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US-China trade talks spill into third day

AFP  |  Beijing 

US and Chinese negotiators extended trade war talks into a third day on Wednesday, with boasting that discussions to resolve the dispute were going "very well".

An American delegation has been in since Monday for the first sit-down talks since Trump and Chinese leader agreed to a three-month truce on December 1.

Asian markets rose on increasing optimism that the two sides would be able to hammer out a deal ahead of a March deadline and avert further import tariff hikes.

"Talks with are going very well!" Trump tweeted after the second day of negotiations on Tuesday.

The US delegation, led by Deputy Trade Jeffrey Gerrish, was supposed to end its visit on Tuesday.

But a told AFP on condition of anonymity that "the trade talks have continued today (Wednesday)", without providing more information.

has been clamouring for an end to the alleged forced transfer -- and even theft -- of American technology, as well as steep government subsidies for Chinese companies.

The also wants to buy more American goods to narrow a yawning trade gap and allow foreign players better access to the Chinese market.

Neither Chinese nor US officials have given any details about the discussions.

US signalled in a CNBC interview on Monday that there was a "very good chance" of reaching an agreement.

China's economy was more vulnerable to the fallout from the trade war, he said, noting that exports more goods to the than the other way around.

"I think a deal is very possible and I've heard some very encouraging words," told CNBC.

"I don't speak for them obviously," Cook said in reference to the

"I do talk with them and I give them my ideas and thoughts."

The US maker has felt the pinch of the bruising trade spat, and warned that 2018 revenues would miss its forecast -- in large part due to a slump in sales in

The temporary ceasefire came after the two sides imposed import duties on more than USD 300 billion of each other's goods.

Without a resolution, punitive US duty rates on USD 200 billion in Chinese goods are due to rise to 25 per cent from 10 per cent on March 2.

The current trade round coincided with an unannounced visit from North Korean leader Un, who arrived in Beijing on Tuesday for talks with Xi in Beijing ahead of a possible second meeting between Kim and Trump.

-- Pyongyang's sole diplomatic ally and main source of trade -- said it would not use Kim's visit as a in the US trade talks.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 09 2019. 12:25 IST