China-US trade talks conclude, results to be released soon

USS Mc Campbell departs Sydney Aus. July 2017

President Donald Trump and his deputies have criticized China for failing to live up to past promises, including a pledge to promptly open up the Asian nation's economy to more trade and investment after it joined the World Trade Organization in 2001. But aside from some soybean purchases, there has been little sign of big-ticket acquisitions. But if a deal doesn't happen, remember, "I am a Tariff Man", Trump said. U.S. West Texas Intermediate (WTI) crude (CLc1) futures rose $2.58 to settle at $52.36 a barrel, a 5.2 percent gain.

On Monday, Chinese importers made another large purchase of USA soybeans, their third in the past month.

Despite rising hopes of progress toward a deal, the outcome wasn't immediately clear.

However, the USA side is pressing Beijing to scrap or change rules Washington says block market access or improperly help Chinese companies. -Chinese relations for years.

The Chinese responded by slapping tariffs of $110bn worth of U.S. goods.

The talks were seen as a litmus test of whether a lasting deal can be reached before March 2, when the Trump administration plans to hike tariffs on $200 billion of Chinese goods from 10% to 25%.

A senior Chinese official said Beijing plans to introduce policies to boost domestic spending on items such as autos and home appliances this year.

That pledge, addressing a trade deficit in goods, was however mentioned only at the end of the statement which focused on the U.S. demands for structural changes to China's domestic policies.

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.

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".

More news: Deputy Attorney General Rod Rosenstein to leave post at Justice Department

While Beijing could take "easy steps" like importing soybeans, cotton and liquefied natural gas from the USA, there would be greater difficulties on the technology front, including China proving its commitment to intellectual property rights with penalties on violators and addressing U.S. restrictions on China's electronic components, Pang said.

"We're optimistic", White House press secretary Sarah Huckabee Sanders told the Fox Business Network, adding "we expect that something will come of this".

Companies, disappointed that Beijing hasn't kept past commitments, also want any deal to ensure that China faces "some kind of penalty for not doing what they promised", Parker said.

Jon Cowley, a senior lawyer at Baker McKenzie's global commercial and trade practice group, said he expected that negotiators may have put together a framework for an agreement, but that existing tariffs would not be fully eliminated unless China met the U.S. "all the way".

The USTR gave few other details of the talks, which started on Monday and were initially scheduled to last two days. -China trade dispute. Apple Inc 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.

Asian markets were mostly lower Thursday as USA and Chinese officials wrapped up three days of talks in Beijing without significant breakthroughs.

Some degree of optimism followed a USA trade delegation home from Beijing on Wednesday, after the most comprehensive trade negotiations held yet between the world's two largest economies since a tit-for-tat tariff battle ensued a year ago. "Our sense is that there's good progress on the purchase piece", said one person familiar with the talks.

Since the two presidents met on December 1, China has made a number of concessions to US demands, including temporarily cutting punitive tariffs on USA -made cars, resuming soybean purchases, promising to open up its markets for more foreign investment, and drafting a law to prevent forced technology transfers. Prior to the meeting, China made a number of concessions to United States demands including temporarily cutting punitive tariffs on US-made cars, resuming soybean purchases, promising to open up its markets for more foreign investment, and drafting a law to prevent forced technology transfers.

"After a awful December for risk markets, crude oil continues to catch a positive vibe", said Stephen Innes at futures brokerage Oanda in Singapore, noting that investors were growing less fearful that U.S.

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