China trade talks end, but has anything changed?

A woman walks past a bench painted in the colours of the U.S. flag outside a clothing store in Beijing China

Negotiators began the talks Monday on the trade war launched by U.S. President Donald Trump in July with tariff hikes on Chinese goods in response to complaints that Beijing steals or pressures companies to hand over technology.

It appears trade talks between the USA and China are going well as reports suggest the two sides are getting closer on settling their differences.

"Both parties agreed to continue to maintain close contact", the ministry said.

Trump and Xi have given their officials until March 1 to reach an accord on "structural changes" to China's economy on issues such as the forced transfer of American technology, intellectual-property rights, and non-tariff barriers.

Chinese traders and refiners are still cautious about buying US crude until the trade problems between the world's two biggest economies are resolved, but if they are, chances are USA crude exports would get an additional boost.

The results of the talks would be analysed at a separate meeting between USA trade representative Robert Lighthizer and Chinese Vice-Premier Liu He. -Chinese talks aimed at ending a costly tariff battle wrapped up Wednesday in an optimistic atmosphere, with President Donald Trump saying they were "going very well!".

"Actively implementing the important consensus reached by the two heads of state, both sides held broad, in-depth and detailed exchanges on trade issues of mutual concern as well as structural issues". Trump tweeted on Tuesday.

While signals from the latest round of talks were upbeat, if a deal is not reached by March 1, the U.S. side may follow through on raising tariffs on US$200 billion in Chinese goods from 10 per cent to 25 per cent.

The global economy has been suffering from the chilling effect of a trade war between the world's two largest economies.

The three-day talks between the United States and China ended on Wednesday.

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Beijing on Friday cut bank reserve requirements amid slowing growth at home and pressure from the US tariffs. USA government data shows the Asian nation scooped up more than 2.6 million metric tons of beans in December and at least another 1.3 million were sold this year, according to people familiar with the matter. That uncertainty left Asian stock markets mixed Thursday.

China also restarted purchases of American soybeans last month, providing relief for a crop hit by Chinese retaliatory tariffs.

"It's been a good one for us", he told reporters at the delegation's hotel, without elaborating.

Three days of U.S. The 28-nation trade bloc filed its own challenge in the World Trade Organization in June against Chinese licensing rules it said hamper the ability of foreign companies to protect and profit from their technology.

A senior Chinese official said Beijing plans to introduce policies to boost domestic spending on items such as autos and home appliances this year.

Still, the US statement said the negotiations dealt with the need for any deal with China to be "subject to ongoing verification and effective enforcement" - a comment that reflects USA frustration that the Chinese have failed to live up to past commitments.

As the trade talks wound down, China's top economic official, Premier Li Keqiang, met with CEO Elon Musk of electric vehicle brand Tesla Inc.

The Communist country has been hit with an economic slowdown and its auto sales have dropped 19 percent last month from the year before, the steepest decline in China in almost three decades. "Progress should include a mechanism for the removal of tariffs and measurable, commercially meaningful outcomes", the U.S. "I really believe they want to make a deal".

On Monday, Chinese importers made another large purchase of USA soybeans, their third in the past month.

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