China Trade Talks Conclude on Optimistic Note

China Trade Talks Conclude on Optimistic Note

China said talks with the U.S. "laid the foundations" to resolve a damaging trade dispute between the world's two largest economies.

Speaking at a briefing on Monday, China Foreign Ministry spokesperson Lu Kang shared hopes of reaching an agreement: "From the beginning, we have believed that China-U.S. trade friction is not a positive situation for either country or the world economy".

U.S. -China trade talks ended on Wednesday with negotiators focused on Beijing's pledge to buy "a substantial amount" of agricultural, energy and manufactured goods and services from the United States, the U.S. Trade Representative's office said.

Investors welcomed signs of optimism from the talks.

Trump boasted on Twitter on Tuesday that discussions in China were "going very well!".

Washington has been clamouring for an end to the forced transfer - and even theft - of American technology and intellectual property, as well as steep government subsidies for Chinese companies.

It's a tight window in which to nail down deep changes to China's economic model, some of which past USA administrations advocated for years and US lawmakers on both sides of the aisle support.

A group representing American companies doing business in China welcomed the "substantive discussions", but stressed the need to work out key details. The council and other USA business groups have pressed for a resolution to the trade hostilities between the world's two biggest economies.

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Ted McKinney, U.S. undersecretary of agriculture for trade and foreign agricultural affairs, told reporters after the meeting that the delegations had a "good few days".

The USTR statement didn't say whether progress had been achieved on its main concerns. -China trade dispute. Apple Inc (AAPL.O) rattled global markets last week when it cut its sales outlook, blaming weak demand in China. Without a breakthrough in talks, US corporations are likely to experience a deepening decline in their Chinese sales, with Bank of America Merrill Lynch analysts even seeing an "informal boycott" in place.

But the statement did not say if the two sides have reached any agreement during the talks that concluded on Wednesday.

The current trade round coincided with an unannounced visit from North Korean leader Kim Jong Un, who arrived in Beijing on Tuesday for talks with Xi in Beijing ahead of a possible second meeting between Kim and Trump. Liu made a brief appearance at the talks in Beijing on Monday, boosting optimism that China was serious about making progress.

The talks were the first face-to-face meeting between the two sides since their leaders met on December 1. If a "REAL" deal with China is possible, the USA will "get it done", Trump tweeted shortly after his dinner with Jinping last month.

Trump is increasingly eager to strike a deal with China soon in an effort to perk up financial markets that have slumped on concerns over the trade war, according to people familiar with internal White House deliberations.

Almost halfway into the 90-day truce, there have been few concrete details on progress made so far.

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