ROBERT LIGHTHIZER

President Joe Biden will soon be signing into law a major bill to revive the U.S. computer chip sector.

Former Vice President Mike Pence has launched a new advocacy group as he and other Trump administration officials look to boost their post-White House plans.

Senator Ron Wyden, a Democrat from Oregon and ranking member of the Senate Finance Committee, speaks during a hearing with Robert Lighthizer, U.S. trade representative, not pictured, in Washington, D.C., U.S., on Tuesday, March 12, 2019. Democrats running the powerful Senate Finance Committee are preparing to take on the uber-wealthy, dark money groups and special interest organizations now that their party has taken control of Congress. The chairman of the committee, Sen. Ron Wyden, D-Ore., detailed his priorities to CNBC on Thursday, the day after he officially took over leadership of the panel. Of particular interest, Wyden said, is how billionaires made so much money during the pandemic, when much of the economy, including millions of working families, struggled. Regarding Big Tech, Wyden continues to be an advocate for the 1996 Communication Decency Act's Section 230, which he co-authored.

Senator Ron Wyden, a Democrat from Oregon and ranking member of the Senate Finance Committee, speaks during a hearing with Robert Lighthizer, U.S. trade representative, not pictured, in Washington, D.C., U.S., on Tuesday, March 12, 2019. Democrats running the powerful Senate Finance Committee are preparing to take on the uber-wealthy, dark money groups and special interest organizations now that their party has taken control of Congress. The chairman of the committee, Sen. Ron Wyden, D-Ore., detailed his priorities to CNBC on Thursday, the day after he officially took over leadership of the panel. Of particular interest, Wyden said, is how billionaires made so much money during the pandemic, when much of the economy, including millions of working families, struggled. Regarding Big Tech, Wyden continues to be an advocate for the 1996 Communications Decency Act's Section 230, which he co-authored.

Katherine Tai speaks during a House Ways and Means Committee meeting to consider the US-Mexico-Canada (USMCA) trade agreement in 2019. CSPANPresident-elect Joe Biden on Thursday named Katherine Tai, a trade lawyer with a history of taking on China, as his incoming administration's pick for the United States' top trade representative. In choosing Tai, the senior trade lawyer on the House Ways and Means Committee, the Biden team likely signals an intent to return to a more multilateral trade approach to advance U.S. trade interests and confront growing economic competition from China. "They both also have a long history of dealing with China's unfair practices, the most pressing trade issue of our time," according to former top White House trade negotiator Clete Willems. From 2007 to 2014, Tai successfully litigated Washington's disputes against Beijing at the WTO, the global trade organization based in Geneva, Switzerland.

Officials from President Donald Trump's outgoing administration have again sought to portray China as a threat that needs to be dealt with — just weeks before President-elect Joe Biden takes over the White House. Speaking at the Milken Institute Asia Summit on Thursday, U.S. Trade Representative Robert Lighthizer said one of Trump's achievements over the last four years was that he showed there's "a major issue" with China. His comments followed that of Commerce Secretary Wilbur Ross, who said Tuesday at the same summit, that China remains the "principal military and economic threat" in Asia. Lighthizer, known to be a China skeptic, said Chinese industrial policies have hurt the U.S. and other economies. He reiterated common complaints about China's practices, such as subsidizing state-owned companies and forced transfer of technology from foreign firms to their Chinese partners.

A Biden transition team official said Wednesday that the president-elect will name nominees for key economic positions on Dec. 2. Biden chose Yellen, who in 2014 made history as the first woman to lead the Fed, as his Treasury secretary, people familiar with the transition team confirmed Monday. If confirmed, Yellen would also be the nation's first woman to serve as Treasury secretary. Advisory councilsAside from picking a trade representative, Biden and his transition team will need to staff two advisory bodies: the National Economic Council and the Council of Economic Advisers. It's considered the "war room" for economic policy and seeks to sync priorities across the government.

Tesla is suing the U.S. government and U.S. Trade Representative Robert Lighthizer over the Trump administration's tariffs on items Tesla imports from China. The electric-car maker wants the court to declare two batches of Trump administration tariffs to be void, and refund Tesla the tariffs it paid with interest, according to the lawsuit filed in the U.S. Court of International Trade. The specific tariffs at issue are known as List 3 and List 4. Both lists contain hundreds of very specific items, ranging from raw materials to electronic components. The lawsuit did not describe which items Tesla paid tariffs on, nor how much it paid.

