It’s good to talk, but US-China tensions are far from over

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After the conversation, Trump told reporters the United States will make with China what he described as a "very fair deal for everybody".

"We've talked about trade. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina", the president added, going on to mention that they had "had good discussion on North Korea!"

Stock markets charged ahead Friday after President Donald Trump and his Chinese counterpart, Xi Jinping, spoke by phone and reported progress in resolving trade tensions.

But within hours of the upbeat assessments, the US Justice Department took aim at another Chinese firm it accused of unfair practices, part of an across-the-board pressure campaign by the Trump administration targeting Beijing. "But China very much wants to make a deal", he said.

"We do hope that China and the United States will meet each other halfway and work together in the spirit of mutual respect and equality", Li told Trump's fellow Republicans.

"At best, the parties are negotiating about negotiating and we are still miles from a deal", Boltansky said.

"Trump's so-called directive to his staff to draft an agreement is either a hollow gesture or an ostentatious move, or both", he said.

Apple value tests $1t level amid selloff
Region-wise, all five categorised markets turned in positive revenue, with Japan's 34 per cent rise leading the pack. Apple's market capitalization fell below $ 1 trillion because of disappointing sales forecast in the 4th quarter.

China also said that the telephone conversation was "positive".

Xi said both he and Trump have good visions for a healthy, stable development of the China-U.S. relations as well as expanding economic and trade cooperation, and they should make efforts to realize the wishes.

One of China's vice commerce ministers Wang Bingnan said on Saturday the country is willing to resolve trade issues with the United States through mutually respectful talks and on an equal footing, similar to past comments from Beijing.

The leaders of the world's two largest economies made the remarks after their first publicly disclosed telephone conversation in nearly six months.

"We've had very good discussions with China". This would also be seen as a major threat to the United States dollars rally, meaning that this is the potential card to help encourage a jump in other currencies around the world, especially those in emerging markets.

Trump also voiced his support for the China International Import Expo (CIIE) to be held from November 5-10 in Shanghai, which is the first of its kind in China.

"The Trump administration should not miscalculate China's tolerance for what they perceive as bullying tactics", he said. A potential breakthrough would obviously be welcome news for investors and financial markets globally, because the threat of a trade war conflict has been viewed generally as probably the largest risk to the world economy since the global financial crisis a decade ago. The United States has targeted $250 billion in Chinese products, and Beijing has lashed back by slapping tariffs on $110 million worth of US goods. I think we have a long way to go.

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