Xi strikes conciliatory tone on trade but offers few concessions

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"The Chinese, about a year and a half ago, started to impose capital controls, which stopped people from doing a lot of [US] acquisitions", said Stephen Orlins, president of the National Committee on US-China Relations.

He said "Cold War mentality" and arrogance had become obsolete and would be repudiated.

Trump tweeted on Tuesday that he is "very thankful for President Xi of China's kind words on tariffs and automobile barriers".

Duterte attended the Boao Forum for Asia Annual Conference in Hainan province in China on April 9 and 10.

A joint report by the Rhodium Group and the National Committee on US-China Relations showed that Chinese investment in the US fell from $46.5 billion in 2016 to $29.7 billion past year.

Tesla's Chief Executive Elon Musk has railed against an unequal playing field in China and wants to retain full ownership over a manufacturing facility the company is in talks to build there. "Avoiding a trade war will benefit all countries", Musk tweeted after Xi's speech. "Xi's bland and generic commitments on IP protection fell short of what would have been a true gamechanger".

Whenever Trump or his officials talk tough on China, the USA stock market falls. The Eurasia Group agreed the speech was "not a game-changer" and said it "underdelivers after all the hype from Beijing".

Analysts have cautioned that any Chinese concessions on autos, while welcome, would be a relatively easy win for China to offer the United States, as plans for opening that sector had been under way well before Trump took office.

Hurricane names Harvey, Irma, Maria and Nate retired
Irma - a Category 5 storm, the strongest designation, wrecked havoc on Caribbean islands; Barbuda was nearly completely destroyed. To replace the four names, Harold, Idalia, Margot and Nigel will be included in the 2023 list of storm names.

Xi's top economic adviser, Vice Premier Liu He, told a group of officials last Thursday that Beijing had rejected a USA request to stop subsidizing Made in China 2025 industries and wouldn't initiate further talks, the person said. The Trump administration has chose to expand sanctions on China for allegedly infringing intellectual property rights.

FED MINUTES: At their most recent meeting in March, Federal Reserve policymakers said they felt the US central bank might have to raise interest rates faster than expected to keep up with quickening economic growth and rising inflation that's coming close to their 2 percent target, according to the latest minutes.

The vehicle tariffs were the target of a Trump tweet Monday, saying China charges much higher levies than the United States, "Does that sound like free or fair trade".

Chinese officials deny such charges, and responded within hours of Trump's announcement of tariffs with their own proposed commensurate duties.

Even as China's trade surplus narrowed overall in the first three months of the year, its surplus with the US surged 19.4 percent to $58.25 billion from a year earlier, customs data showed on Friday.

But the sudden spike in trade tensions with the United States is clouding the outlook for both China's "old economy" heavy industries and "new economy" tech firms alike.

Policy shifts between the world's two largest economies, the United States and China, have strongly disrupted their ties, with the value of deals announced in 2017 down by more than 90 percent from the year before.

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