China confirms trade talks with U.S. beginning Monday

China confirms trade talks with U.S. beginning Monday

China confirms trade talks with U.S. beginning Monday

Asian markets rebounded Friday on hopes that upcoming trade talks between the US and China will calm a trade dispute that has rattled global markets. China's Shanghai Composite and Hong Kong's Hang Seng Index were both up about 2%.

European shares also recouped earlier losses, with Germany's DAX Performance Index and France's CAC 40 Index closing almost 1 percent higher.

The US team will be led by Deputy Trade Representative Jeffrey Gerrish, the ministry said. In the meantime we are doing well in various Trade Negotiations now going on.

The Ministry of Commerce said Friday the two days of talks are aimed at carrying out last month's agreement by Presidents Donald Trump and Xi Jinping to postpone new tariff hikes in their battle over Beijing's technology policy.

Back in Argentina, the two leaders agreed a 90-day truce on new tariffs, which is set to expire on March 1.

China and the United States have been engaged in a trade war since Trump announced in June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit.

President Trump initiated the trade war because of complaints over unfair Chinese trade practices, concerns shared by the European Union, Japan and others.

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"While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China", Cook wrote.

Instead, more than 70 percent of USA firms operating in southern China are putting off further investment there and moving some or all of their manufacturing to other countries.

A couple of factors have created the weak sales environment in China for the Apple iPhone, which led Apple to cut its guidance on fiscal first quarter revenue.

"It's not going to be just Apple", Hassett said.

In the same year, late paramount leader, often credited with China's "Reform and Opening" policy which led to its economic transformation, met U.S. president in the United States.

Trump reported "big progress" in trade negotiations after a phone call with Xi last week.

"Lighthizer was a mentor to him, so I think they share a similar world view", Scott Kennedy, a China expert at the Center for Strategic and International Studies told the Financial Times. "If we have a successful negotiation with China then Apple's sales and everybody else's sales will recover". Hassett says that Apple and other USA companies operating in China, will see their business return in the country if the US can have a successful negotiation with China.

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