BEIJING (AP) — Three days of U.S.-Chinese talks aimed at ending a costly tariff battle wrapped up Wednesday in an optimistic atmosphere after President Donald Trump said they were “going very well!”
No details were immediately announced, but stocks rose after talks planned for two days were extended to three. Hong Kong’s main market index closed up 2.1 percent and Tokyo rose 1.1 percent.
A Chinese foreign ministry spokesman, Lu Kang, announced the talks had ended. Lu said he had no details and an official statement would be issued later.
The talks that started Monday were the first face-to-face meetings since Trump and his Chinese counterpart, Xi Jinping, agreed on Dec. 1 to suspend further action against each other’s imports for 90 days while they negotiate over U.S. complaints that Beijing steals or pressures companies to hand over technology.
“Talks with China are going very well!” Trump said late Tuesday on Twitter.
Washington wants Beijing to change plans for government-led creation of Chinese leaders in robotics and other advanced technologies.
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.
Neither side has given any indication its basic position has changed. Economists say the 90-day window is too short to resolve all the conflicts between the biggest and second-biggest global economies.
“Even if a deal is cobbled together, the more strident trade hawks in the White House and Trump may not sign off,” Mizuho Bank’s Vishnu Varathan said in a report.
Chinese exports to the U.S. 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. Forecasters expect American orders to slump this year.
China has imposed penalties on $110 billion of American goods, slowing customs clearance for U.S. companies and suspending issuing licenses in finance and other businesses.
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