U.S. and China Restart Trade Talks Ahead of March Deadline

db748-img.png

President Donald Trump expressed optimism that U.S.-China trade talks in Beijing are progressing well, as Chinese authorities planned to give a statement following the latest round of negotiations.

“Talks with China are going very well!” Trump tweeted on Tuesday as the sides wrapped up two days of mid-level meetings.

Before the talks ended earlier on Tuesday, Chinese foreign ministry spokesman Lu Kang told reporters at a regular briefing Tuesday in Beijing that “I believe we will release a detailed readout after they are concluded.” No timing was given and it wasn’t immediately clear if the U.S. delegation would release a statement.

U.S. stock futures and European equities jumped as investors awaited developments on trade talks between the world’s largest economies.

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.” Vice Premier Liu He made an appearance at the talks on Monday in a sign the Chinese were also pushing for a positive outcome.

Liu, the chief economic adviser to Chinese President Xi Jinping, made brief remarks at the negotiations, a person familiar with the meeting said. Asked about his presence on Tuesday, Lu from the foreign ministry said it wasn’t surprising for Liu to be there. Liu led a previous round of talks in Washington last year that ended in failure, and he’s expected to meet chief U.S. negotiator Robert Lighthizer later this month.

Read more here.