Chinese newspaper warns USA not to push too hard on trade

Chinese newspaper warns USA not to push too hard on trade

"Talks with China are going very well!", Trump tweeted on Tuesday, the latest in a series of upbeat messages from him on the negotiations since both his meeting with Xi and the December market turmoil.

Trump imposed import tariffs on hundreds of billions of dollars of Chinese goods past year and threatened more to pressure Beijing to change its practices on issues ranging from industrial subsidies to intellectual property and hacking. "But for China, its very serious", she said.

Trump and Xi agreed to a 90-day postponement of additional tariff increases to take effect January 1.

"It certainly has hurt the Chinese economy", Ross told CNBC, noting that China exports many more goods to the United States than the other way around.

Asked for his reaction on the American ship sailing through the Paracel islands which China claims Xisha islands, Chinese Foreign Ministry spokesman Lu Kang said Beijing has lodged strong protest to the United States on this. The U.S. delegation were seen carrying their luggage with them as they left their hotel for the negotiations on Wednesday morning.

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

Speaking to reporters on Monday, Lu Kang, spokesman for China's Foreign Ministry, expressed hope that the two countries could reach an agreement: "From the beginning we have believed that China-U.S. trade friction is not a positive situation for either country or the world economy".

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"I think that gives them a great incentive to negotiate."

The vice-ministerial level meeting was briefly attended by Liu He, Chinese President Xi Jinping's chief economic advisor, signaling a possible sense of urgency from Beijing. 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 past year that ended in failure.

The immediate trade issues would be easiest to tackle, while enforcement issues and structural reforms - such as intellectual property rights and market access - would be more challenging to resolve, he added.

How China will enforce those measures will be key to any deal.

China lodged a "stern" diplomatic protest with the USA on Monday after its guided-missile destroyer sailed near disputed islands in the South China Sea, asserting that America should stop such "provocative" action and create an enabling environment for successful negotiations on the ongoing trade dispute.

On Monday, Chinese importers made another large purchase of US soybeans, their third in the past month. That includes giving specific dates for making purchases, and making assurances that Beijing won't hinder USA companies from gaining access to China's market. Apple Inc. cut its revenue outlook last week as sales of the iPhone were slower than expected in China, while data on factory activity and retail sales in the Asian nation were also weak. That's because any further tariffs would be felt more directly by USA shoppers, the boost from prior fiscal easing is fading, and China has more scope to support its economy. Beijing slapped 25 percent penalties on $50 billion of American goods, targeting farm areas that supported Trump in the 2016 election, and 10 percent on $60 billion of goods.

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