducted extensive, in-depth and meticulous exchanges on trade issues and structural issues of common concern, which enhanced mutual understanding and laid the foundation for resolving mutual concerns".

Speaking after the conclusion of the talks, Ted McKinney, the US under secretary for trade and foreign agricultural affairs, told reporters in Beijing that he thought they "went just fine".

But on January 10, China's state-run media provided a hint that the regime could be ready to concede to USA demands.

Both sides have agreed to continuously keep in close contact.

Facing a March deadline, talks aimed at ending a trade war between China and the USA are underway, with the world's two biggest economies expressing optimism over the potential for progress.

'We're negotiating and having tremendous success with China, ' Trump told reporters as he left the White House on a trip to the USA border with Mexico on the 20th day of a partial shutdown of the U.S. government.

China said talks with the USA "laid the foundations" to resolve a damaging trade dispute between the world's two largest economies.

"Asian stocks jumped after trade talks were extended for an unscheduled third day, fueling hopes that the world's two largest economies may soon reach a trade deal, putting an end to months of tariffs on each other's goods", reports NPR's Shanghai-based correspondent Rob Schmitz.

Trump, who has been accusing China of indulging in unfair trade practices contributing to the huge trade deficit with the USA amounting to United States dollars 375 billion, on Tuesday said the trade talks with Beijing were going on "very well".

In a statement Wednesday night, the USTR said the meetings were part of a push to achieve "needed structural changes in China with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft of trade secrets for commercial purposes, services, and agriculture". "China's old saying expresses this best, 'amiability brings wealth.' That is said so correctly!" -China trade dispute. Apple Inc (AAPL.O) rattled global markets last week when it cut its sales outlook, blaming weak demand in China.

The American delegation was led by one of Lighthizer's deputies, Jeffrey D. Gerrish. In recent weeks, China has showed some signs of flexibility or acceding to the American demands.

Such a move would likely prompt further retaliation by China, which has already levied tariffs on USA goods, further rattling investors who are nervous about a significant slowdown in China's economy. China retaliated with tariffs of its own. Exports of Chinese goods to Russian Federation increased 12 percent and amounted to $43.45 billion, while Russia's sales to China surged 44.3 percent to $53.78 billion.

Earlier this week, China approved five genetically modified (GM) crops for import, the first in about 18 months, which could boost its overseas grains purchases and ease United States pressure to open its markets to more farm goods.

"China is determined to bring the trade war to an end", The Economist has reported. US crude, which has jumped 15 percent in 2019, dropped 52 cents to $51.84 per barrel in electronic trading on the New York Mercantile Exchange.

"The earlier escalation of the trade conflict between the US 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.

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