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China Trade Talks Wrap Up After Extending To 3rd Day

China Trade Talks Wrap Up After Extending To 3rd Day

Negotiators from the US and China had extended their trade talks to a third day, which investors took as a sign the trade discussions were productive even though the two sides didn't announce any breakthroughs.

The three-day talks in Beijing that wrapped up on Wednesday were the first face-to-face negotiations since U.S. President Donald Trump and his Chinese counterpart, Xi Jinping, met in Buenos Aires in December and agreed on a 90-day truce in a trade war that has disrupted the flow of hundreds of billions of dollars of goods. A statement from the Office of the U.S. Trade Representative said negotiators will "report back to receive guidance on the next steps".

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

"It's been a good one for us", Ted McKinney, U.S. undersecretary for trade and foreign agricultural affairs, said at the end of the vice-ministerial level talks.

The U.S. Trade Representative said China's delegation pledged to buy more energy and agricultural products and manufactured goods from the U.S.

Originally meant to last only two days, continuing developments prompted negotiators to extend the talks for another day. But aside from some soybean purchases, there has been little sign of big-ticket acquisitions.

World stocks extend their gains to hit a near-four week high and oil prices rose on Wednesday on optimism that the United States and China may be inching towards a trade deal, soothing fears an all-out trade war could hit a slowing global economy.

It is unclear how much progress on those issues negotiators can make in 90 days, nor how much progress Trump would want to see to stop him from further escalating the trade war. -China relationship for years. That throws into doubt the possibility of a trade agreement based largely on Chinese promises to raise US imports.

National parks forced to close, hazards mount at others amid government shutdown
Most visitors were being respectful of the desert wilderness and park facilities, Joshua Tree's superintendent David Smith said. Laretig admits there are plenty of things he'd rather do than clean up the national park, but he says it's worth the effort.

President Donald Trump imposed tariff increases of up to 25 percent on $250 billion of Chinese imports over complaints Beijing steals or pressures companies to hand over technology. Advocates of a quick deal with Beijing, including treasury secretary Steven Mnuchin and White House economic adviser Larry Kudlow, have used the markets jitters as a cudgel to press their case, the people said.

The paper said in an editorial that the dispute harms both countries and disrupts the worldwide trade order and supply chains.

However, a USTR statement emphasized American insistence on "structural changes" in Chinese technology policy, market access, protection of foreign patents and copyrights and cyber theft of trade secrets.

While Beijing could take "easy steps" like importing soybeans, cotton and liquefied natural gas from the U.S., there would be greater difficulties on the technology front, including China proving its commitment to intellectual property rights with penalties on violators and addressing U.S. restrictions on China's electronic components, Pang said.

The U.S. 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 U.S. frustration that the Chinese have failed to live up to past commitments.

Big spending on commodities and goods would send a positive signal on China's intent to work with the United States, but would do nothing to resolve the US demands that require hard structural change from China. "We have firm confidence in the strong long-term fundamentals of the Chinese economy".

China has also cut tariffs on USA cars, dialled back on an industrial development plan known as "Made in China 2025", and told its state refiners to buy more US oil.

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