U.S. President Donald Trump at the White House in Washington, D.C., U.S., on May 7, 2020. U.S. President Donald Trump said on Friday he was "very torn" about whether to end the so-called Phase 1 U.S.-China trade deal, just hours after top trade officials from both countries pledged to press ahead with implementing it despite coronavirus economic wreckage. In an overnight phone call, U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He set aside rapidly deteriorating U.S.-China relations and discussed progress since the deal took effect in mid-February. The deal brought a partial truce to an 18-month trade war between the world's two largest economies that heaped U.S. tariffs on some $370 billion worth of Chinese imports. China has rejected the Trump administration's assertions that there was evidence the new coronavirus came from a Wuhan laboratory and scientists have said it appears to have developed in nature.

The jobs collapse was telegraphed week after week in the unprecedented first-time filings for unemployment benefits due to the coronavirus economic halt. Gretchen Whitmer said the state will allow manufacturing plants, including those that make cars and trucks, to begin reopening Monday. General Motors and Fiat Chrysler plan to begin reopening their Michigan assembly plants a week from Monday. Shanghai Disneyland, Disney Springs to resumeVisitors wearing masks walk past Shanghai Disney Resort, that will be closed following the outbreak of a new coronavirus, in China. The rest of the Walt Disney World Resort will remain closed, including theme parks and resort hotels.

"I don't think the rebound will be quite as strong as the stock market seems to indicate it could be," Cashin said on "Squawk Alley." The VIX, which tracks the 30-day implied volatility of the S&P 500, is a popular measure of fear in the stock market. Bloom9:31 am: Stocks begin with gains after historic jobs report, Dow up 300 pointsU.S. equities started the day in the green, as investors shrugged off the jobs report and focused on the economy reopenings. Li8:35 am: Historic jobs report shows 20.5 million jobs lost in AprilThe Labor Department said on Friday 20.5 million jobs were lost in April, bringing the unemployment rate to 14.7%. The report is scheduled for release at 8:30 a.m. Imbert, Domm7:25 am: Stock futures rally ahead of April jobs report

Top officials from the U.S. and China held a phone call late Thursday Eastern time to discuss trade matters including the "phase one" deal that was signed in January. U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer also spoke to Chinese Vice Premier Liu He about the economic and public health issues, according to the government from both sides. The call came as investors globally raised concerns over increasing tensions between the U.S. and China two of the largest economies in the world. The coronavirus pandemic also raised questions about whether China could fulfill its obligations in the phase one deal, which include purchasing an additional $200 billion of U.S. goods over two years. A statement by China's Ministry of Commerce also said both countries are working toward implementing what's outlined in the trade deal.

President Donald Trump on Sunday held a call with two dozen executives from consumer and grocery companies including Target, Campbell and Costco to discuss topics including hoarding and the safety of their supply chain amid the coronavirus crisis. Chains like Texas grocer H-E-B has had to limit purchases some food items, including eggs, boxed pasta and canned soup. The U.S. supply chain for consumer companies is heavily reliant on foreign production. They want them to considering lifting tariffs that may be adding an extra burden to the supply chain. Consumer Brands Association, though, wants the administration to act before problems or shortages arise, a person familiar with the group's thinking said.

India's Prime Minister Narendra Modi (L) attends a meeting with US President Donald Trump during the G20 Osaka Summit in Osaka on June 28, 2019. President Donald Trump is hoping to sign another trade deal before the 2020 election. It could be with India, if he and Prime Minister Narendra Modi can come to terms during Trump's official trip to the country in less than two weeks. Experts say the constructs of the trade agreement and whether it can even be called a trade deal will be determined by the outcome of U.S. Trade Representative Robert Lighthizer's trip to India this week. The New York Times reported on Monday that India was preparing to buy U.S. military helicopters from Lockheed Martin for $2.6 billion ahead of Trump's visit.

President Donald Trump is scheduled to make a speech at the World Economic Forum in Davos, Switzerland, on Tuesday morning. The five-day gathering in Davos is used by business leaders and politicians to meet and discuss some of the most pressing issues worldwide. Investors will be watching for Trump's comments on trade with Europe and any update on the progress of the second phase of the trade agreement with China. On Monday, French President Emmanuel Macron and Trump discussed a French digital tax. The two agreed to hold of on a potential trade war until the end of the year, a source told Reuters.

Banks are first up with J.P. Morgan Chase, Citigroup and Wells Fargo releasing earnings Tuesday, and Bank of America and Goldman Sachs reporting on Wednesday. "I think earnings are going to be a good component," said Michael Arone, chief investment strategist, U.S. SPDR Business at State Street Global Advisors. The China trade deal is expected to be signed on Wednesday, and while it may be a nonevent, it has the potential for surprises. Peter Boockvar, chief investment strategist at Bleakley Advisory Group said he thinks the market has moved past the trade news. President Donald Trump has also lowered expectations by noting that the next phase of the deal would not come until after the election.

