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"The US is very clear about China's stance".

The vice-ministerial level talks are working-level discussions and not meant to yield a final agreement.

Negotiators from the US and China had extended their trade talks to a third day, which investors took as a sign the trade discussions were productive even though the two sides didn't announce any breakthroughs. US and North Korean officials are believed to have met in Vietnam to discuss a location.

The global economy has been suffering from the chilling effect of a trade war between the world's two largest economies.

ANALYST'S TAKE: "While there was agreement on less thorny issues such as agriculture and energy, USA demands for verification and enforceable targets on intellectual property rights, transfer of technologies and non-tariff barriers may not be that easily addressed", DBS Group Research strategists Eugene Leow and Neel Gopalakrishnan said in a commentary.

A man checks on his mobile phone near the main entrance gate of the Ministry of Commerce in Beijing, Wednesday, Jan. 9, 2019.

Later this month, Lighthizer is expected to meet with Vice Premier Liu He, Xi's top economic aide who is leading negotiations for China.

The US team also pressed China on its efforts to protect intellectual property theft and forced technology transfers - two central complaints underpinning the trade war. They complain China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged.

China says it is trying to protect its own economic interests and has accused the USA of violating global trading rules.

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However, both sides still have a long way to go, with Trump carrying an extensive list of demands. If a "REAL" deal with China is possible, the USA will "get it done", Trump tweeted shortly after his dinner with Jinping last month.

Trump imposed import tariffs on hundreds of billions of dollars of Chinese goods past year and threatened more to pressure Beijing to change its practices on issues ranging from industrial subsidies to intellectual property and hacking. Apple Inc. cut its revenue outlook last week as sales of the iPhone were slower than expected in China, while data on factory activity and retail sales in the Asian nation were also weak.

A range of Fed policymakers said last month they could be patient about future interest rate increases and a few did not support the central bank's rate increase that month, minutes from their December 18-19 policy meeting showed. As in the 1930s, the escalating economic and trade rivalry is bound up with the U.S. preparations for a catastrophic war involving nuclear-armed powers.

Among their many requests, USA negotiators are asking the Chinese to increase purchases of American farm and energy commodities; allow greater access into China's markets; improve and enforce property theft protections; and an end of China's policy of forcing foreign companies to hand over technology secrets. The two sides have shown signs of common ground in the past year, only for progress to stall.

The truce came after the two sides imposed import duties on more than $300 billion of each other's goods.

In what was widely seen as a goodwill gesture, China on Tuesday issued long-awaited approvals for the import of five genetically modified crops, which could boost its purchases of US grains as farmers decide which crops to plant in the spring.

China's foreign ministry confirmed the negotiations had ended in Beijing but declined to comment on the outcome, saying details would be released later.

The two delegations were led by U.S. deputy trade representative Jeffrey Gerrish and China's vice-minister of commerce, Wang Shouwen. Preliminary discussions were "a little more optimistic than usual", White House economic adviser Larry Kudlow told Bloomberg TV Friday.


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