U.S. and China wrap up trade talks in Beijing. What happens next?

What hope for markets in the US-China trade talks?

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

China has imposed penalties on $110 billion of American goods, slowing customs clearance for US companies and suspending issuing licenses in finance and other businesses.

Some 40 days into the 90-day truce, there were few concrete details on progress made so far. They weren't expected to produce a final deal but optimism about progress had buoyed global stock markets this week. Chinese traders and refiners are still cautious about buying USA crude until the trade problems between the world's two biggest economies are resolved, but if they are, chances are US crude exports would get an additional boost.

They agreed to maintain close contact, the statement said.

Trump said late Tuesday on Twitter that the talks were "going very well!". But aside from some soybean purchases, there has been little sign of big-ticket acquisitions. U.S. West Texas Intermediate (WTI) crude (CLc1) futures rose $2.58 to settle at $52.36 a barrel, a 5.2 percent gain.

U.S. Treasury yields climbed to the highest this year, helped by improved risk appetite, but retreated following dovish commentary from Fed speakers and a strong 10-year note auction. Liu made a brief appearance at the talks in Beijing on January 7, boosting optimism that China was serious about making progress on a deal. -Chinese relations for years.

Such a move would likely prompt further retaliation by China, which has already levied tariffs on US goods, further rattling investors who are nervous about a significant slowdown in China's economy.

Trump imposed tariff increases of up to 25 percent on $250 billion of Chinese imports. "We are moving towards a more balanced and reciprocal trade agreement with China".

The paper said in an editorial that Beijing's stance remained firm that the dispute harms both countries and disrupts the global trade order and supply chains.

There has been some indication of Chinese moves to address concerns regarding forced technology transfer, including recently proposed legislation that would bar local governments from forcing foreign firms to transfer technology or illegally restrict market access.

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Officials discussed the need for any deal to include "ongoing verification and effective enforcement".

"We're hopeful that we can make a deal with China", White House press secretary Sarah Sanders told Fox Business Network on Wednesday.

"I think China wants to get it resolved".

The three-day talks between the United States and China ended on Wednesday.

Asked about his presence on Tuesday, Lu from the foreign ministry said it wasn't surprising for Liu to be there.

The U.S. and China extended a two-day round of trade talks to a third day, according to multiple news reports.

USA stocks surged Wednesday on optimism that the midlevel talks in Beijing will be followed up with discussions between higher-ranking US and Chinese officials.

Big spending on commodities and goods would send a positive signal on China's intent to work with the United States, but would do nothing to resolve the U.S. demands that require hard structural change from China.

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.

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