China trade talks extended as both sides tout progress

Oil Extends Longest Rally in 1.5 Years

USA and Chinese envoys extended trade talks into a third day Wednesday after President Donald Trump said negotiations aimed at ending a tariff war were "going very well!".

Asian stocks markets jumped after the talks were extended for an unscheduled third day, fuelling optimism that the world's largest economies can strike a trade deal to avoid an all-out confrontation that would severely disrupt the global economy.

He and Chinese President Xi Jinping agreed December 1 to postpone more tariff hikes on each other's goods for 90 days while they negotiate.

Crude oil prices were up around 1 percent at the start of trading Wednesday through OPEC curbing oil production and with the ongoing trade talks between the US and China generating investor optimism.

After the first day of talks wrapped up, Chinese importers made their third large purchase of US soybeans in the past month, Chicago-based traders said.

The talks went ahead despite tensions over the arrest of a Chinese tech executive in Canada on US charges she misled multinational banks about her company's business dealings in Iran.

Car sales in China fell 6 percent to 22.7 million units a year ago, the first annual slump in at least two decades, the China Passenger Car Association said Wednesday.

The U.S. team is led by Deputy U.S. Trade Representative Jeffrey Gerrish, and includes under secretaries from the U.S. Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from the White House.

"The U.S. feels uncomfortable with China's rapid development, and can't adapt to its own declining influence", wrote Chen Yonglong in the state-run China Daily".

Chinese Foreign Ministry spokesman Lu Kang said the conduct of the USA ship had violated China's and global law, and China had lodged "stern representations".

The Trump administration is even considering keeping current tariffs on Chinese goods in place until its government fulfills its trade pledges - such a move would force China to meet its side of the deal.

"The positive news around the trade talks is giving a boost to risk assets - it's what the global economy needs to see", said Chris Scicluna, head of economic research at Daiwa Capital Markets in London. Trump argued for funding on security and humanitarian grounds as he sought to put pressure on newly empowered Democrats. The bearish pressure on United States greenback eased further in European market hours today on increased investor expectations for positive outcome in Sino-U.S trade talks.

For its part, Beijing is unhappy with USA export and investment curbs, suggesting it might demand concessions.

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

For their part, Chinese officials are unhappy with US curbs on exports of "dual use" technology with possible military applications.

The talks are occurring as Chinese growth - 6.5 percent in the July-to-September period - fell to its lowest point in a decade. They say China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged.

The US economy grew at an annual rate of 3.4 percent in the third quarter but surveys show consumer confidence weakening.

Related News:

  • Transfer: Alvaro Morata decides to join Sevilla from Chelsea

    Transfer: Alvaro Morata decides to join Sevilla from Chelsea

    According to Diario AS , Morata's agent, Juanma Lopez , arrived in Spain on Tuesday to negotiate the striker's move to Sevilla . The Spanish club are interested in bringing the forward back to La Liga as he has struggled to settle at Stamford Bridge.
    Norwegian billionaire's wife abducted; ransom demanded

    Norwegian billionaire's wife abducted; ransom demanded

    Tom Hagen has an estimated net worth of 1.7 billion NOK (c. 200m USD), and is ranked 172 on Norway's rich list. Chief investigator Tommy Broeske said the threats in the note were "of a very serious character".

    Larry Ellison Invests $1B In Tesla (NASDAQ:TSLA)

    Ellison is the world's ninth-richest person with a net worth of US$51.4 billion, according to the Bloomberg Billionaires Index. He criticized how the media had covered Musk, whom he lauded for "landing rockets" and called a close friend.
  • Kevin Hart Apologizes for His Past Anti-LGBTQ Comments

    Kevin Hart Apologizes for His Past Anti-LGBTQ Comments

    Hart apologizing for his remarks: "Once again, Kevin Hart apologizes for his remarks that hurt members of the LGBTQ community".
    Golden Globe Awards winners surprise movie critics, pundits

    Golden Globe Awards winners surprise movie critics, pundits

    The majority of critics felt the movie was all over the place and did a disservice to the memory of Freddie Mercury . When pressed backstage to account for Singer's role in the film, the question was avoided altogether.
    European Union  hits Iran with sanctions after murder plots

    European Union hits Iran with sanctions after murder plots

    Dutch Minister of Foreign Affairs Stef Blok said Iran also attempted an assassination in Denmark and a bomb attack in France. In a tweet, Mohammad Javad Zarif said the sanctions will not absolve Europe of its responsibility for harboring terrorists.
  • Mobile teases

    Mobile teases "9G" because it's as true as AT&T's "5G E"

    So, TMo customers, get ready for "9G" - it's even easier to apply because it doesn't require a software update. The result was a commercial 5G offering a full two years ahead of original estimates.
    Lindsay Lohan Just Re-Created Her Viral #DoTheLilo Dance

    Lindsay Lohan Just Re-Created Her Viral #DoTheLilo Dance

    Lohan has been open about her past struggles with drugs and alcohol , but she hopes people see her business ventures in a positive light.

