China says trade talks with USA end, no details released

Beijing-Washington trade talks concluded

China optimistic as trade negotiations with US kick off

US and Chinese officials met Monday in the Commerce Ministry in Beijing to begin their two-day trade negotiations.

According to people familiar with the matter, Trump's willingness to cut a deal with Beijing is driven in large part by his desire for markets to rally.

The U.S. -China Business Council, a group representing American companies doing business in China, said January 9 that it welcomed the "substantive discussions" during the talks, but urged the two sides to reach "measurable" results.

Shanghai economist Andy Xie says the talks wouldn't have been extended if they were going poorly.

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

Other strategists have said the US economy could even enter a technical recession if Trump does not fix the ongoing impasse on trade with China.

After that meeting, top US officials said China had made an additional $1.2 trillion in trade commitments. "Without some progress already made, there would not be an extension to the negotiations", he told NPR. The Asian markets reached almost one-month highs on speculation that the world's two largest economies were hammering out a deal, Schmitz said. While Trump tweeted yesterday that the talks were "going very well", major stumbling blocks are still unresolved.

China has already made significant concessions on trade and other USA economic demands, including the recommencement of Chinese purchases of American soybeans and a lowering of tariffs on American cars.

It softened its stand by offering a mix of concessions by resuming purchases of USA soybeans, suspended punitive tariffs on imports of U.S. cars and toned down its "Made in China 2025" plan, which aimed at breaking the country's reliance on foreign technology and pull its hi-tech industries up to western levels.

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Beijing has offered concessions on investment regulations and stepping up purchases of American soybeans, natural gas and other exports, seeking to defuse complaints from the USA and other trading partners.

China has imposed penalties on $110 billion of American goods, slowing customs clearance for United States companies and suspending issuing licenses in finance and other businesses.

Chinese exports to the US have held up despite tariff increases, partly due to exporters rushing to fill orders before more increases hit. Forecasters expect American orders to slump this year.

A Chinese paramilitary policeman stands guard at the main entrance gate of the Ministry of Commerce in Beijing, Wednesday, Jan. 9, 2019.

However, hawks have also been pressing the president to keep his focus on what they see as a long-term fight to address a vast list of Chinese trade abuses and make sure lasting changes in policy are both secured and can be enforced. "Progress should include a mechanism for the removal of tariffs and measurable, commercially meaningful outcomes", the U.S.

Mike Bell, a global market strategist at J.P. Morgan Asset Management, said it was clear that USA growth will fade in 2019, while presenting the bank's "Guide to Markets" at an event in London on Wednesday.

For its part, Beijing is unhappy with USA export and investment curbs, such as controls on "dual use" technology with possible military applications.

Earlier this week, China approved five genetically modified (GM) crops for import, the first in about 18 months, which could boost its overseas grains purchases and ease United States pressure to open its markets to more farm goods.

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