Global stocks are lifted by news that China-US trade talks in Beijing are extending into an unscheduled third day, with signs of good progress. It’s confirmed by a US Trade Representative spokesperson who said “a statement will likely follow then.” Nevertheless, the extension itself is affirmative as both sides need time and efforts to full exchange their views before getting close to an agreement by 90-day deadline on March 2.
Trump tweeted yesterday that “Talks with China are going very well!” Reuters also reported quoting unnamed source saying “Overall the talks have been constructive. Our sense is that there’s good progress on the purchase piece.” However, it’s unknown how China is going to address a key issue of intellectual property theft.
But at least, this week, China issued long-awaited approvals for import of five genetically modified crops which would boost import of US grains. There was also another larger purchase of US soybeans. These are widely seen as gestures of good will.
Separetely, the China Daily said in an editorial China “will not seek a solution to the trade frictions by making unreasonable concessions, and any agreement has to involve give and take from both sides,”
