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Asian, European Stocks Rebound Ahead of US-China Trade Talks

Asian, European Stocks Rebound Ahead of US-China Trade Talks

In December, Beijing´s commerce ministry said China and the USA "made new progress" on the issues of trade balance and intellectual property -one of the main sticking points of the trade dispute - during a phone call between officials from the two countries.

Trump has said talks toward a deal are progressing well, but it was unclear if Beijing will yield to key USA demands over trade imbalances, market access, and alleged Chinese abuses of intellectual property. United States president Donald Trump has threatened a sharp hike in U.S. tariffs on Chinese goods if China didn't yield to his requests.

China's Commerce Ministry said Friday that U.S. deputy trade representative JeffreyGerrish would hold negotiations with Chinese officials on January 7-8 in Beijing.

The two days of talks are aimed at carrying out last month's agreement by US President Donald Trump and Chinese President Xi Jinping (習近平) to postpone new tariff hikes, the Chinese Ministry of Commerce said. "China wants the trade war to end, and they are offering signs of that", said a United States source familiar with the discussions.

He campaigned on a pledge to make trade fairer for the USA and to help American manufacturers.

After the discussions between U.S. and China at Buenos Aires to remove the stalemate surrounding trade tariffs, China has expressed willingness to work with its beleaguered trade partner.




Now China and the United States face a March deadline for talks to end the damaging trade war, or Washington could proceed with a sharp hike in U.S. tariffs and Beijing could retaliate.

Trump and Xi agreed to a three-month cease fire after imposing steep tariffs on hundreds of billions of dollars in two-way trade, which has raised fears of slowing economic growth and added to investor jitters worldwide. They criticize his tactics but echo USA complaints about Chinese industrial policy and market barriers.

The makeup of the USA team was announced Friday by the trade representative's office.

In addition to Gerrish, the U.S. team will include the Office of the U.S. Trade Representative's top negotiator on agricultural issues, Gregg Doud; Treasury Under Secretary for International Affairs David Malpass; Commerce Under Secretary for International Trade Gilbert Kaplan; the U.S. Agriculture Department's under secretary for trade and foreign affairs, Ted McKinney; the U.S. Department of Energy's assistant secretary for fossil energy, Steven Winberg; and other senior officials.

The dispute has rattled companies and financial markets that worry it will drag on global economic growth, already showing signs of declining.

"Apple makes its product in China".

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