USA official says China trade talks 'went just fine'

President Donald Trump and Chinese President Xi Jinping meet after the G20 in Buenos Aires

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Chinese and USA teams ended trade talks in Beijing on Wednesday that lasted longer than expected and officials said details will be released soon, raising hopes an all-out trade war that could badly disrupt the global economy can be avoided.

America is seeking assurances that China will buy more products from the U.S.in order to reduce the trade deficit, and it wants a fairer playing field for USA companies that do business inside China, NPR has reported.

US and Chinese envoys extended trade talks into a third day Wednesday after President Donald Trump said negotiations aimed at ending a tariff war were "going very well!".

In return, Trump promised to wait 90 days before hiking tariffs to 25 percent on $200 billion worth of Chinese imports - the three-month timeline is indented to give both breathing room to cement a detailed agreement.

The talks were extended into an unscheduled third day, showing both sides were "serious", China's foreign ministry said.

Some observers argue the president is using the threat of tariffs to force China into negotiations, and that a deal can be done. "Instead of making honest efforts to solve its domestic problems, it resorts to unilateralism and protectionism, breaks the rules-based worldwide order, coercing allies to accept unfair treaties, triggering trade frictions with China, and blocking technology transfer while trying to contain China's rise".

"As for whether the Chinese economy is good or not, I have already explained this".

An official Chinese newspaper warned Washington not to demand too much from Beijing as talks on ending their tariff war entered a second day Tuesday with no word on possible progress.

US SHUTDOWN: President Donald Trump's televised address Tuesday night helped soothe frazzled nerves over what steps he might take in the standoff with lawmakers over border wall funding, which has resulted in a partial government shutdown.

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In much of Canada, land rights are determined by treaties signed between the colonial government and indigenous tribes. In Vancouver , hundreds of people have said they will be attending a demonstration in the city , planned for Tuesday.

Few details emerged of the trade talks, which were scheduled to run through Tuesday.

"The minimum baseline for judging whether this week is a success is whether they can have an in-depth conversation on those areas", Kennedy said, adding that an announcement of another round of talks would be a positive outcome.

Chinese officials have suggested Beijing might alter its industrial plans but they reject pressure to abandon a strategy seen by communist leaders as a path to prosperity and greater global influence. "We have firm confidence in the strong long-term fundamentals of the Chinese economy".

The US team is led by deputy US trade representative Jeffrey Gerrish, and includes under secretaries from the US Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from the White House.

The U.S. did not send its top trade negotiators that have participated in previous U.S.

"It certainly has hurt the Chinese economy", Ross told CNBC, noting that China exports many more goods to the United States than the other way around.

China heralded an agreement in the last week of December between China and the U.S.to hold another round of in-person meetings in January, the meetings that are now occurring this week.

Should China reform its regulation policies to allow more US access to its markets, USA negotiators want guarantees that they won't erase newfound openness by using government authority to block American companies.

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