ibusinesslines.com December 14, 2018

Trump Tweets Trade Talks With Xi 'Moving Along Nicely'

02 November 2018, 02:30 | Kelvin Horton

Trump Tweets Trade Talks With Xi 'Moving Along Nicely'

Trump Tweets Trade Talks With Xi 'Moving Along Nicely'

"Opec and other major producers appear to have gotten the message from US President Donald Trump and increased production, but there are still questions on how much will the sanctions actually impact Iranian exports", said National Australia Bank senior forex strategist Rodrigo Catril.

Stock markets in China gained on Friday after US President Donald Trump said trade talks with Beijing were "moving along nicely".

The push for a possible deal with China was prompted by the president's telephone call with Xi on Thursday, the people said, requesting anonymity to discuss internal deliberations.

Dealers were set for a strong end to a healthy week after Mr Trump's tweet, which was a rare sign of hope in the months-long stand-off between the world's top two economies that many fear could batter global growth.

Neither leader specified any details of possible progress in their first known direct discussion in several months.

China and the United States can overcome their differences and get relations back on track if they work together in a spirit of mutual respect, Chinese Premier Li Keqiang told a group of visiting US politicians on Thursday.

Trump has long threatened to impose tariffs on all $500 billion-plus goods that the United States imports from China if Beijing fails to meet his demands for sweeping changes to its policies on intellectual property, technology transfers, industrial subsidies and local market access.

Pompeo's comments were the latest slur to come out of Washington, which has accused Beijing of meddling in U.S. politics, conducting cyber espionage against aviation firms and hacking Trump's iPhone.

According to a report by state broadcaster CCTV, Li said China and the U.S. had benefited from cooperation, and that they should respect each other's core interests and concerns.

Chinese tech stocks traded in the U.S. are surging across the board.

Trump said earlier on Twitter that he and Xi had a "very good" conversation.

'We talked about many subjects, with a heavy emphasis on Trade. He said further meetings with Xi are being scheduled for the G-20 summit of the world's biggest economies, set for November 30 in Buenos Aires, the first ever such summit in South America. "Also had good discussion on North Korea!"

On Thursday Chinese Premier Li Keqiang also told a group of visiting US politicians that China and the United States could overcome their differences and get relations back on track if they worked together in a spirit of mutual respect.

The two countries have been locked in an escalating trade battle, with each side imposing tariffs on billions of dollars worth of imports from each side.

Meeting a group of Republican lawmakers in Beijing, China's Li noted the China-US relationship's "ups and downs" over the past four decades of diplomatic ties. "China would love to make a deal", Trump told Breitbart at the time.

Alexander was quoted as telling Li that the two countries were "competitors but not adversaries" and that their mutual interests outweighed their conflicts.

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