China-US trade talks end on positive note

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

China and the United States "conducted extensive, in-depth and meticulous exchanges on trade issues and structural issues of common concern, which enhanced mutual understanding and laid the foundation for resolving issues of mutual concerns", the commerce ministry said in a statement.

The Dow Jones Industrial Average (.DJI) rose 91.67 points, or 0.39 percent, to close at 23,879.12, the S&P 500 (.SPX) gained 10.55 points, or 0.41 percent, to end at 2,584.96 and the Nasdaq Composite (.IXIC) added 60.08 points, or 0.87 percent, to finish at 6,957.08.

Such a move would likely prompt further retaliation by China, which has already levied tariffs on US goods, further rattling investors who are nervous about a significant slowdown in China's economy. Over dinner in Argentina last month, Trump and Chinese president Xi Jinping agreed to a 90-day tariff truce so that negotiations could take place. US President Donald Trump tweeted that they were "going really well!"

"China's position in the China-US trade friction and its solutions to the friction is open, it's transparent", Lu said at a regular press briefing.

"Talks with China are going very well!".

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The talks are taking longer than expected as the Chinese commerce ministry had said last week that the meetings would take place on Monday and Tuesday. Trump said on Twitter, but gave no further information.

The Global Times commentary said China's growing economy means it can "carry out a more intense boycott" of trade with the United States if needed. Europe, Japan and other trading partners echo Washington's complaints that those violate Beijing's market-opening obligations.

In a statement that gave no specific details on the outcome of three days of talks in China's capital this week, USTR said that US and Chinese officials discussed "ways to achieve fairness, reciprocity and balance in trade relations".

Oil prices extended their gains, rising almost 1 per cent with US West Texas Intermediate (WTI) crude oil futures rising above $50 per barrel overnight for the first time in 2019. The 28-nation trade bloc has filed a challenge in the World Trade Organization against Chinese licensing rules it says hinder foreign companies from protecting and profiting from their technologies.

"That's not something that's going to be done by March", said Parker.

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"The U.S. feels uncomfortable with China's rapid development, and can't adapt to its own declining influence", wrote Chen Yonglong in the state-run China Daily".

With cooling economic growth raising the urgency for a settlement, this week's talks went ahead despite tension over the arrest of a Chinese tech executive in Canada on USA charges related to possible violations of trade sanctions against Iran.

That added to advances since last week in equity markets around the world, following a strong USA employment report and comments from the Federal Reserve chief that calmed worries us interest rate hikes would hurt growth. They complain China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged.

The American delegation was led by one of Lighthizer's deputies, Jeffrey D. Gerrish.

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

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The U.S. economy grew at an annual rate of 3.4 percent in the third quarter but surveys show consumer confidence weakening.

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