Stocks diverge as US-China trade talks begin

Stocks diverge as US-China trade talks begin

Washington and Beijing are trying to clinch a deal ahead of a March 1 deadline when the White House is planning to increase tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent.

US Treasury Secretary Steven Mnuchin said trade talks with China went well today, as the world's two largest economies try to iron out an agreement to resolve their dispute.

Trump told reporters in the Oval Office on Wednesday that preliminary discussions in Beijing had gone "very well", Bloomberg reported, adding that the USA president was considering a 60-day deadline extension according to unnamed sources. China's trading partners say the state support for industries violates Beijing's market-opening obligations, and some American officials worry they might erode USA industrial leadership.

"Based on the positive signals from the US-China trade negotiations, further tariff hikes will likely be suspended", noted Louis Kuijs of Oxford Economics, adding he expected continued pressure on exports due to a global slowdown and the existing US tariffs.

"President Trump and President Xi sitting down face-to-face figuring that out and getting that final deal because they are the only two that'll ultimately be able to nail that down", Sanders said.

Trump had originally threatened to escalate tariffs on China after March 1, but this week eased up on that ultimatum pending the outcome in Beijing, with Bloomberg News reporting he could push it back 60 days.

A meeting date between Trump and Xi has not been set and it is unlikely the pair can meet before the March 1 deadline.

Earlier, the White House called March 2 a "hard deadline".

More news: United given a 'reality check', admits Solskjaer

Trump also has said he expects to meet with Xi "at some point" to clinch a trade deal.

"From their point of view, they would have dodged a bullet", Green, who was USTR's top official at the US embassy in Beijing until mid-2018, told Reuters.

The US is demanding far-reaching changes to Chinese practices that it says are unfair, including theft of US technology and intellectual property, and myriad barriers that foreign companies face in the Chinese domestic market.

China's trade surplus with the United States narrowed to $27.3 billion in January, from $29.87 billion in December.

As for the tone/sentiment, the report states that "it wasn't immediately clear if there was progress in resolving any of the thorny issues separating the two sides".

China's exports rebounded in January from a contraction late a year ago amid trade tensions with Washington, but imports declined.

Copper has declined by 17% from its June 2018 high over worries of a slowdown in China and the impact of a trade war with the U.S., but the longer term prospects for the metal remain rosy.

The International Monetary Fund warned on Sunday of a possible global economic "storm" as world growth forecasts dip, citing the US-China trade row as a key pivot point.

Related Articles

  • Here Are the Full Specs for Samsung's Budget Galaxy A Series

    Here Are the Full Specs for Samsung's Budget Galaxy A Series

    There is no confirmation on whether it features an AMOLED screen which indicates that it may come with an LCD display. The low-end Exynos 7884B octa-core processor that works 1.8 GHz is rumored to power the A10 along with 3 GB of RAM.
    Mars Opportunity rover is dead, NASA confirms

    Mars Opportunity rover is dead, NASA confirms

    The rover could no longer charge its solar-powered batteries and went into hibernation. "We had no idea it would take this long". Its identical twin, Spirit, was pronounced dead in 2011, a year after it got stuck in sand and communication ceased.
    Solo and Duo modes might be coming to Apex Legends

    Solo and Duo modes might be coming to Apex Legends

    If you are looking for the ultimate chart to give you a better idea of the gun mechanics in Apex Legends , look no further. While Apex Legends has just had a high-profile release , another one is just around the corner.
  • Ariana Grande connects with listeners while healing herself in 'thank u, next'

    Ariana Grande connects with listeners while healing herself in 'thank u, next'

    Just two years ago, a massive terrorist attack took place at her concert in Manchester where 22 people died. The internet was quick to assume that the song is about Miller and Grande's most recent ex, Davidson.
    Decline of insects could cause natural catastrophe, study warns

    Decline of insects could cause natural catastrophe, study warns

    Currently, 40% of Earth's insects are at risk of dying out while another third are considered endangered, according to CNN . Francisco Sánchez-Bayo, one of the report's co-authors, told The Guardian: "It is very rapid".
    Convicted El Chapo faces rest of his life behind bars

    Convicted El Chapo faces rest of his life behind bars

    But his sing-songy voice filled the courtroom, thanks to recordings of intercepted phone calls. Tuesday's ruling by a court in NY came after an 11-week trial.
  • UK Teenager Who Left to Join Daesh Wants to Come Back Home

    UK Teenager Who Left to Join Daesh Wants to Come Back Home

    She acknowledged her notoriety but said: "I'll do anything required just to be able to come home and live quietly with my child". The family went to Baghuz and she left there two weeks ago along a three-mile long corridor east of the town.
    Trump to Declare National Emergency

    Trump to Declare National Emergency

    That does not mean Trump is happy with the deal, which provides him with even less border funding than was offered in December. President Trump must sign the measure by midnight Friday to keep the government open.
    Theresa May to ask MPs for more time on Brexit talks

    Theresa May to ask MPs for more time on Brexit talks

    The letter comes as the prime minister accused of running down the clock in order to force MPs to back her Brexit deal . May later told business leaders in a phone call that extending the Article 50 Brexit process would serve no objective .
  • As revolution turns 40, Iran taunts USA , vaunts military

    As revolution turns 40, Iran taunts USA , vaunts military

    Another Iranian official warned that his country would destroy cities in Israel if the United States attacked Iran. Some Iranians criticize their leaders for what they say are foreign adventures which squander funds.
    Man Arrested After Young Woman’s Body Found Stuffed Inside Suitcase in CT

    Man Arrested After Young Woman’s Body Found Stuffed Inside Suitcase in CT

    Autopsy results are pending in the case while a funeral for her has been scheduled for Wednesday, with a viewing on Tuesday. Reyes lived alone in a basement apartment in New Rochelle and suffered at times from anxiety and depression, WABC reported.
    Trump Supporter 'Violently Pushed' Cameraman at Trump Rally

    Trump Supporter 'Violently Pushed' Cameraman at Trump Rally

    Skeans said he and his camera was nearly knocked over twice before the protester was wrestled away. Montague said the president had been criticizing the media before the incident occurred.