Monday, 18 March, 2019

Stocks boosted by U.S.-China trade hope, oil prices soar

What hope for markets in the US-China trade talks? US-China Trade Talks Wrap Up After Extending To Third Day
Laurie Berry | 10 January, 2019, 08:55

Working-level trade talks between the United States and China began Monday in Beijing with negotiators for the world's two biggest economies trying to resolve tariff disputes that have roiled world markets in recent weeks.

China's position on trade is "transparent and the USA side is well aware of it", said Lu Kang. The Asian markets reached almost one-month highs on speculation that the world's two largest economies were hammering out a deal, Schmitz said.

In a statement, the office of U.S. Trade Representative Robert Lighthizer said the two sides considered ways to "achieve fairness, reciprocity, and balance in trade relations".

"I confirm we're continuing tomorrow, yes", Winberg said, declining to answer further questions.

As the talks began Monday at the Chinese Commerce Ministry, Beijing complained about a US warship in what it said were Chinese waters, but it was unclear whether that would disrupt the proceedings.

China and the United States wrapped up three days of trade talks and are reportedly coordinating how to characterize the results publicly as officials from both nations expressed optimism that progress had been made.

The Chinese side has suggested talks were "constructive".

Asked if that meant the talks had been hard, Lu said: "I can only say that extending the consultations shows that the two sides were indeed very serious in conducting the consultations".

Trump and Chinese President Xi Jinping agreed December 1 to postpone more tariff hikes on each other's goods for 90 days while they negotiate.

Salah retains CAF African Player of the Year gong
The trio of Mohamed Salah , Sadio Mane and Pierre Aubameyang were named in the African's best X1 for the year 2018. Borussia Dortmund and Morocco's Achraf Hakimi beat Nigeria's Wilfred Ndidi to the Young Player of the Year Award.

"I don't see any linkage with the trade talks", said Glaser.

The editor-in-chief of the Global Times, a state-run Chinese newspaper known for its nationalist leanings, said on Twitter around 4 pm in Beijing that he'd heard the two sides were still consulting on the wording of coordinated statements.

The three-day talks between the United States and China ended on Wednesday.

There has been some indication of Chinese moves to address concerns regarding forced technology transfer, including recently proposed legislation that would bar local governments from forcing foreign firms to transfer technology or illegally restrict market access.

If no deal is reached by March 2, Trump has said he will proceed with raising tariffs to 25 per cent from 10 per cent on $200 billion worth of Chinese imports, at a time when China's economy is slowing significantly. USA president Donald Trump tweeted without elaborating, as talks wound down late on Tuesday evening in Beijing.

The talks - led by US Deputy Trade Representative Jeffrey Gerrish and Chinese Vice-Commerce Minister Wang Shouwen - were initially scheduled to end on Tuesday.

The negotiations in Beijing this week were "extensive, deep and detailed", China's commerce ministry said.

The United States has long complained about access to the vast Chinese market and Beijing's demands USA companies reveal their technology advances.

The paper said in an editorial that Beijing's stance remained firm that the dispute harms both countries and disrupts the global trade order and supply chains. The U.S. will decide on the next steps after officials report back to Washington. "There is the potential for Q2 US crude exports to Asia to be higher year-on-year if the WTI/Brent spread remains in the range it has in recent months and with the lower freight rates", Reuters quoted a Genscape oil analyst, David Arno, as saying.

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