Trump remains defiant as he faces a Senate trialPresident Donald Trump reacts while speaking during a campaign rally in Battle Creek, Michigan, December 18, 2019. Trump, only the third president ever to be charged with high crimes and misdemeanors, now faces a trial in the GOP-led Senate. The president, remaining defiant, held a reeleciton rally in Michigan as the House was voting to impeach him. U.S. Trade Representative Robert Lighthizer last week acknowledged there remained hard work ahead in the next phases of negotiations. Tesla shares close at a record highElon Musk attends the groundbreaking ceremony of the Tesla Gigafactory in Shanghai, east China, on January 7, 2019.

A second term would see the administration go after the globe's multilateral trade institutions, multiple Wall Street policy analysts said. One of the administration's key diplomatic wins came last week, when the White House reached an agreement with House Democrats to move forward with its replacement of the NAFTA. "It was always my plan, and I was criticized for this, as you know, it was always my plan that this should be a Trump trade policy," he added. "And a Trump trade policy is going to get a lot of Democratic support." "For Powell, if Trump is reelected it's pretty clear it's extremely unlikely that he is renominated to a second term," Mills said.

Mainland Chinese stocks jumped at the close on Monday afternoon, as data showed that the country's industrial output and retail sales rose more than expected in November. The country's industrial production rose 6.2% year-on-year in November, according to China's National Bureau of Statistics, above a Reuters forecast of a 5.0% growth. Meanwhile, Asian markets had a mixed reaction to news that China and the U.S. announced they were finally set to sign off on a phase one trade agreement. U.S. and Chinese officials announced on Friday that the countries had reached a phase one agreement after a contentious 18-month trade war. Apple suppliers in AsiaApple led Friday's slight gains, rising 1.4% to a record after news of the trade agreement was announced.

The Trump administration on Monday downplayed a Mexican concern about a key piece of the North American trade deal the House aims to approve this week. U.S. Trade Representative Robert Lighthizer said language in the United States-Mexico-Canada Agreement, which the three countries signed last week, does not call for American "labor inspectors" in Mexico. "These personnel will not be 'labor inspectors' and will abide by all relevant Mexican laws," the agency continued. The White House aims to ease concerns during a pivotal period for the trade agreement one of President Donald Trump's top economic and political priorities. The administration won support for USMCA from skeptical House Democratic leaders after including tougher labor enforcement tools in the deal, among other provisions.

J.B. Forbes | St. Louis Post-Dispatch | TNS | Getty ImagesAfter the U.S. and China announced the "phase-one" trade agreement, a critical point remains in question: agricultural purchases. President Donald Trump said the Chinese would buy $50 billion in agricultural purchases "pretty soon." Trade between the U.S. and China has fallen as both sides applied tariffs on billions of dollars' worth of goods from the other. In an encouraging first step, the U.S. held off raising tariffs on Chinese goods on Sunday, and Beijing did not go ahead with planned retaliatory tariffs. Chinese stocks traded mildly lower Monday, following a muted U.S. stock market response to news of the trade agreement on Friday.

Dow to rise on US-China trade deal but sinking Boeing shares limit gainsTraders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the closing bell, June 18, 2019 in New York City. U.S. markets surged on Tuesday after President Donald Trump announced that he plans to meet with Chinese President Xi Jinping to discuss a trade deal at next week's G-20 summit in Japan. Drew Angerer | Getty Images News | Getty ImagesU.S. stock futures were pointing to a 65-point advance for the Dow Jones Industrial Average at Wall Street's open on Monday. The Dow was getting a boost from Friday's announcement of a "phase-one" trade deal between the U.S. and China. Andrew Harrer | Bloomberg | Getty ImagesU.S. Trade Representative Robert Lighthizer said Sunday the first-step U.S.-China trade agreement is "totally done."

U.S. Trade Representative Robert Lighthizer gestures as he speaks during a meeting at the Presidential Palace, in Mexico City, Mexico December 10, 2019. U.S. Trade Representative Robert Lighthizer acknowledged on Sunday the White House had to make concessions in order to sign its USMCA trade agreement. "We had an election and the Democrats won the House," he said, when CBS' Margaret Brennan asked about wins the Democrats were claiming in their negotiation of the bill. And a Trump trade policy is going to get a lot of Democratic support." The White House last week reached an agreement with House Democrats to move forward with its replacement of the North American Free Trade Agreement.

