China says U.S. trade talks 'laid foundation' to resolve concerns

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Neither side has said when the two countries will meet again for further negotiations.

"Amid high hopes that world's two large economies will reach an agreement in the trade talks, stocks in Europe saw large gains on Wednesday".

It appears trade talks between the US and China are going well as reports suggest the two sides are getting closer on settling their differences.

US and Chinese envoys extended trade talks into a third day Wednesday after President Donald Trump said negotiations aimed at ending a tariff war were "going very well!".

The discussions marked the first formal talks since the US President Donald Trump and his Chinese counterpart Xi Jinping agreed not to impose new tariffs at the G20 summit in December.

"These issues are much more hard to solve immediately but are, frankly, much more compelling to US companies", said Jake Parker, vice president for China operations of the US-China Business Council, which represents American companies that do business with China. The Asian markets reached almost one-month highs on speculation that the world's two largest economies were hammering out a deal, Schmitz said.

So far, the US side has described the exchanges in a positive light.

USA stocks surged Wednesday on optimism that the midlevel talks in Beijing will be followed up with discussions between higher-ranking US and Chinese officials.

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The U.S. Trade Representative's office issued its own statement a day earlier, . and said China has pledged to purchase "a substantial amount" of agricultural, energy and manufactured goods and services from the U.S.

She added that the Trump administration's complaint that China is stealing USA intellectual property is "top of mind" in the negotiations with Beijing.

In addition to the large trade deficit, the USA has long complained about such structural issues.

The United States has long complained about access to the vast Chinese market and Beijing's demands US companies reveal their technology advances.

Chinese officials have suggested Beijing might alter its industrial plans but reject pressure to abandon what they consider a path to prosperity and global influence. Lu said he had no details and an official statement would be issued later. "Without some progress already made, there would not be an extension to the negotiations", he told NPR. -China Business Council. "That is very positive".

Signals from the latest round of talks were upbeat, the Post report said.

Chinese exports to the US have held up despite tariff increases of up to 25 percent on $250 billion of Chinese imports, partly due to exporters rushing to fill orders before more increases hit. "Instead of making honest efforts to solve its domestic problems, it resorts to unilateralism and protectionism, breaks the rules-based worldwide order, coercing allies to accept unfair treaties, triggering trade frictions with China, and blocking technology transfer while trying to contain China's rise".

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