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U.S. hails progress in China talks amid push to close the deal

U.S. hails progress in China talks amid push to close the deal”

"There is indeed a lot of progress being made", said Myron Brilliant, executive vice president of the US Chamber of Commerce. High-level trade talks between the countries resumed in Washington yesterday amid speculation that Mr Trump and President Xi were on the brink of scheduling a meeting to put pen to paper on a deal.

In a tweet earlier today, Trump said a deal was "moving along nicely".

The U.S. and Chinese negotiators on Wednesday began their ninth round of talks to resolve the dispute over American allegations that Beijing is using predatory tactics in a campaign to challenge U.S. technological dominance.

The two sides remain deeply at odds over punitive United States tariffs on Chinese goods.

It remains unclear whether the United States will cancel some or all of the tariffs the president imposed past year on more than US$250 billion ($369.9b) worth of Chinese imports. I believe that it's far better if our people agreed and did not produce these kinds of weapons, "United States Commander in chief Donald Trump explained on Thursday".

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Around 30 customers were invited to the event, which was also attended by figure skating queen and SKT 5G ambassador Kim Yuna. Three local major mobile carriers launched the world's first full-fledged commercial 5G services at 11 p.m. on Wednesday.

Meanwhile, Chinese President Xi Jinping said in Beijing today that new substantial progress has been made on the China-US economic agreement. China is estimated to spend $168 billion, while Russian Federation is spending only $63 billion.

"I said, 'No, you're president for life, and therefore you're king, '" Trump's recollection continued.

Investor sentiment seems bolstered by Trump's statement Thursday that the US and China were "rounding the turn" in the talks, which resumed Wednesday in Washington.

Nevertheless, China has already made moves in this area, including with plans to import record amounts of USA pork and re-entering the market for US soybeans.

The damaging trade war has already cast a shadow over global trade and the world economy.

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He also expressed appreciation for Xi's decision to crack down on the powerful opioid fentanyl, saying that it is of great importance to Americans, and for the anti-drug cooperation between China and the US.

Boone warned tensions between the US and China would most likely continue well beyond an expected trade deal over the coming weeks.

Mr Xi assured Mr Trump that text of the China-US trade deal could befinalised soon, in a message conveyed by Liu He. "Those issues are critical: Manufacturers in the United States have always been harmed by China's unfair trade practices". China's market price support policy artificially raises Chinese prices for grains above market levels, creating incentives for increased Chinese production of agricultural products and reduced imports.

But the U.S. has indicated it will keep them in place until it's certain China will comply.

Gary Clyde Hufbauer, a former USA trade official and senior fellow at the Peterson Institute for International Economics, said lifting the tariffs too early could encourage criticism from Democrats that he had gone soft in the negotiations.

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