Liu He, China's vice premier, right stands with Robert Lighthizer, U.S. trade representative, while arriving for a meeting at the Office of the U.S. Trade Representative in Washington, D.C., U.S., on Thursday, Oct. 10, 2019. U.S. Trade Representative Robert Lighthizer said on Sunday that the phase one U.S.-China trade deal reached on Friday is "totally done," and it will nearly double U.S. exports to China over the next two years. U.S. and Chinese officials announced on Friday that the U.S. and China had finally agreed to the phase one agreement after a contentious 18-month trade war. Keep in mind, by the second year, we will just about double exports of goods to China, if this agreement is in place. If the reformers are making the decisions, which is what we hope, then we're going to get another outcome."

Amid a slew of headlines and tweets, a long-awaited phase one trade deal between the U.S. and China has finally been agreed upon. As part of the limited deal, the U.S. said it will maintain 25% tariffs on approximately $250 billion of Chinese imports while reducing tariffs on $120 billion in products to 7.5%. The rollback in duties is "smaller than expected," according to Goldman's chief economist Jan Hatzius. U.S. Trade Representative Robert Lighthizer said the two sides hope to sign the deal in the first week of January in Washington. He also cautioned the Trump administration has not promised a future rollback of tariffs, adding it would be wise to be skeptical on whether China would deliver on certain agreements.

U.S. President Donald Trump and China's President Xi Jinping at the G20 leaders summit in Japan on June 29, 2019. The United States and China hope to sign a phase one trade deal in the first week of January, nearly two years after President Donald Trump launched his trade war, his top trade advisor said Friday. Lighthizer said the signing would be in Washington at the ministerial level and would not involve Trump and Chinese President Xi Jinping. The Trump administration has not promised a future rollback of tariffs, Lighthizer said, adding it would be wise to be skeptical on whether China would deliver on certain agreements. Earlier Friday, Trump and Chinese officials announced that the U.S. and China had agreed to the phase one agreement.

Henry Romero | ReutersThe U.S. is weighing tariffs of up to 100% on European products the Trump administration previously absolved from such duties, targeting some of the euro zone's most emblematic products, including Irish and Scotch whiskies and Cognac. The USTR earlier this year published multiple lists of European goods worth more than $10 billion that it had hoped to target in response to its beef with Airbus. In October, Washington moved ahead and imposed tariffs of 10% on large civil aircraft and 25% on agricultural goods from Europe. Among the myriad new products under consideration include European spirits such as whiskey and Cognac. But the complaint also represents a chapter in the White House's broader campaign to reduce trade deficits.

China and the U.S. announced Friday they have reached a phase one trade deal including some tariff relief, increased agricultural purchases and structural change to intellectual property and technology issues. Major U.S. stock indexes initially jumped following news of the deal but later gave up those gains. The U.S. plans to scrap tariffs on Chinese goods in phases, a priority for Beijing, Vice Commerce Minister Wang Shouwen said. Trump later said his administration would cancel its next round of tariffs on Chinese goods set to take effect Sunday. China will also consider canceling retaliatory tariffs set for Sunday, according to Vice Finance Minister Liao Min.

China's President Xi Jinping and US President Donald Trump during a meeting outside the Great Hall of the People in Beijing. The senior trade advisors are expected to present divergent views during the high-stakes meeting, but the final decision will be up to Trump, the sources said. Many had expected the two sides to reach a deal ahead of the Dec. 15 tariffs, but that prospect now appeared unlikely, according to multiple U.S. and Chinese sources. "The message is that it will not be painful," said the one source familiar with the administration's thinking. Trump's advisors are divided about whether to proceed with the Dec. 15 tariffs and what impact such a move would have on U.S. financial markets, one source familiar with White House trade deal negotiating procedures said.

U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer arrive for a group photo session after a meeting with Chinese Vice Premier Liu He in Beijing on May 1, 2019. The U.S. and China are taking steps to delay the next round of American tariffs set for Sunday as they seek a deal to rein in a raging trade war, The Wall Street Journal reported Tuesday. Negotiators from the world's two largest economies "are laying the groundwork" for the Trump administration to hold off on 15% tariffs on about $160 billion in Chinese goods, according to the newspaper. The Office of the U.S. Trade Representative did not immediately respond to a request to comment, while a White House spokesman declined to comment. Earlier this month, President Donald Trump suggested he could wait until after the 2020 election to strike a trade agreement with China.

