Exports down 8.8% in February | Economics

U.S. President Donald Trump and China's President Xi Jinping

U.S. President Donald Trump and China's President Xi Jinping

"It hurts the interests of the US, China and the world", he said.

Mr Trump is expected to lessen demands on the thornier issues of intellectual property theft and subsidies for China's state-owned companies to protect the U.S. stockmarket.

Trump postponed a sharp USA tariff hike slated for early March as the talks progressed, but both Washington and Beijing have kept previous duties in place.

Chinese officials are feeling optimistic about the state of trade negotiations with the USA, after the White House chose to hold off on raising tariffs.

On Thursday, automotive chipmaker Renesas Electronics Corp said it plans to halt production at six plants in Japan for up to two months this year as it braces for a further slowdown in Chinese demand.

A more accommodative stance from central banks, an easing of trade tensions and China's measures to underpin growth may also help spur a better outlook later, said Patrick Bennett, head of macro strategy for Asia at Canadian Imperial Bank of Commerce in Hong Kong.

While US officials once expressed a desire to force major changes to China's industrial system as part of a grand trade bargain, Branstad seemed to downplay those expectations in his interview with The Wall Street Journal.

But there have been conflicting comments from Washington and Beijing on the negotiations.

The Chinese government is targeting economic growth of 6.0 to 6.5 percent in 2019, Premier Li Keqiang said at Tuesday's opening of the annual meeting of parliament, a lower target than set for 2018. "This is to find common ground".

China does not systematically give subsidies to its state-owned firms, said the head of its state assets regulator on Saturday, when asked about worldwide concerns China adopts implicit preferential policies for state-owned enterprises.

When asked about subsidies for China's state companies, which are believed to be one of Washington's key concerns, another Chinese official denied they existed at all.

President Donald Trump said he remains optimistic but will not agree to a pact with China unless it is a "very good deal".

In fact, Trump, who had repeatedly touted himself as "the tariff man", had pledged before getting elected to deduce tariffs by turning down unfairly traded imports and negotiating free trade agreements.

Both sources spoke on condition of anonymity as they were not authorized to speak to the media.

Trump has vowed that any deal will result in large Chinese purchases of American goods, including soybeans and energy like oil and gas.

Wang did not answer questions from reporters on whether Xi would go to Mar-a-Lago.

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