Derek Scissors and Daniel Blumenthal, analysts at the conservative American Enterprise Institute, recently offered this proposal outlining what a rules-based us trade policy focused on intellectual property protection rather than an outcomes-based policy focused on the bilateral U.S-China trade balance might look like.
The offer demonstrates how much control China's government exercises over its economy.
China's Vice Premier and lead negotiator Liu He is due to visit Washington for the next round of talks with Mr. Lighthizer and US Treasury Secretary Steven Mnuchin at the end of this month.
By raising annual goods imports from the U.S.by a combined value of more than $1 trillion, China would seek to reduce its trade surplus, which past year stood at $323 billion, to zero by 2024, one of the people told Bloomberg.
The Dow Jones Industrial Average rose 242.89 points, or 1%, to 24 612.99, the S&P 500 gained 30.77 points, or 1.17%, to 2 666.73 and the Nasdaq Composite added 84.89 points, or 1.2%, to 7 169.35.
Investors celebrated the potential positive progress in U.S.
Trade-exposed indexes and stocks gained the most, with autos rising almost 2 percent and Germany's exporter-heavy DAX up 1.5 percent.
Imports increased 15.8 percent past year, resulting in a trade surplus of $351.76 billion, the country's lowest since 2013.
Trade-exposed indexes and stocks gained the most, with autos rising 1.3 per cent and Germany's exporter-heavy DAX up 0.7 per cent. In 2018, China's trade surplus with the U.S.
The Trump Administration has imposed import tariffs on Chinese goods to put pressure on Beijing to meet a long list of demands that will rewrite the terms of trade between the 2 countries.
Stocks also rose following comments from New York Federal Reserve President John Williams.
President Donald Trump previous year imposed tariffs on Chinese industrial and consumer goods as leverage in talks aimed at shrinking the U.S. trade deficit and forcing China to abandon discriminatory trading practices. That deficit grew to a record $323.3 billion in 2018, and eliminating it could mean hundreds of billions of dollars in increased sales for USA companies. Although this report was quashed by the US Treasury as being merely an untrue rumour, it helped the US dollar boost itself, along with the American stock market indices.
Shares of Netflix Inc NFLX.O , however, fell 4.0 percent after the video-streaming company forecast lower-than-expected revenue for the first quarter.
USA crude oil futures extended Thursday's gains, adding 0.8 per cent to $52.49 per barrel. Brent crude was up 1.3 percent at $61.99 per barrel and on track to gain roughly 2 percent on the week.
A suspected vehicle bomb has exploded in Derry
A photo, tweeted by the Police Service of Northern Ireland (PSNI), showed what appears to be a vehicle on fire in the city centre. Police later said they had checked the vehicle and were " just dealing with extensive crime scene ". "Bishop Street closed.
Serena Williams continues to make it look easy
It merely reflects how infrequently Williams has played over the past two years while she was pregnant and then gave birth. She said "you are young, you are very good and you will be a good player in the future". "It's good to see that attitude".