Trade war: China says USA talks 'laid ground' to resolve dispute

Trade war: China says USA talks 'laid ground' to resolve dispute

Trade war: China says USA talks 'laid ground' to resolve dispute

A clutch of Fed officials said on Wednesday they will wait to deliver more interest rate hikes so the central bank can further assess growing risks to an otherwise solid US economic outlook. Stocks rose globally after the two economic powers appeared to inch closer to an agreement, with the S&P 500 Index rising for a fourth day to the highest in nearly a month.

"The extension of the talks indicate that both sides take this very seriously", Lu said. The U.S. and China have slapped a tariffs on a combined $360 billion in each other's imports since July.

Trump, who has been accusing China of indulging in unfair trade practices contributing to the huge trade deficit amounting to United States dollars 375 billion, on Tuesday said the trade talks with Beijing were going on "very well".

There was little market reaction to Trump's prime-time televised address where he made his case that a U.S. -Mexico border wall is urgently needed, despite opposition from Democrats.

"Talks with China are going very well!".

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Heightened risk appetite boosted U.S. Treasury yields to the highest this year, while the U.S. dollar extended losses after minutes from a December 18-19 Federal Reserve policy meeting showed many Fed policymakers said the central bank could be patient on future rate hikes.

"At the beginning of 2018 the global economy was firing on all cylinders, but it lost speed during the year and the ride could get even bumpier in the year ahead, " World Bank Chief Executive Officer, Kristalina Georgieva, said in a semi-annual report released late on Tuesday.

Beijing has tried to defuse pressure from its trading partners for more sweeping changes by offering concessions on investment regulations and stepping up purchases of American soybeans, natural gas and other exports. WTI is among the most popular US light crude grades with Asian buyers.

"China trade talks will likely keep the risk rally going although some market players may opt to book gains and to wait for fresh leads", ING economists said in a note to clients. Those include subsidies and other favors for high-tech and state-owned industry, rules on technology licensing and preferential treatment of domestic suppliers in government procurement.

Beijing also faces pressure over technology from the European Union.

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Companies disappointed about failures or delays in Beijing carrying out commitments want an enforcement mechanism with "some kind of penalty for not doing what they promised", said Parker.

If US crude futures can break through the $55 level, "you're going to see real yields probably lower".

The discussions "went just fine", he said without elaborating, the Hong Kong-based South China Morning Post reported.

For their part, Chinese officials are unhappy with USA curbs on exports of "dual use" technology with possible military applications.

Still, cooling economic growth in both countries is increasing pressure to reach a settlement. The delegations were led by deputy US Trade Representative Jeffrey Gerrish on the US side and vice commerce minister Wang Shouwen on the Chinese side.

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Vehicle and property sales have slumped as Chinese growth fell to a post-global crisis low of 6.5 percent in the quarter ending in September. There are concerns that USA growth, 3.4 percent in the third quarter, is also slowing even as the country's unemployment rate remains almost at a five-decade low.

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