Trump Lauds Progress as Day Two of Beijing Trade Talks Wrap Up

Trump Lauds Progress as Day Two of Beijing Trade Talks Wrap Up

"The Chinese side immediately sent military vessels and aircraft to conduct verification and identification on the US ship and warned it to leave", Lu told the briefing.

Hopes that the USA and China would strike a deal, ending their months-long trade deal led to an index of world stocks rising on Tuesday, while the dollar, which hit an 11-week low on Monday, rebounded as the euro weakened on concerns about a slowdown in the euro zone economy.

"The main thing is the administration's implied progress on talks with China - that's something that market sees as very important", said Rick Meckler, partner at Cherry Lane Investments.

Officials on both sides have said little else about the progress of discussions so far, though a leaked photo from Monday indicated a surprise appearance of Liu He, China's vice-premier, at the otherwise low-ranking meeting.

The U.S. team, led by Deputy U.S. Trade Representative Jeffrey Gerrish, included under secretaries from the Departments of Agriculture, Commerce, Energy and Treasury, and senior officials from those agencies and the White House. "The Chinese side firmly opposes the relevant action by the US side and urges the immediately stop such provocations".

The first round of comprehensive trade talks between the U.S. and China since the countries declared a tentative ceasefire late a year ago is set to continue for a third day, both sides confirmed on Tuesday.

Trade talks in Beijing were set to continue on Wednesday in the first face-to-face meetings since US President Donald Trump and Chinese President Xi Jinping agreed to a tariff truce during a meeting in Argentina on Dec 1.

"We urge the USA to immediately stop such provocative actions", Chinese foreign ministry spokesman Lu Kang told a regular press briefing, adding that Beijing had lodged a diplomatic complaint with Washington. "That is true in the South China Sea as in other places around the globe", McMarr said. "We have lodged stern representations with the USA side".

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U.S. Commerce Secretary Wilbur Ross expressed optimism on Monday, telling CNBC that "there's a very good chance that we'll get a reasonable settlement".

They are different to the Spratley Islands - a series of artificial islands constructed by the Chinese and which have been fitted with military bases and airfields.

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. "China has the good faith, on the basis of mutual respect and equality, to resolve the bilateral trade frictions".

Trump imposed tariff increases of up to 25 percent on $250 billion of Chinese imports over complaints Beijing steals or pressures companies to hand over technology.

"It is imperative for the two sides to create enabling environment for the talks at this time", he said.

The United States has long complained about access to the vast Chinese market and Beijing's demands USA companies reveal their technology advances.

President Donald Trump argued that China has not treated the USA fairly in terms of trade. That includes giving specific dates for making purchases, and making assurances that Beijing won't hinder US companies from gaining access to China's market. They complain China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged.