Saturday, 19 January, 2019

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

US Commerce Secretary Wilbur Ross US Commerce Secretary Wilbur Ross
Laurie Berry | 09 January, 2019, 21:40

The first round of trade negotiations between the United States and China concluded on a positive note Wednesday, setting the stage for continued dialogue after a "good few days", according to a us official who attended the meetings.

Chinese and American officials began talks Monday aimed at ending a bruising trade battle between the world's two biggest economies as Beijing complained over the sighting of a USA warship in what it said are Chinese waters.

While the hosts indicated the talks would run Monday and Tuesday, the editor-in-chief of the Chinese state-run Global Times newspaper said in a tweet the discussions could continue Wednesday.

"Talks with China are going very well!". Meanwhile, an industry report Tuesday was said to show American crude inventories declined.

A senior Chinese official said Beijing plans to introduce policies to boost domestic spending on items such as autos and home appliances this year.

The US delegation, led by deputy trade representative Jeffrey Gerrish, had been scheduled to end its visit on Tuesday.

Steven Winberg, assistant secretary for fossil energy, has told reporters that discussions will be extended for another day.

The Trump administration wants Beijing to abandon its strategy of seeking global industrial predominance through the alleged theft and forced transfer of American technology as well as massive state intervention in markets.

After months of USA tariffs on Chinese imports and Chinese retaliatory tariffs on US goods, Trump and Chinese President Xi Jinping held December 1, 2018 meetings at the G20 in Argentina.

"According to recent research from the OIES, stronger than expected oil demand growth has been responsible for 80% of the market rebalancing and thus any slowdown in the global economy that results in lower demand growth will have a drastic effect on oil prices".

NASA Astronomers Discover Planet Twice The Size Of Earth
Over the course of two years, the four wide-field cameras on board will stare at different sectors of the sky for days at a time. They determined that they should be able to find the signal again, in TESS's "sector 3" data - which they succeeded in doing.

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.

US Commerce Secretary Wilbur Ross signalled in a CNBC interview on Monday that there was a "very good chance" of reaching an agreement.

Without a resolution, punitive United States duty rates on $200 billion in Chinese goods are due to rise to 25 percent from 10 percent on March 2.

US President Donald Trump and China's President Xi Jinping.

"I think that gives them a great incentive to negotiate."

"China's ability to use (North Korea) as leverage has diminished considerably since Trump opened his own channel to Kim", she said.

After extending to an unexpected third day, trade talks between US and Chinese officials have concluded, a spokesman for the Chinese foreign ministry announced Wednesday morning.

"These issues are much more hard to solve immediately but are, frankly, much more compelling to US companies", said Jake Parker, vice president for China operations of the US-China Business Council, which represents American companies that do business with China.

"We have shown our sincerity, we have established our stand in this, so we don't need other actions to gain the confidence of the US. And we're doing very well". "The view, once commonly heard in Beijing, that it could outlast America in a grinding tariff battle has given way to the realisation that, as the country with the huge trade surplus, China has more to lose upfront".

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