Markets buoyed by optimism over US-China trade talks

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Markets buoyed by optimism over US-China trade talks

The two sides "implemented the consensus" reached by President Xi Jinping and President Donald Trump in earlier talks, and discussed both trade and structural issues in the meetings, which took place January 7 to January 9.

China and the U.S. wrapped up three days of trade talks and are reportedly coordinating how to characterize the results publicly as officials from both nations expressed optimism that progress had been made. President Donald Trump tweeted "Talks with China are going very well!" late on Tuesday in Beijing.

The full year numbers will look somewhat different, partly because China has resumed purchases of US soybeans and other goods.

Washington has presented Beijing with a long list of demands that would rewrite the terms of trade between the world's two largest economies.

After extending to an unexpected third day, trade talks between USA and Chinese officials have concluded, a spokesman for the Chinese foreign ministry announced Wednesday morning.

The trade talks between China and the United States this week have laid a foundation for resolving their disputes, the Ministry of Commerce said on Thursday.

The US smartphone maker has felt the pinch of the bruising trade spat, and warned that 2018 revenues would miss its forecast - in large part due to a slump in iPhone sales in China.

United States officials have long complained that China has failed to live up to trade promises, often citing Beijing's pledges to resume imports of American beef that took more than a decade to implement. Lu said he had no details and an official statement would be issued later. They include changes to China's policies on intellectual property protection, technology transfers, industrial subsidies and other non-tariff barriers to trade.

The talks that started Monday were the first face-to-face meeting since Trump and his Chinese counterpart, Xi Jinping, agreed December 1 to suspend further punitive action against each other's imports for 90 days while they negotiate over the fight sparked by American complaints Beijing steals or pressures companies to hand over technology. As of 8:25 pm in Beijing, neither the Chinese side nor the Americans had released a statement - a possible sign of message coordination as the U.S. delegation returned to Washington.

China is now America's largest goods trading partner with Dollars 635.4 billion in total (two way) goods trade during 2017. Liu made a brief appearance at the talks in Beijing on Monday, boosting optimism that China was serious about making progress on a deal. The S&P 500 Index has fallen about 8% since Trump and Xi agreed on a 90-day truce at their meeting in Argentina last month.

The US imposed tariffs on more than $250bn (£195.6bn) worth of Chinese goods, with the threat of more to come.

If talks continue to go well, a cabinet-level meeting is likely to happen before the end of the month.

On Wednesday, the US Trade Representative's offices said in a statement officials from the two sides discussed "ways to achieve fairness, reciprocity and balance in trade relations".

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