US, China seek end to trade war through talks | Money Talks

Crude oil is dispensed into a bottle in this illustration

Crude oil is dispensed into a bottle in this illustration

China - Pyongyang's sole diplomatic ally and main source of trade - said it would not use Kim's visit as a bargaining chip in the United States trade talks. Hong Kong's main market index rose 2.3 percent while Tokyo was up 1.3 percent.

Chinese foreign ministry spokesman Lu Kang said Kim's visit and the trade talks were "two separate matters".

The truce came after both sides imposed several rounds of tariffs in 2018. It is the first time that officials have met for face-to-face talks since President Trump and President Xi agreed a 90-day ceasefire in December.

President Trump took to Twitter Tuesday to give his take on current negotiations, declaring talks with China are going very well.

The U.S. stock market was supported by advances by technology and other trade-sensitive sectors. "The US is very clear about China's stance".

The talks also focused on "China's pledge to purchase a substantial amount of agricultural, energy, manufactured goods, and other products and services from the US" according to the USTR.

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.

The Global Times commentary said China's growing economy means it can "carry out a more intense boycott" of trade with the United States if needed.

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.

USA companies also want action on Chinese policies they complain improperly favor local companies.

After extending to an unexpected third day, trade talks between USA and Chinese officials have concluded, a spokesman for the Chinese foreign ministry announced Wednesday morning. The 28-nation trade bloc has filed a challenge in the World Trade Organization against Chinese licensing rules it says hinder foreign companies from protecting and profiting from their technologies.

Companies that have been disappointed by Beijing's failure or delays in carrying out commitments want an enforcement mechanism with "some kind of penalty for not doing what they promised", said Parker.

"The U.S. feels uncomfortable with China's rapid development, and can't adapt to its own declining influence", wrote Chen Yonglong in the state-run China Daily".

If US crude futures can break through the $55 level, "you're going to see real yields probably lower". If the talks were successful, they could lead to discussions in Washington between senior officials of both countries, NPR has reported. They complain China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged.

Still, cooling economic growth in both countries is increasing pressure to reach a settlement.

The American delegation was led by one of Lighthizer's deputies, Jeffrey D. Gerrish.

The American delegation is led by a deputy US trade representative, Jeffrey D. Gerrish, and includes agriculture, energy, commerce, treasury and State Department officials.

Chinese growth fell to a post-global crisis low of 6.5 per cent in the quarter ending in September. There are concerns that US growth, 3.4 percent in the third quarter, is also slowing even as the country's unemployment rate remains almost at a five-decade low.

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