US, China trade negotiations positive as Beijing meetings continue

The USS Decatur sailing through the South China Sea in 2016

U.S. Commerce Secretary Wilbur Ross expressed optimism on Monday, telling CNBC that "there's a very good chance that we'll get a reasonable settlement".

Negotiators are seeking to resolve a number of thorny issues that have threatened an all-out trade war between the world's two biggest economies. They are hoping, at the very least, that the trade war initiated by President Trump does not escalate, that both sides step back from the brink. United States president Donald Trump tweeted without elaborating, as talks wound down late on Tuesday evening in Beijing.

"I can confirm we are continuing tomorrow (Wednesday)", Steven Winberg, assistant energy secretary, told reporters after returning to his hotel in Beijing.

A member of the United States delegation said the two sides would resume talks on Wednesday as they continue their first face-to-face meetings since Trump and Chinese President Xi Jinping agreed to a tariff truce during a meeting in Argentina on December 1.

Without a resolution, punitive U.S. duty rates on US$200 billion in Chinese goods are due to rise to 25 percent from 10 per cent on March 2.

The American delegation is led by a deputy US trade representative, Jeffrey D. Gerrish, and includes agriculture, energy, commerce, treasury and State Department officials.

"From the beginning we have believed that China U.S. trade friction is not a positive situation for either country or the world economy", Lu said.

More news: Brewers trade Keon Broxton to Mets

Trade and concerns over slowing economic growth triggered a selloff at the end of 2018 that culminated in Wall Street posting its worst monthly performance in about a decade in December, driving down earnings estimates and stock valuations.

The working level talks held at the Chinese Commerce Ministry were the first round of face-to-face discussions since both sides agreed to a 90-day truce in a trade war that has roiled global markets.

"The Chinese side immediately sent military vessels and aircraft to conduct verification and identification on the US ship and warned it to leave", Lu told the briefing.

In what is widely seen as a goodwill gesture, China on Tuesday issued long-awaited approvals for the import of five genetically modified crops, which could boost its purchases of USA grains as farmers decide which crops to plant in the spring. No timing was given and it wasn't immediately clear if the US delegation would release a statement.

"Overall the talks have been constructive". The person added that it was more hard to determine how to hold China to its commitments to better protect intellectual property.

But Bonnie Glaser, a senior adviser at the Center for Strategic and International Studies, said the timing of the North Korean leader's arrival could be coincidental.

The statement came as trade talks between China and the United States were under way in Beijing, the first round of face-to-face discussions since both sides agreed to a 90-day truce in a trade war that has roiled worldwide markets.

Related News:



Most liked

All Major Networks to Air President Trump’s Address to the Nation
Schumer himself admitted last week that "a fence works" but claimed that "a concrete wall is expensive and it doesn't work". He noted that the networks declined to air past presidents' addresses, including one from former president Barack Obama.

Venom sequel is definitely coming despite those awful reviews
The first Deadpool was great, but that was mostly thanks to Ryan Reynolds' performance and the material he was given to work with. Carnage should certainly allow for that and it would be great to see more of She-Venom after the tiny hint in the first movie.

Fearing For His Life, Enes Kanter Won't Travel With Knicks To London
"It's pretty sad that all the stuff affects my career and basketball because I want to be out there and help my team win". Kanter's Turkish passport was revoked in 2017, and an worldwide warrant for his arrest was issued by Turkey.

Sears rejects bailout bid, hundreds of stores likely to close
The creditors' attorneys question whether the terms of those loans unduly benefited Lampert and his hedge fund rather than Sears. Lampert entered the bid through Transform Holdco LLC, an affiliate of his private equity firm, ESL Investments Inc.

Cash bonuses for India heroes after Australia Test triumph
After rain played spoilsport on the final day of the Sydney Test in the 4-match series, the match ended in a draw. I've got enough on my plate at the moment".

DUP says backstop the 'poison' in Brexit deal
The comments follow a statement by the DUP's leader at Westminster rebuffing Downing Streets efforts to win the Unionists over.

Australia Closes Queensland Beaches Over Thousands of People Stung by Jellyfish
She said "a really weird run" of strong winds and heat spells had brought bluebottle jellyfish and other species closer to shore. Thousands were treated by lifesavers and several people reportedly suffered anaphylactic shock and were treated by paramedics.

De Blasio has a plan
Part of the idea NYC Care, aides to the mayor said, was to ease that burden while providing better health care to New Yorkers. It will also guarantee health care access to those ineligible for insurance, including illegal immigrants who live in NY .

Former 49ers LB to be Inducted into College Football Hall of Fame
He led the Longhorns to 2006 BCS National Championship over USC in one of the best championship performances in history. In their inaugural season, the Salt Lake Stallions will have a College Football Hall of Fame inductee as their coach.

Families furious after woman in vegetative state gives birth at nursing facility
The staff member remarked that one client with intellectual disabilities had been placed in a sexual position. So far, the specific condition of the woman and her baby have not been released.

Luck's Colts dominate Texans to extend impressive streak
The Patriots , who went a flawless 8-0 at home this season, last faced the Ravens in 2016, winning 30-23 in Foxboro. Watt tipped a Luck pass and created an interception for the Texans .

Saints to Face Philadelphia Eagles in Divisional Round of NFL Playoffs
Following the loss, the Eagles fell to 4-6, and their playoffs hopes were almost non-existent. The Cowboys are now set to take on the Rams in the NFC's Divisional Round on Saturday night.

Hackers dump personal data of hundreds of German politicians
Response: News of the hack has prompted Germany's intelligence agencies to meet this morning to coordinate a response. The public broadcaster ARD - affiliated to rbb - said its journalists had as yet detected no incriminating content.

Intel's 9th Gen Core processors headed to laptops in Q2 2019
In October, Intel launched the first set of the 9th Gen Core desktop processors, including the Intel Core i9-9900K processor. A Neural Network Processor for Training, code-named "Spring Crest", is also set to become available later this year .

Hyundai sees Walking Car prototype as ideal disaster relief vehicle
Hyundai has shown off a small model of a vehicle it says can activate robotic legs to walk at 3mph (5km/h) over rough terrain. This allows Elevate to drive at highway speeds just like any other vehicle.