USA open to 'short term' China trade deal: Kudlow

USA open to 'short term' China trade deal: Kudlow

-China trade deal talks resume this week in Washington. He told reporters that deputy level talks are underway ahead of principal level talks at the end of the week.

In Asian trading, Japan's benchmark Nikkei 225 shed 0.2% to finish at 21,375.25 while Australia's S&P/ASX 200 rose 0.7% to 6,563.60. There is no onshore trading as Monday is the last day of China's holiday break.

The Japanese yen, often seen as a safe-haven currency in times of market turmoil, traded at 106.87 per US dollar after strengthening from levels above 108 in the previous trading week.

The report was called "solid" because it showed that underlying economic momentum in the US remains strong. Non-farm payrolls also grew in September, but slightly less than expected. The U.S. unemployment rate fell to 3.5% in September to reach the lowest since December 1969.

Investors will soon turn their focus to third-quarter earnings, which begin next week with USA banks reporting, and many hope to see more clarity on the impact of the trade war on corporate America.

The market is coming off a three-week skid following a mixed batch of economic data that stoked investors' worries that a slowdown in USA economic growth could worsen.

But that did little to change market expectations that the Fed will cut likely interest rates at its next policy review on Oct 29-30 to support the economy.

As the USA dollar has lost momentum, the euro stood at US$1.0982, up 0.02 per cent in Asia, recovering little by little after having hit a near 2 1/2-year low of US$1.0879 last Tuesday. But what we're doing is we're negotiating a very tough deal.

Trump also publicly asked China last week to investigate the Bidens.

The talks will focus on key areas where the Americans have made far reaching demands since past year: intellectual property rights, the forced transfer of proprietary technologies, agriculture and enforcement, the statement said.

Bloomberg reported that Chinese officials are signalling they are increasingly reluctant to agree to a broad trade deal pursued by US President Donald Trump.

Vice Premier Liu He, who will lead the Chinese contingent in high-level talks that begin Thursday, told visiting dignitaries he would bring an offer to Washington that won't include commitments on reforming Chinese industrial policy or government subsidies, which were the target of longstanding U.S. complaints and one of Trump's core demands, one of the sources said. Trump has explicitly linked the trade talks to Beijing's handling of the Hong Kong protests and preservation of the territory's rights.

All this story does is highlight how hard reaching a trade deal will be.

Related Articles

  • Second Trump whistle blower decides to come forward: US media

    Second Trump whistle blower decides to come forward: US media

    Special Representative for Ukraine Negotiations Kurt Volker challenged another claim in the whistleblower's complaint . Mitt Romney, R-Utah, whose impeachment the president demanded Saturday after Romney criticised him.
    Ohio State leads Michigan State 3-0

    Ohio State leads Michigan State 3-0

    Tight end plays are a highly featured part of the Spartans attack and both Seybert and Dodson have the hands to make it work. He ranks second in the nation in total rushing yards (654) and averaged 130.8 yards per game, third-best in the FBS.
    Breast cancer awareness: Share your survival story

    Breast cancer awareness: Share your survival story

    According to the expert, breast cancer cases are far fewer in men but are usually identified when the disease has advanced. The study found the survival rate for men diagnosed with breast cancer is 46%, compared to 86% for women.
  • New PS4 update brings Remote Play to all Android devices

    New PS4 update brings Remote Play to all Android devices

    That's something a lot of us can get excited about, especially because iOS users have had Remote Play since last March. Remote Play is already available on iOS, but now Android players will be able to stream games to their phone too.
    Man United drops to 12th in EPL after losing at Newcastle

    Man United drops to 12th in EPL after losing at Newcastle

    It doesn't help having a meeting tomorrow. "Away from home, they're not set up to win in a sense of the mentality", Neville said. I don't know what is happening, we can not score even one goal in two games".
    Mustached comedian Rip Taylor dies at 84

    Mustached comedian Rip Taylor dies at 84

    He also had a habit of using props in his bits, including confetti. with which he would shower himself and the audience. Success begat more success, and Taylor ended up on tour with Judy Garland and Eleanor Powell in Las Vegas in 1966.
  • PayPal confirm they are leaving the Libra Association

    PayPal confirm they are leaving the Libra Association

    Along with privacy concerns, Waters' has cited the potential for Libra to be used in money laundering and other financial crimes. The Libra Assn., a group of companies Facebook has assembled to oversee the cryptocurrency , has 28 founding members.
    What does Japan's bonus point win mean for Ireland?

    What does Japan's bonus point win mean for Ireland?

    Deep in time added on, Japan summoned one more thrust from its outstanding forwards and won possession back through a free kick. It scrummed again, and moved the ball left to the short side, where Matsushima slipped through a half-gap.
    Hina Khan to enter Bigg Boss 13?

    Hina Khan to enter Bigg Boss 13?

    For Rashami, even if Asim is getting out of the task, it was fine because he didn't want his skin to be burnt. Salman asks the housemates to take a housemates name who they have a complain about and burts their balloons.
  • Iran says Chinese state oil firm withdraws from $5B deal

    Iran says Chinese state oil firm withdraws from $5B deal

    Iran denies being responsible and has warned any retaliatory attack targeting it will result in an "all-out war". China along with Russian Federation is one of the biggest diplomatic backers and economic partners of Iran .
    Pressure on Pochettino as Spurs lose 3-0 at Brighton

    Pressure on Pochettino as Spurs lose 3-0 at Brighton

    The Argentine brushed off the suggestion that he had taken the club as far as he could, saying it was a "moment to stay together". After a poor start to 2019/20 many are questioning Pochettino's future, but he insists he does not fear the sack.
    Democrats subpoena White House, Pence over Ukraine documents

    Democrats subpoena White House, Pence over Ukraine documents

    Democrats have warned that the Trump administration's obstruction of the investigation is itself a potentially impeachable office. Most Republicans are standing squarely behind Mr Trump, though two Republican senators have spoken out against the president.