China Economic Slowdown Biggest Threat To Global Economy

What hope for markets in the US-China trade talks?

The Chinese Ministry of Commerce issued a statement saying the two sides had "detailed exchanges" and would "maintain close contact" but gave no details.

"The hard work of addressing structural issues to create a level playing field in China do not appear to have been resolved", said Lester Ross, a policy committee chief at the American Chamber of Commerce and also partner-in-charge at the Beijing office of law firm WilmerHale. Trump has said he would increase those duties to 25 percent from 10 percent now if no deal is reached by March 2, and has threatened to tax all imports from China if Beijing fails to cede to U.S. demands.

The US highlighted China's pledge to purchase more agriculture and other goods, without providing specifics.

Global stocks also soared at the end of the two-day meeting in Beijing, where officials from both countries convened starting Monday to negotiate a deal that would potentially end a trade dispute that sent the stock market reeling through most of 2018.

The ongoing trade war has already seen new tariffs introduced on $250 billion worth of Chinese imports and Beijing respond with levies on $110 billion of US goods. The Chinese side has suggested talks were "constructive".

Negotiations between the USA and China in Beijing this week on trade were "extensive, in-depth and detailed", and laid the foundation for the resolution of issues of mutual concern, the Ministry of Commerce said in a statement Thursday.

People familiar with the U.S.

In addition to the large trade deficit, the United States has long complained about such structural issues.

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The 90-day time frame is a tight window in which to nail down deep changes to China's economic model, reforms which past US administrations advocated for years and USA lawmakers on both sides of the aisle support.

The midlevel talks in Beijing concluded on Wednesday.

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.

Almost halfway into the 90-day truce, there have been few concrete details on progress made so far. Those include subsidies and other favors for high-tech and state-owned industry, rules on technology licensing and preferential treatment of domestic suppliers in government procurement.

She added that the Trump administration's complaint that China is stealing US intellectual property is "top of mind" in the negotiations with Beijing.

"We can confidently say that enough progress was made that the discussions will continue at a higher level", said Craig Allen, president of the U.S. -China Business Council. "That is very positive".

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

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