China-US trade talks end on positive note

USS Mc Campbell departs Sydney Aus. July 2017

USS Mc Campbell departs Sydney Aus. July 2017

But he added, "The two sides both have responsibility to create necessary and good atmosphere to this end".

She added that the Trump administration's complaint that China is stealing USA intellectual property is "top of mind" in the negotiations with Beijing.

The greenback was down almost 0.2 percent against the euro at $1.1560.

Negotiators from the USA and China had extended their trade talks to a third day, which investors took as a sign the trade discussions were productive even though the two sides didn't announce any breakthroughs. They have tried to defuse pressure for more sweeping change by offering trade concessions including purchasing more American soybeans, natural gas and other exports. "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.

The U.S. delegation was led by Deputy U.S. Trade Representative Jeffrey Gerrish and accompanied by senior officials from the White House, U.S. Trade Representative (USTR), and the U.S. Departments of Agriculture, Commerce, Energy, and Treasury, according to the USTR.

Also Tuesday, North Korean leader Kim Jong-un arrived in Beijing in a possible effort to co-ordinate with the North's only major ally ahead of a possible meeting with Trump.

But they extended past their deadline, which the Chinese Foreign Ministry said signified that both sides were "very serious about these negotiations".

The Trump administration wants Beijing to abandon its strategy of seeking global industrial predominance through the alleged theft and forced transfer of American technology as well as massive state intervention in markets. Prior to the meeting, China made a number of concessions to U.S. 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. Trump agreed to suspend plans to increase tariffs on $200 billion worth of Chinese products from 10 percent to 25 percent while the countries attempt to negotiate a compromise on several issues during the trade talks.

Sino-US trade talks to be held in China next week: Beijing
Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the White House. Apple plunged the most since 2013 in part due to slowing iPhone sales in China, where the economy has slowed.

USA companies also want action on Chinese policies they complain improperly favor local companies.

The U.S. economy grew at an annual rate of 3.4 per cent in the third quarter and unemployment is at a five-decade low.

Trade talks between China and the United States this week were extensive, and helped establish a foundation for the resolution of each others' concerns, China's commerce ministry said today, but gave no details on the issues at stake. -China Business Council, which represents American companies that do business with China.

The standoff also reflects American anxiety about China's rise as a potential competitor in telecommunications and other technology.

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. "It's probably going to take a little longer".

Chinese officials complain about controls on "dual use" technology with possible military applications. They complain China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged. -China trade tensions would slow global economic growth and dampen demand for crude.

Official US fuel storage data from the Energy Information Administration is due at 1800 GMT on Wednesday.

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