    John Travolta unveils new 'wig'-free bald look in viral post

    This Christmas, John and his wife Kelly Preston celebrated at home with their son Ben and daughter Ella and appeared to have hosted a family party for New Year.
  • Rod Rosenstein To Leave DOJ Once New Attorney General Confirmed

    Rod Rosenstein To Leave DOJ Once New Attorney General Confirmed

    At the earliest, Barr's confirmation vote would take place in mid-February. She says he wants to help with the transition to a new attorney general.
    World Cup victor  Pavard to join Bayern Munich from July 1

    World Cup victor Pavard to join Bayern Munich from July 1

    VfB Stuttgart and France defender Benjamin Pavard will be joining Bayern Munich at the end of the 2018-19 season. He has featured 14 times for a struggling Stuttgart this season, with the club now 16th in the Bundesliga table.
    Acer Predator Triton 500 hands-on: RTX without the size compromise

    Acer Predator Triton 500 hands-on: RTX without the size compromise

    I'm not sure ergonomics is top of mind for most gamers who are willing to shell out $4,000 for a laptop, but it can't hurt either. All three Triton 500 models use the Core i7 8750H CPU, come in at just 0.70 in thick (17.9 mm), and will weigh 4.6 lbs (2.1 Kg).


Most liked

China offered to help kill investigations into 1MDB
The journalists reviewed minutes from meetings between Chinese and Malaysian officials that had not been disclosed before. The allegations have been denied by Najib, as well as by the Chinese embassy in Kuala Lumpur, according to Malaysiakini .

The best overall diets for 2019
The Mediterranean diet took over the No. 1 spot from the DASH diet, which had maintained the top ranking for eight years in a row. The plan also involves in-person meetings or online chats created to support those in the program and keep them accountable.

HBO confirms the cast and director of Game of Thrones' prequel pilot
If green-lighted, the GOT prequel will explore and unravel the secrets of how Westeros came to be, and the origins of key characters and families depicted in " Game of Thrones ".

Trump doubles down on push for border wall in televised address
So, how do we untangle this mess? There is an obvious solution: separate the shutdown from the arguments over border security. McConnell urged Democrats to "come to the table and help deliver a solution" to reopen the government.

Hardik Pandya served show cause notice after misogynist remark
On Wednesday, Pandya issued an apology on his Twitter account, stating that he got a bit carried away by the nature of the show. He added that he sees himself as more from the black side, thus, it is necessary for him to check out the way women move.

Photoshop fail: what is going on with the Australian PM’s feet?
Enter internet trolls who wasted no time mocking the Prime Minister . The site later appeared to revert to the original shoes. The original photo has now been restored.

Downtown pipeline protest draws small crowd
In the context of climate change, May said continuing to develop fossil fuels in Canada was not in the nation's economic interest.

Bayern Munich Have Offered Callum Hudson-Odoi The Number 10 Shirt
I saw him every day in training. "If I was his agent, I'd be sitting down with him and saying be patient, stay at Chelsea ". Hudson-Odoi has refused to discuss a new contract with Chelsea , having been offered a five-year deal last summer.

Peru Bans Entry To Maduro And Other Members Of Venezuela Government
The 14-members of the "Lima Group" met in the Peruvian capital on Friday to discuss ways to step up pressure on Maduro's regime. The election was dismissed by many countries as a sham.

World's most powerful passport revealed as United Kingdom slips down the rankings
That's the view of the Henley Passport Index, which periodically measures the access that each country's travel document affords. Both Britain and the USA fell from joint fifth place in last year's Henley Passport Index , to joint sixth in this year's...

Egyptian Mo Salah bags African Footballer of the Year award
Unhappy with his two-goal return, Chelsea lent Salah to Italian outfits Fiorentina and Roma, then sold him to the latter club. He became the first player to do so after Ivory Coast's Yaya Toure, who claimed it four years in a row between 2011 and 2014.

Egypt pressures CBS to spike 60 Minutes interview with President el-Sissi
El-Sissi has since taking office in 2014 met at least twice with Israeli Prime Minister Benjamin Netanyahu. The programme said Cairo had asked the network not to air the interview but did not give further details.

UK new car sales slump ahead of Brexit existential threat
In the AFV sector, petrol electric hybrids remained the most popular choice, up +21.3 per cent to 81,156 units. She went back to the data, nearly 30 per cent reflecting the development in other countries.

India announce ODI, T20 squad for Australia series, Bumrah gets break
Jasprit Bumrah had an outstanding show in the recently concluded Border-Gavaskar Test series against Australia. India will play a three-match ODI series starting from January 12 followed by a tour of New Zealand.

Oil prices rise on trade talk optimism, OPEC cuts
On Friday, crude oil futures ended up $0.87, or 1.9%, at $47.96 a barrel, extending gains to a fifth successive session. China and the U.S. agreed to a ceasefire in their trade war at the G20 summit in Argentina at the end of November 2018.