USA destroyer sails in disputed South China Sea amid trade talks

USA destroyer sails in disputed South China Sea amid trade talks

Reuters is reporting that Steven Winberg, assistant secretary for Fossil Energy at the U.S. Department of Energy said on Tuesday that trade negotiations between Washington and Beijing are set to extend into an unscheduled third day on Wednesday. Kim's train left Beijing on Wednesday around the same time the U.S. trade negotiators headed for the airport.

The talks went ahead despite tensions over the arrest of a Chinese tech executive in Canada on USA charges she misled multinational banks about her company's business dealings in Iran.

Inside the White House, some key economic advisers are campaigning for a quick resolution to the trade conflict to help soothe battered markets.

Trump imposed tariff increases of up to 25 percent on $250 billion of Chinese imports over complaints Beijing steals or pressures companies to hand over technology.

Some analysts say that China - Pyongyang's key diplomatic ally and main source of trade - could use Kim's visit as a bargaining chip in the USA trade talks.

Stocks gained from Europe to Asia and USA futures rose on fresh hope for a breakthrough in the negotiations.

Originally scheduled for Monday (Jan 7) and Tuesday (Jan 8), the negotiations were extended by a day amid signs of progress on issues including purchases of United States farm and energy commodities and increased access to China's markets. The euro traded at US$1.1464 (RM4.71) while the dollar stood at ¥108.85.

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U.S. Commerce Secretary Wilbur Ross predicted on Monday that Beijing and Washington could reach a trade deal that "we can live with" as dozens of officials from the world's two largest economies resumed talks in a bid to end their trade dispute.

The Wall Street Journal reported Tuesday the two sides were narrowing their differences, with Chinese officials offering greater purchases of USA goods and services and Cabinet-level follow-up meetings expected later this month. Europe, Japan and other trading partners echo United States complaints those violate Beijing's market-opening obligations. Experts say it may take months to resolve the causes of the trade war, which include disagreements over Beijing's handling of technology and intellectual property.

The United States and China have bolstered market confidence that they will roll back their trade war after officials concluded three days of negotiations in sanguine spirits.

However, hawks have also been pressing the president to keep his focus on what they see as a long-term fight to address a vast list of Chinese trade abuses and make sure lasting changes in policy are both secured and can be enforced.

The Trump administration is dealing with an increasingly strong China that has its own pressing needs, said the Global Times, which is published by the ruling Communist Party. However, both economic powerhouses may be far apart on Chinese structural reforms. There is no question that the Chinese want the deal, they need the deal.

A spokeswoman for the U.S. Trade Representative's office, which is leading the U.S. negotiating team, said talks would continue on Wednesday and "a statement will likely follow then". "So we're on our way".

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