Xi tells Trump China ready to work together on G20 terms

Xi Jinping

Chinese President Xi Jinping

China has launched a lot of measures to boost domestic demand and tried to open its market wider, providing more chances and broader prospects of cooperation for foreign businesses, he said.

The two countries are the world's largest trade partners.

"The green light from Chinese customs, indicated in a statement posted on the customs authority's website on Friday, comes in the run-up to talks between the countries in January after U.S. President Donald Trump and Chinese President Xi Jinping agreed to a moratorium on higher tariffs that would affect trade worth hundred of billions of dollars", Reuters reported.

The U.S. tech industry is also being hard hit by Trump's tariffs.

China has been locked in a bruising trade war with the United States and is also facing a slowing domestic economy.

One American economist said the US and Chinese economies stand to lose more than $2.9 billion annually because of China's tariffs on soybeans, corn, wheat and sorghum alone.

Despite Monday's advance, equities ended the year largely in the red, victims of investor anxiety over trade tensions and slowing economic growth.

"It's something that's crying for a resolution", Tyner said.

Total U.S. agricultural export shipments to China for the first 10 months of 2018 fell by 42 percent from a year earlier to about $8.3 billion, according to the U.S. Department of Agriculture. That was down from $9.61-3/4 for all of December past year. Meanwhile, Mr. Trump stated he could intervene in the case if he thought it would help secure a trade deal with China, which some legal experts said could undermine extradition efforts if Ms. Meng's lawyers argue successfully that the case against her is politicized.

"You could nearly put another $100 million on top of this because all commodity prices are down and that affects North Dakota farmers indirectly", Watne said.

US stocks, beaten down recently by concerns about an escalating tariff war, got a boost from news of the upcoming talks in Beijing.

Chinese soybean mills, on the other hand, front-loaded soy purchases ahead of the tariffs. He believes that China will make greater progress in national development and gain more respect from the world.

The two countries agreed last month to a 90-day temporary ceasefire in their bitter trade war to give them time to hold fresh talks to try and end a dispute that has seen them impose increasingly severe tariffs on each other's goods. "The buying will have a very limited impact on the market".

Last week, China's commerce ministry has said the USA and China have, on a phone call, made plans for a face-to-face consultations on trade in January. "We look for market risk to weigh on investor sentiment into the new year until catalysts for a rally of some material significance appear on the scene", he added.

"For markets to move higher next year, we're going to have to resolve those issues", Kravetz said. The CAC 40 of France finished the year down 11 per cent. Britain's FTSE 100 lost 12.5 per cent. Germany's DAX ended the year in a bear market, down 22 per cent from a high in January and 18 per cent from the start of the year.

"While volatility pales compared to what it was during the recession of 2008-2009, we had gotten used to significantly lower volatility in 2017, " said Howard Silverblatt of S&P Dow Jones Indices.

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