Trump to Meet Friday With Chinese Trade Negotiator

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Trump - who has taken the global economy on a white-knuckle ride since launching multi-pronged trade offensives with China, Europe and other allies past year - reiterated Thursday that the outcome was down to him. "We just don't know what that something is", said Larry Benedict, the CEO of The Opportunistic Trader.

Any significant escalations of trade tensions have been followed by sharp pull-backs in US stocks, as seen in May, when President said he would raise tariffs to 25 percent from 10 percent on $200 billion of Chinese imports.

Shortly after the start of the meeting, Trump tweeted, "Big day of negotiations with China".

White House officials soon responded to the report, however, dismissing any rumors that Liu had plans to leave Washington early and assuaging some of the fears.

The comment came just as a delegation led by Vice Premier Liu He began negotiations with Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin in Washington, the first high-level meetings since almost a dozen rounds collapsed in May.

"The Chinese side came with great sincerity, willing to cooperate with the United States on the trade balance, market access and investor protection", Xinhua quoted Mr Liu as saying on Thursday (local time). "They want to make a deal, but do I?'" Trump tweeted.

China's imports of USA farm goods will also be discussed, as well as steps to free up Chinese financial and other markets and protect intellectual property. The focus point of the talks is expected to be whether Beijing will agree to expand imports of USA agricultural products to try and delay the tariffs. While Trump committed to the move after meeting President Xi Jinping in June, no licenses have been issued yet.

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"Next year will not get prettier for China in a presidential election year", he said.

Washington accuses China of attempting to dominate global industry through massive state intervention in markets, theft of intellectual property, hacking and subsidies, accusations shared by Europe and Japan.

President Donald Trump announced Thursday he would meet with the top Chinese trade negotiator at the end of the week.

The Trump administration on Monday evening added 28 Chinese companies to its entity list, barring them from doing business with the U.S. In addition, the administration restricted visas for Chinese officials and said it was considering limiting government pension fund investments in China and that it would form a "study group" to review Chinese listings on U.S. stock exchanges.

China's purchases of U.S. soybeans jumped in September after stagnating during the summer. That would extend to import taxes to virtually everything China ships to the United States.

The benchmark stock index, however, reclaimed most of the lost ground over Wednesday and Thursday as Beijing and Washington's continued willingness to talk supported hopes that the latest talks would yield at least a partial deal.

"I think neither side will admit it but I think they're both under pressure to find a way to forestall the next set of tariff increases", she said.

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