Donald Trump says US-China talks are ‘going very well’


Later this month, Lighthizer is expected to meet with Vice Premier Liu He, Xi's top economic aide who is leading negotiations for China, a person familiar with the situation said last week.

A statement from the Office of the U.S. Trade Representative didn't characterize the tone of the talks or say what would happen next.

However, that point is considered a relatively minor area of disagreement, and there were no hints of progress on bigger issues. He did not elaborate.

In the meantime, companies in both countries are feeling pain from the effects of USA tariffs and retaliation from China, which are starting to mount. "As for whether this move has any impact to the ongoing China-U.S. trade properly resolve existing issues of all kinds between China and the good for the two countries and the world".

One of the biggest challenges to any deal would be to ensure that China enforces whatever is agreed to stop technology transfers, intellectual property theft and hacking of us computer networks.

The two sides appear to have made headway in getting China to buy more American products and further opening up its market. Negotiations were "extensive, in-depth and detailed", and laid the foundation for the resolution of issues of mutual concern, China's Ministry of Commerce said in a statement.

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 U.S. by China but did not specify any new deals.

At stake are scheduled US tariff increase on $200 billion in Chinese imports.

Chinese exports to the US have held up despite tariff increases of up to 25 percent on $250 billion of Chinese imports, partly due to exporters rushing to fill orders before more increases hit.

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Elsewhere, U.S. bank Morgan Stanley cut its 2019 oil price forecasts by more than 10 per cent on Wednesday, pointing to weakening economic growth expectations and rising oil supply.

No schedule for further face-to-face negotiations was released after the talks.

"The delegation will now report back to receive guidance on the next steps", it added.

Given the results of the talks, reports of optimism on both sides suggest that Washington may be willing to settle for a deal that mostly involves addressing the trade deficit by increasing USA exports to China.

Also Tuesday, North Korean leader Kim Jong-un arrived in Beijing in a possible effort to co-ordinate with the North's only major ally ahead of a possible meeting with Trump. Unfortunately, China's definition of what "should not and can not" be reformed has always included precisely the areas of most US concern.

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

The U.S. negotiators in Beijing are pushing the Chinese side to come up with a mechanism to ensure that Beijing keeps the promises it makes, the Wall Street Journal reported.

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

One of the biggest challenges to any deal would be to ensure that China enforces whatever is agreed to stop technology transfers, intellectual property theft and hacking of US computer networks. "If the results of the talks are positive, it would be beneficial for both China and the USA and good news for the global economy". 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".