Trump Meets Chinese Vice Premier Amid Tough Trade Talks

President Donald Trump stepped into a round of tough trade talks with China on Thursday after the White House confirmed a meeting between the U.S. president and Chinese Vice Premier Liu He.

The two world powers are taking part in a second series of trade negotiations that started Thursday. The initial talks were held in Beijing two weeks ago.

Speaking to reporters before his meeting with Liu, Trump repeated his strong dislike for previous deals between Washington and Beijing.

“The United States has been ripped off for many, many years by its bad trade deals. I don’t blame China; I blame the leadership of this country from the past,” Trump told reporters before a meeting with NATO Secretary-General Jens Stoltenberg.

“China has taken out hundreds of billions of dollars a year from the United States, and I explained to President Xi [Jinping] we can’t do that anymore,” Trump added.

The talks are aimed at “rebalancing the United States-China bilateral economic relationship,” according to the White House. They are also aimed at avoiding a full-blown trade war after the two countries exchanged tariff threats in March.

Source: VOA news


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China Stocks End Higher amid Hopes for Positive Outcome in Trade Talks

China stocks closed higher on Friday amid hopes that Beijing and Washington will reach a deal in the latest round of trade negotiations.

The blue-chip CSI300 index ended 1 percent higher at 3,903.06, while the Shanghai Composite Index closed 1.2 percent higher to 3,193.30 points. For the week, SSEC rose nearly 1 percent, while CSI300 was up 0.8 percent.

China has offered U.S. President Donald Trump a package of proposed purchases of American goods and other measures aimed at reducing the U.S. trade deficit with China by some $ 200 billion a year.

Meanwhile, China dropped its anti-dumping probe into imports of U.S. sorghum on Friday, a move seen as a goodwill concession as Chinese Vice Premier Liu He was in Washington for trade talks. The CSI300 financial sector sub-index ended higher by 1.35 percent, the consumer staples sector closed up 0.99 percent, the real estate index ended 1.08 percent higher and healthcare sub-index ended higher by 0.99 percent. The smaller Shenzhen index ended up 0.33 percent and the start-up board ChiNext Composite index was higher by 0.3 percent. Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.23 percent, while Japan’s Nikkei index closed up 0.4 percent

Source : Reuters

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European Markets Open Lower amid US-China Trade News

European shares open lower Friday morning as concerns over geopolitics and trade intensify.

The pan-European Stoxx 600 was 0.21 percent lower at 395.32 with most of the sectors in negative territory. On Thursday, the FTSE 100 closed at new record high of 7,787 points A?a��a�? at levels not seen since January 12.

In Asia, markets traded mixed after President Donald Trump said he doubted there would be a U.S.-China trade deal. Separately, the president offered wealth and security to North Korea’s leader in exchange for dropping a nuclear program.

Investors will also monitor the bond market, after the 10-year Treasury yield hit another seven-year high on Thursday at 3.128 percent.

Source : CNBC

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