Asian, European Stocks Rebound Ahead of US-China Trade Talks

Arturo Kim
January 7, 2019

While Trump and other officials have said talks between the two sides are progressing well, they have given few details on concessions that China has made. The ministry said that it would host the USA team on January 7-8 for high-level talks, during which representatives of both parties will discuss "implementing the important consensus" mapped out by Trump and Xi.

The Trump administration and China are facing growing pressure to blink in their six-month stare-down over trade because of jittery markets and portents of economic weakness.

United States and China have agreed to hold vice-ministerial trade talks in Beijing on January 7th till the 8th. "And if we don't, they're paying us tens of billions of dollars worth of tariffs - not the worst thing in the world".

Trump said earlier in the week that talks between the two were heading in the right direction, after a positive phone conversation.

Now China and the United States face a March deadline for talks to end the damaging trade war, or Washington could proceed with a sharp hike in U.S. tariffs and Beijing could retaliate. Trump argued that his tariff policies were inevitable, saying that "at some point this had to be done" to confront China and other countries that implement unfair trade practices.

The Commerce Ministry confirmed that Gerrish would lead the U.S. delegation at the talks. -China trade war, investors in the USA markets are worrying about rising interest rates and a wobbly US real estate market. "And I think that that puts a lot of pressure on China to make a deal".

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It could mark a turn from most of 2018 when many economists and officials said the Trump administration's higher trade tariffs had yet to seriously hurt USA growth.

"China is the biggest beneficiary of Apple, more than us, because they build their product mostly in China", Trump said.

Should Gerrish take a similarly tough stance to Lighthizer, it could be a rough couple of days for China's negotiators.

Word of the meeting follows small signs of progress - and the absence of new threats from Trump - while the two sides work to ease trade tensions by March 1.

"The rest of the world is slowing, especially Europe and China, but the USA has enough momentum", said Mohamed El-Erian, the chief economic adviser of asset manager and insurer Allianz.

That announcement rocked markets Thursday, but global stocks have bounced back after news of the fresh talks, with futures pointing to a 1% or more gain for all three major U.S. indexes later in the day.

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