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Stocks rise on U.S.-China trade hope; oil prices soar

10 January, 2019, 10:56 | Author: Shawna Walton
  • What hope for markets in the US-China trade talks?

President Xi Jinping responded by imposing penalties on $110 billion of American goods, slowing customs clearance for US companies and suspending issuing licenses in finance and other businesses.

Stocks around the world extended recent gains and oil prices jumped on Wednesday on optimism the United States and China may be inching towards a trade deal, soothing fears of an all-out trade war and its possible impact on global growth.

-China discussions said positions were closer on areas including energy and agriculture, but further apart on harder issues.

President Donald Trump also boasted about the progress, tweeting Tuesday that "Talks with China are going very well!".

It's unclear from the United States statement how much headway negotiators made regarding U.S. concerns over forced technology transfers and cybertheft of trade secrets for commercial purposes. -China relationship for years. More senior-level discussions could take place this month, with the South China Morning Post reporting that Trump and Chinese Vice President Wang Qishan may meet at the World Economic Forum in Davos, Switzerland.

Trump imposed tariff increases of up to 25 percent on $250 billion of Chinese imports.

Beijing has said it will not give up ground on issues it conceives as core.

Later this month, US Trade Representative Robert Lighthizer is expected to meet with Vice Premier Liu He, President Xi Jinping's top economic aide who is leading negotiations for China, a person familiar with the situation said last week.

The paper said in an editorial that the dispute harms both countries and disrupts the global trade order and supply chains.

No schedule for further face-to-face negotiations was released, and USTR said the American delegation would return to Washington to report on the meetings and "to receive guidance on the next steps". Trump and his officials have repeatedly accused Beijing of the "theft" of American intellectual property and of forcing U.S. corporations to transfer technology to their Chinese partners as the price of doing business in China.

The US Trade Representative's office said officials broached those topics and discussed the need for any agreement to include "complete implementation subject to ongoing verification and effective enforcement". But what, if anything, can markets expect from the current dialogue, and where do we go from here?

"I think China wants to get it resolved".

China and the U.S. plan to release a message on trade talks at the same time Thursday morning in Beijing, he said later in another tweet.

The talks were scheduled to be held in Beijing from Monday to Tuesday, but were prolonged to Wednesday. -China trade dispute. Apple Inc (AAPL.O) rattled global markets last week when it cut its sales outlook, blaming weak demand in China.

A Chinese foreign ministry spokesman, Lu Kang, announced the talks had ended.

The Trump administration wrapped up the latest round of trade talks in Beijing, noting a commitment by China to buy more USA agricultural goods, energy and manufactured items. "That's really good for the cost of money and taking some further headwinds out of the USA dollar", he said. While Beijing regards these plans as essential to China's continued economic growth, Washington is hostile to the threat that it poses not only to the dominant position of U.S. corporations, but also to United States military superiority. But neither side appears to have budged, and economists say three months is too little time to resolve issues that have disrupted U.S.

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