Published: Fri, October 11, 2019

Trump says he will meet China Vice-Premier Liu He on Friday

Trump says he will meet China Vice-Premier Liu He on Friday

However, negotiators heading to Washington aren't optimistic about securing a broad agreement that would end the trade war for good.

Without significant progress, Trump is set to hike the tariff rate on $250 billion worth of Chinese goods to 30% from 25% next Tuesday.

Top-level officials from the world's two largest economies were expected to meet Thursday and Friday in Washington to hash out differences that have dragged out the US-China trade war for more than a year.

The latest comments fueled optimism that had been dulled earlier after China urged the United States to stop unreasonable pressure on Chinese companies, while the South China Morning Post reported that the two sides made no progress in deputy-level trade talks earlier in the week.

Notably, greenback strength, assessed through the USA dollar index which is measured against six major currencies, were seen little changed despite the abovementioned development.

The report cites an official with direct knowledge of talks, saying that China is still open to agreeing a partial trade deal with the USA despite the events that has transpired this week.

For the day ahead, look to a slew of data releases ahead of the US-China meeting commencement.

The world's two biggest economies are deadlocked over US allegations that China steals technology and pressures foreign companies to hand over trade secrets as part of a sharp-elbowed drive to become a world leader in advanced industries such as robotics and self-driving cars.

Just since Monday, Washington has imposed visa restrictions on senior Chinese officials and blacklisted more than two dozen Chinese firms, accusing them of persecuting ethnic Uighur Muslims in China's western Xinjiang region. "If we can make a deal, we're going to make a deal, there's a really good chance", said Trump. Those include laws around intellectual property theft and the forced transfer of foreign technology.

"Big day of negotiations with China".

Markets over the prior 24 hours had pinned their hopes on media reports that Beijing will propose a partial trade deal to prevent further escalation.

But Clete Willems, a former Trump trade advisor, said Wednesday a partial deal could be the president's best move. "They want to make a deal, but do I?"

Chinese side came with great sincerity.

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