Asian markets soar on hopes of end to US-China trade war



China has been hurt over the past months and is having a "hard time" due to strong steps taken by the U.S. against it over trade, USA president Donald Trump has claimed. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina, ' he tweeted.

Trump has asked key US officials to begin drafting potential terms, Bloomberg said, adding that the push for a possible deal with China was prompted by his telephone call with Xi on Thursday. The offshore yuan jumped 0.83 percent to 6.8601.

President Trump has imposed tariffs on $250 billion worth of Chinese goods so far this year. "And let's see what happens", Trump said at a White House event. "They all want to do it".

Tennessee Senator Lamar Alexander told the official the US and China are competitors not adversaries and suggested they can prosper together. "We have the capability and the wisdom to overcome barriers and push China-U.S. relations back to a normal track - this isn't just beneficial for both countries, but also the world".

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Trump and Xi, in several reciprocal actions, have in recent months imposed higher tariffs on tens of billions of dollars of exports moving between the two countries, increasing tensions between Washington and Beijing.

Trump administration officials have said that trade talks with China can not resume until Beijing comes up with specific actions it is willing take to meet USA demands for sweeping changes to policies on technology transfers, industrial subsidies and market access.

In Beijing, that was seen as an insult to Mr Xi, who sent a personal emissary to Washington for the negotiations, and cemented a view that Mr Trump's real goal was to thwart China's rise.

"China has been hurt over the last number of months".

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Greg Dyer , the head of the Australian players' union, said all three players had been punished enough. Smith, Warner and Bancroft are the only players named in the report.

But other signs of trade progress surfaced Friday.

Separately, the South China Morning Post - also citing unnamed sources - reported that Mr Trump had offered to host a dinner for the Chinese president after the G20 summit.

On Thursday, the U.S. accused a Chinese state-owned company of conspiring to steal trade secrets of USA chip-maker Micron Technology Inc as part of a Justice Department crackdown against China in cases of suspected economic espionage.

Just after the upbeat readouts of the Trump-Xi call, the Justice Department announced the latest in a long list of actions against what Trump administration calls China's cheating through intellectual property theft, unfair corporate subsidies and rules hampering United States corporations in China.

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