What hope for markets in the US-China trade talks?

USS Mc Campbell departs U.S. Fleet Activities Yokosuka and transits into Tokyo Bay

USS Mc Campbell departs U.S. Fleet Activities Yokosuka and transits into Tokyo Bay

Mnuchin has been a more moderate voice in trade talk discussions, with reports indicating he's against the trade war between the two countries, whereas U.S. Trade Representative Robert Lighthizer and his deputy Jeffrey Gerrish view the need for a tougher stance on China and trade.

US Commerce Secretary Wilbur Ross signalled in a CNBC interview on Monday that there was a "very good chance" of reaching an agreement.

The first round of comprehensive trade talks between the USA and China since the countries declared a tentative ceasefire late a year ago is set to continue for a third day, both sides confirmed on Tuesday.

The S&P 500 Index has fallen about 8 per cent since Trump and Chinese President Xi Jinping agreed on a 90-day truce at a December 1 meeting in Argentina. Key issues to be discussed include us demands over trade imbalances, market access, and protection of intellectual property.

USA negotiators are headed into talks with Chinese counterparts as the two countries seek a deal to end a trade war that has raised fears of global economic turmoil.

"We urge the United States to immediately cease this kind of provocation", said Lu Kang, a spokesperson for the ministry.

On Monday, a U.S. Navy Arleigh Burke-class guided-missile destroyer sailed near islands disputed between China, Vietnam, and Taiwan in the South China Sea.

U.S. President Donald Trump, in a post on Twitter from Washington on Tuesday, reiterated his recent statement that the talk with China were going well but gave no other details.

State newspaper China Daily said on Wednesday that Beijing is keen to put an end to its trade dispute with the United States, but that it will not make any "unreasonable concessions" and that any agreement must involve compromise on both sides. "China has the good faith, on the basis of mutual respect and equality, to resolve the bilateral trade frictions".

Trump raised import duties on Chinese goods in July over longstanding complaints Beijing steals technology or pressures foreign companies to hand it over.

Even so, Lu said, "China's development has ample tenacity and huge potential". He added the US has rebuilt China and he didn't believe they were ready to negotiate yet. The Chinese side has suggested talks were "constructive".

But a United States government official told AFP on condition of anonymity that "the trade talks have continued today (Wednesday)", without providing more information.

Another photo shows a wider view of dozens of officials from each country seated at three long tables facing each other and around the room's borders, significantly more people than those attending previous rounds of U.S.

The U.S. delegation includes under secretaries from the U.S. departments of agriculture, commerce, energy and treasury, as well as senior officials from the White House. "We have lodged stern representations with the USA side".

Six months after Trump first slapped tariffs on Chinese goods, signs are growing that the trade war is exacting an economic and financial cost, increasing the incentive for both sides to end the conflict.

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