US, Chinese officials extend Beijing trade talks

US, Chinese officials extend Beijing trade talks

Both sides have agreed to continuously keep in close contact it said.

The meetings in China were the first face-to-face talks since Trump and Chinese President Xi Jinping met in Buenos Aires in December and agreed a 90-day truce in a trade war that has disrupted the flow of hundreds of billions of dollars of goods.

The Asian markets reached almost one-month highs on speculation that the world's two largest economies were hammering out a deal, Schmitz said. The person added that it was more hard to determine how to hold China to its commitments to better protect intellectual property.

The two governments have announced no details, but Asian stock markets rose on news of the decision to extend negotiations that originally were planned for two days.

A range of Fed policymakers said last month they could be patient about future interest rate increases and a few did not support the central bank's rate increase that month, minutes from their December 18-19 policy meeting showed.

The two sides held intense discussion at the vice ministerial level from Monday to Wednesday in Beijing.

American negotiators said in a statement Wednesday that there was a focus on discussing purchases of "a substantial amount" of agricultural, energy, manufactured goods and other products and services from the USA by China but did not specify any new deals.

At a press conference on January 10, Commerce Ministry spokesperson Gao Feng said the talks had been "solemn, earnest, and candid", as reflected by the fact that the dialogue was extended by a day. But aside from some soybean purchases, there has been little sign of big-ticket acquisitions.

The U.S. stock market was supported by advances by technology and other trade-sensitive sectors.

USA stocks and European equities jumped as investors awaited developments on trade talks between the world's largest economies.

A day of back-and-forth trading Thursday ended with the fifth gain in a row for US stocks. -China relationship for years.

Chinese foreign ministry spokesman Lu Kang said Kim's visit and the trade talks were "two separate matters".

The paper said in an editorial that the dispute harms both countries and disrupts the global trade order and supply chains. The U.S. said it wants any deal to include "ongoing verification and effective enforcement". More senior-level discussions could take place this month, with the South China Morning Post reporting that Trump and Chinese Vice President Wang Qishan may meet at the World Economic Forum in Davos, Switzerland.

"I think that China is actually much easier to deal with than the opposition party", he said.

Adding to support for oil, the value of the USA dollar tumbled after a Federal Reserve official said the central bank isn't locked into a particular direction for interest rates.

Stocks rallied globally on the positive tone of the talks and optimism that Washington and Beijing can avert an all-out trade war.

"The extension of the talks indicates that both sides are serious about this consultation", he said. At the heart of USA concerns is the "Made in China 2025" industrial policy, a strategy Beijing hopes will allow it to supersede USA technology supremacy, which it has since played down without indicating it will fully abandon the plan. Sharp divisions have emerged in the White House between Commerce Secretary Wilbur Ross and those such as US Trade Representative Robert Lighthizer who insist that China has to address not only trade imbalances, but also the so-called structural issues.

A second day of trade dispute talks between the US and China ended Tuesday without word of any progress, as an official newspaper warned not to push Beijing too hard.

In return, the US will agree to wind down exorbitant tariffs now placed on Chinese imports. To Lighthizer - and thus the USTR office - China's promise to buy more US goods is of less interest than the need for "structural changes".

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