Economy

China stocks gain on trade war hopes

China stocks gain on trade war hopes

Alexander said he would be discussing trade with Li, though neither of them mentioned the ongoing tariff war in remarks in front of reporters.

"It is possible some good positive things could - I say could - come out of President Trump-President Xi talks". He has also emphasized the need to reduce the US trade deficit with China.

Meeting a group of Republican senators and one congresswoman in Beijing, Li said that over the past four decades of diplomatic ties, the China-U.S. relationship has had its "share of ups and downs".

Markets moved higher after Bloomberg reported US President Donald Trump wants to reach an agreement with Chinese President Xi Jinping at the Group of 20 nations summit in Argentina later this month.

"We talked about many subjects, with a heavy emphasis on Trade", Trump wrote on Twitter Thursday.

China has been hurt over the past months and is having a "hard time" due to strong steps taken by the U.S. against it over trade, United States president Donald Trump has claimed.

The list would apply to imports from China that aren't already covered by previous rounds of tariffs, which may be $257 billion using last year's import figures, Bloomberg reported, citing people familiar with the matter.

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"Just had a long and very good conversation with President Xi Jinping of China", Trump tweeted Thursday morning.

A Justice Department indictment targeted 2 companies based in China and Taiwan and 3 individuals, saying they conspired to steal trade secrets from U.S. semiconductor company Micron Technology Inc. While Beijing is open to striking a deal that narrows the trade deficit, officials have resisted Trump's other demands - including an end to subsidies for strategic industries, a stop to forced technology transfer and more competition for state-owned enterprises.

Chinese tech stocks traded in the United States are surging across the board.

Fujian Jinhua Integrated Circuit Co. and Taiwan's United Microelectronics Corp. were indicted along with three individuals, the Justice Department said. "And let's see what happens", Trump said at a White House event. "China would love to make a deal", Trump told Breitbart at the time.

Trump's posture toward China has been closely watched by investors, who are looking for the possibility of tensions cooling.

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.