US-CHINA 3-DAY TRADE TALKS CONCLUDE ON OPTIMISTIC NOTE

BEIJING: China and the US wrapped up three days of trade talks and are reportedly coordinating how to characterize the results publicly as officials from both nations expressed optimism that progress had been made.

People familiar with the discussions said positions were closer on areas including energy and agriculture but further apart on harder issues. As of 8.25pm in Beijing, neither China nor the US had released a statement—a possible sign of message coordination as the US delegation returned to Washington.

Stocks rose across Asia and Europe, and equity futures indicated an increase in the US on Wednesday, on signs the world’s two largest economies are trying to resolve their trade war.

Chinese foreign ministry spokesman Lu Kang said a oneday extension in talks showed both sides are serious about the talks. Some disagreements remain on structural issues and they need to be addressed when more senior negotiators meet later on, according to Chinese officials involved in the discussions who asked not to be named.

The editor-in-chief of the Global Times, a state-run Chinese newspaper known for its nationalist leanings, said on Twitter around 4pm in Beijing that he’d heard the two sides were still consulting on the wording of coordinated statements.

China and the US plan to release a message on trade talks at the same time on Thursday morning in Beijing, he said later in another tweet. The talks, though arduous, were conducted in a pleasant and candid atmosphere, he said. Later this month, US trade representative Robert Lighthizer is expected to meet vice premier Liu He, President Xi Jinping’s top economic aide who is leading negotiations for China, a person familiar with the situation said last week. Liu made a brief appearance at the talks in Beijing on Monday, boosting optimism that China was serious about making progress on a deal.

The talks were the first face-toface meeting between the two sides since their leaders met on December 1. The negotiations were extended from the two days initially scheduled. President Donald Trump tweeted “Talks with China are going very well!” late on Tuesday in Beijing.