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Trump, who has been accusing China of indulging in unfair trade practices contributing to the huge trade deficit with the U.S. amounting to Dollars 375 billion, on Tuesday said the trade talks with Beijing were going on "very well".

China's Ministry of Commerce said Thursday the two sides would "maintain close contact".

China said talks with the United States "laid the foundations" to resolve a damaging trade dispute between the world's two largest economies.

Citing unidentified Chinese officials involved in the trade talks, Bloomberg reported January 9 that there were disagreements between the two delegations on structural issues, which they hope will be addressed when more senior negotiators meet for talks.

U.S. -CHINA TALKS: Official statements released after the talks, which lasted a day longer than planned, did not say if progress was made on ending a tariffs battle that has shaken financial markets. The statement said that the participants in the Beijing meetings discussed "ways to achieve fairness, reciprocity and balance in trade relations between our two countries".

The meeting between the US delegation - led by Deputy US Trade Representative Jeffrey Gerrish and including officials from the Treasury, Commerce, Agriculture and Energy Departments - and the Chinese side ran late into Tuesday night.

They include changes to China's policies on intellectual property protection, technology transfers, industrial subsidies and other non-tariff barriers to trade.

Officials also stressed the necessity that any trade deal with Beijing would require "ongoing verification and effective enforcement", according to a readout released by the office of the US Trade Representative.

Trump said the US tariffs had hurt China.

As evidence mounts by the day that the slowdown in China's economy is worsening, policy makers in Beijing are focusing on getting rid of the duties that Trump has leveled on Chinese goods since a year ago, according to a former high-level official briefed on the government's thinking. But neither side appears to have budged, and economists say three months is too little time to resolve issues that have disrupted U.S.

Trade negotiations between US-China mid-level officials seem to have taken a favorable turn.

Trump has complained repeatedly about the United States trade deficit with China, which past year likely exceeded the 2017 gap of $336 billion. That includes giving specific dates for making purchases, and making assurances that Beijing won't hinder US companies from gaining access to China's market.

Share prices had risen Wednesday after President Donald Trump fueled optimism about possible progress by saying on Twitter talks were "going well!"

Global Times editor Hu Xijin said that of the issues raised, the trade imbalance problem was "solved most smoothly".

In November, Chief Executive of the Russian Export Center Andrey Slepnev said that the projected figure of $100 billion worth of mutual Russia-China trade could double in the years ahead.

For their part, Chinese officials are unhappy with USA curbs on exports of "dual use" technology with possible military applications.

"The earlier escalation of the trade conflict between the US and China and souring bilateral relations appear to have given way to a more conciliatory approach since early December", he wrote in a note Thursday.

Beijing's growing commercial and political ties with its neighbours will make it harder for Washington to find Asian countries willing to help it try to "contain China", the newspaper said.

USA exports to China have also been hit by retaliatory tariffs, slumping by 42 percent in October on the goods affected, according to the US-based consultancy, The Trade Partnership.


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