US, China trade talks conclude on positive note

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"Progress should include a mechanism for the removal of tariffs and measurable, commercially meaningful outcomes", the U.S. Stocks rose globally after the two economic powers appeared to inch closer to an agreement, with the S&P 500 Index rising for a fourth day to the highest in nearly a month.

Three days of U.S.

Meanwhile, confirming the conclusion of the trade talks, China's foreign ministry spokesman Lu Kang told a media briefing that "the extension of the talks indicates that both sides are serious about this consultation".

A statement from the US Trade Representative said the talks "focused on China's pledge to purchase a substantial amount of agricultural, energy, manufactured, and other products and services from the United States".

But as meetings wound down in Beijing on Tuesday evening, Trump tweeted: "Talks with China are going very well!". -China Business Council said in a statement.

The second day of trade negotiations coincided with an unannounced visit by North Korean leader Kim Jong Un for talks with Xi in Beijing, amid speculation of a second meeting between Kim and Trump.

Signals from the latest round of talks were upbeat, the Post report said.

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There has been some indication of Chinese moves to address concerns regarding forced technology transfer, including recently proposed legislation that would bar local governments from forcing foreign firms to transfer technology or illegally restrict market access.

Chinese officials have suggested Beijing might alter its industrial plans, but they reject pressure to abandon a strategy seen by communist leaders as a path to prosperity and greater global influence.

The Global Times commentary said China's growing economy means it can "carry out a more intense boycott" of trade with the United States if needed.

"We've got that situation played out".

The truce came after both sides imposed several rounds of tariffs in 2018.

Beijing has tried to defuse pressure from its trading partners for more sweeping changes by offering concessions on investment regulations and stepping up purchases of American soybeans, natural gas and other exports.

"China would need to significantly recalibrate its industrial policies to fully meet the US trade team's demands", Nick Marro of the Economist Intelligence Unit said in a report.

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Oil prices extended their gains, rising almost 1 per cent with US West Texas Intermediate (WTI) crude oil futures rising above $50 per barrel overnight for the first time in 2019.

Trump is increasingly eager to strike a deal with China soon in an effort to perk up financial markets that have slumped on concerns over the trade war, according to people familiar with internal White House deliberations.

As the talks began Monday at the Chinese Commerce Ministry, Beijing complained about a USA warship in what it said were Chinese waters, but it was unclear whether that would disrupt the proceedings.

That added to advances since last week in equity markets around the world, following a strong USA employment report and comments from the Federal Reserve chief that calmed worries US interest rate hikes would hurt growth.

The American delegation was led by one of Lighthizer's deputies, Jeffrey D. Gerrish.

Still, cooling economic growth in both countries is increasing pressure to reach a settlement. It included agriculture, energy, commerce, treasury and State Department officials.

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