Trump bullish on U.S.-China trade talks

Stocks keep rising on optimism about U.S.-China trade

The statement came as trade talks between China and the United States were under way in Beijing, the first round of face-to-face discussions since both sides agreed to a 90-day truce in a trade war that has roiled worldwide markets.

Delegations from China and the USA ended talks that had lasted longer than expected. But China has bought only around 5 million tonnes since purchases resumed in December, less than 20 percent of the beans it bought a year earlier.

U.S. -China trade negotiations have concluded after being extended by a day, showing both the sides are serious, according to a Chinese foreign ministry spokesman.

After extending to an unexpected third day, trade talks between US and Chinese officials have concluded, a spokesman for the Chinese foreign ministry announced Wednesday morning.

China's foreign ministry confirmed the negotiations had ended in Beijing but declined to comment on the outcome, saying details would be released later. "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".

The truce came after the two sides imposed import duties on more than $300 billion of each other's goods.

"As for whether the Chinese economy is good or not, I have already explained this".

"We have made stern complaints with the U.S.", Lu said.

USA stock futures also firmed, pointing to another strong day on Wall Street after the S&P 500 gained almost 1 per cent today. The negotiations went a day longer than planned, which means both sides are treating the matter seriously.

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However, people familiar with the talks told Reuters on Tuesday that the two sides were further apart on Chinese structural reforms that the Trump administration is demanding in order to stop alleged theft and forced transfer of USA technology, and on how Beijing will be held to its promises.

The U.S. team is led by Deputy U.S. Trade Representative Jeffrey Gerrish, and includes under secretaries from the U.S. Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from the White House.

There was no immediate USA response to the Chinese complaint.

Delegates to the talks have not yet revealed what specifically was discussed, or if anything was agreed to.

Official U.S. fuel storage data from the Energy Information Administration (EIA) is due at 1800 GMT on Wednesday.

U.S. Secretary of State Mike Pompeo told CNBC that the United States and China are "making progress" on trade. He has publicly said he's eager to make a deal that benefits both sides while also stressing that China's slowing economy and falling stock market signal the country is more desperate than the United States for a speedy outcome.

Futures in London - which last traded over $60 in December - are up for an eighth session, recovering from a 35 percent collapse in the last quarter of 2018.

For its part, Beijing is unhappy with U.S. export and investment curbs, suggesting it might demand concessions.

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