Markets

China Trade Talks Wrap Up After Extending To Third Day

China Trade Talks Wrap Up After Extending To Third Day

China is strong and has its own needs, said the Global Times, published by the ruling Communist Party.

On Tuesday, an official Chinese newspaper warned Washington "cannot push China too far" and must avoid a situation that "spins out of control".

Three days of US-Chinese talks aimed at ending a costly tariff battle wrapped up Wednesday in an optimistic atmosphere after President Donald Trump said they were "going very well!".

China's foreign ministry confirmed the negotiations had ended in Beijing but declined to comment on the outcome, saying details would be released later. -Chinese relations for years.

However, the official Mr. Trump put in charge of the talks, U.S. Trade Representative Robert Lighthizer, has focused on pressing Beijing to scrap or change rules Washington says block market access or improperly help Chinese companies.

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.

Chinese officials have suggested Beijing might alter its industrial plans but reject pressure to abandon what they consider a path to prosperity and global influence.

Increased purchases by China of United States soybeans, oil, liquefied natural gas and financial services are viewed as easier to achieve than major changes to China's industrial policies aimed at transferring U.S. technology to Chinese firms. After that meeting, top US officials said China had made an additional $1.2 trillion in trade commitments.

"At the beginning of 2018 the global economy was firing on all cylinders, but it lost speed during the year and the ride could get even bumpier in the year ahead, " World Bank Chief Executive Officer, Kristalina Georgieva, said in a semi-annual report released late on Tuesday.




U.S. West Texas Intermediate crude futures on Wednesday gained nearly 5.2 percent, while Brent crude futures were up more than 4.6 percent.

But a more hard question may be whether China agrees to monitoring of such a commitment, a condition that US Trade Representative Robert Lighthizer has said is a prerequisite to any deal. "China does not need to use any other tactics". "It's been a good one..." Both sides have provided scant information about their discussions.

She added that the Trump administration's complaint that China is stealing USA intellectual property is "top of mind" in the negotiations with Beijing.

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

President Trump has said if no deal is reached before the truce expires on March 2, he will increase duties on $200bn worth of Chinese goods from 10% to 25%.

Such a move would likely prompt further retaliation by China, which has already levied tariffs on US goods, further rattling investors who are nervous about a significant slowdown in China's economy.

China's economy was more vulnerable to the fallout from the trade war, he said. US President Donald Trump tweeted that they were "going really well!"

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

The talks are occurring as Chinese growth - 6.5 percent in the July-to-September period - fell to its lowest point in a decade.


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