Trump bullish on U.S.-China trade talks

Dow, S&P 500, and Nasdaq futures mostly traded sideways ahead of Monday’s opening bell

China's economy was more vulnerable to the fallout from the trade war, he said, noting that Beijing exports more goods to the United States than the other way around.

Asked about the timing of the operation during trade talks, Lu said resolving issues would benefit the two countries and the world.

The statement came as trade talks between China and the United States were under way in Beijing, the first round of face-to-face discussions since both sides agreed to a 90-day truce in a trade war that has roiled global markets. He is pushing to address concerns of China's alleged theft of intellectual property and market-access barriers, as well as to demand structural economic reforms.

This time around, though, the U.S. has sent members of the Office of the U.S. Trade Representative, including Deputy Jeffrey Gerrish, USTR Chief Agricultural Negotiator Gregg Doud, and Ted McKinney, the Under Secretary for Trade and Foreign Agricultural Affairs at the U.S. Department of Agriculture.

US negotiators are headed into talks with Chinese counterparts as the two countries seek a deal to end a trade war that has raised fears of global economic turmoil.

Chinese Foreign Ministry spokesman Lu Kang said that the conduct of the USA ship had violated China's and global law, and that China had sent military ships and aircraft to identify and warn off the ship.

Trump imposed tariff increases of up to 25 per cent on $250 billion United States of Chinese imports.

Trump said on Sunday that trade talks with China were going very well and that weakness in the Chinese economy gave Beijing a reason to work toward a deal.

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As Chinese tariffs take a bigger bite out of profits, USA manufacturers with operations there are scrambling to find alternatives. The longer their trade war lasts, the longer companies and consumers will feel the pain of higher-priced imports and exports.

The statement came as trade talks between China and the United States were under way in Beijing, the first round of face-to-face discussions since both sides agreed to a 90-day truce in a trade war that has roiled worldwide markets.

"China's position in the China-US trade friction and its solutions to the friction is open, it's transparent", Lu said at a regular press briefing.

Trump imposed tariff increases of up to 25 percent on $250 billion of Chinese imports over complaints Beijing steals or pressures companies to hand over technology.

Since March, the USA has slapped tariffs on $250 billion worth of Chinese goods, while China has placed a series of retaliatory tariffs on US goods totaling $110 billion.

The Wall Street Journal reported Tuesday the two sides were narrowing their differences, with Chinese officials offering greater purchases of USA goods and services and Cabinet-level follow-up meetings expected later this month. "We have firm confidence in the strong long-term fundamentals of the Chinese economy". And to me those are immediate trade.

Treasury Sec. Steve Mnuchin has led previous in-person trade meetings for the U.S. Those meetings have included top U.S. trade officials including Commerce Sec. Preliminary discussions were "a little more optimistic than usual", White House economic adviser Larry Kudlow told Bloomberg TV Friday.

U.S. Secretary of State Mike Pompeo told CNBC that the United States and China are "making progress" on trade.

Six months after Trump first slapped tariffs on Chinese goods, signs are growing that the trade war is exacting an economic and financial cost, increasing the incentive for both sides to end the conflict.

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