Paris French Economy Minister Bruno Le Maire on Tuesday promised a "strong" EU response to threatened U.S. tariffs on French goods, as another front split open in the U.S. trade war. On Monday, the United States threatened to impose tariffs of up to 100 percent on $2.4 billion in French goods in retaliation for a digital services tax that Washington says is discriminatory. "This is not the sort of behavior one expects from the United States with respect to one of its main allies, France, and to Europe in general," Le Maire said. The tariff announcement is likely to increase tension between the United States and Europe. What the French tax doesThe French tax, enacted earlier this year, imposes a three percent levy on the revenues earned by technology firms in France, which often come from online advertising and other digital services.

Stocks slipped on Thursday as investors digested the latest reports surrounding the U.S.-China trade war. Thursday marked the third straight day of losses for the Dow, its longest losing streak since August. "The U.S. and China don't know what they want to do on a trade deal," said Randy Frederick, vice president of trading and derivatives at Charles Schwab. They're close to a deal. Then they're not close to a deal."

China's top trade official has invited U.S. negotiators to take part in a fresh round of face-to-face talks, The Wall Street Journal reported Thursday, citing people familiar with the matter. During a phone call thought to have been made late last week, Chinese Vice Premier Liu He reportedly invited U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to Beijing to sit down for further negotiations. The Office of the U.S. Trade Representative was not immediately available for comment when contacted by CNBC on Thursday morning. The report comes shortly after U.S. legislation on Hong Kong had threatened to derail trade discussions between the world's two largest economies. On Wednesday, the U.S. House of Representatives passed two bills intended to support protesters in Hong Kong.

Nancy Pelosi (right), speaker of the United States of House of Representatives with Richard Neal (left,) Chair to the House Ways and Means Committee. House Democrats and the Trump administration did not come to an agreement on moving forward with President Donald Trump's new North American trade deal during a meeting Thursday. We can reach an agreement on USMCA when the Trade Representative makes the agreement enforceable for American workers," the spokesman said. Neal told reporters it is "possible" the House could vote on USMCA, Trump's replacement for NAFTA, by the end of the year. Before the Democrats huddled with Lighthizer, Pelosi told reporters that "I'm not even sure if we came to an agreement today that it would be enough time to finish" before 2020.

The ministry spokesperson said that both sides were closer to a so-called phase one trade agreement after constructive negotiations over the past two weeks. Gao Feng, a spokesperson for China's Commerce Ministry, said that both sides had agreed to simultaneously cancel some existing tariffs on one another's goods, according to the country's state broadcaster. China's Commerce Ministry said Thursday that Beijing had agreed with Washington to lift existing trade tariffs between the two nations in phases. BEIJING, CHINA - JULY 05: Spokesman of China's Ministry of Commerce Gao Feng makes speech during a regular briefing on July 5, 2018 in Beijing, China. One important condition for a limited trade agreement, Feng insisted, was that the U.S. and China must remove the same amount of charges at the same time.

China said Friday that it has reached a consensus with the U.S. in principle after a phone call among high-level trade negotiators this week. It said the two sides conducted "serious and constructive" discussions on "core" trade points and talked about arrangements for the next round of talks. Last month, the U.S. and China reached a truce and started working to finalize a "phase one" trade agreement that includes a pause in tariff escalation and China buying U.S. agriculture products. Trump also said the phase one trade deal represents 60% of a long-term agreement. However, a report Thursday showed China is doubtful about reaching a comprehensive trade deal with the U.S. due to Trump's "impulsive nature."

U.S. Trade Representative Robert Lighthizer (C) gestures as he chats with Chinese Vice Premier Liu He (R) as U.S. Treasury Secretary Steven Mnuchin (L) looks on after posing for a "family photo" at the Xijiao Conference Centre in Shanghai on July 31, 2019. The U.S. will consider extending certain tariff exclusions on $34 billion of imports from China as the two nations work toward a trade agreement, the Office of the U.S. Trade Representative said Monday. Nearly 1,000 products were exempted from the July 2018 tariff, and those exclusions are set to expire on Dec. 28. In September, China said it plans to exclude American farm goods, including soybeans, from tariffs amid the trade talks. The USTR said last week that China and the U.S. are close to finalizing a phase one deal.

The U.S. and China need a more comprehensive trade agreement before market sentiment can be boosted sustainably, analysts said on Monday. On Friday, the Office of the U.S. Trade Representative said the two economic giants have made progress in trade discussions. The world's two largest economies have pushed for a trade agreement as they try to end a potentially devastating series of tariffs on hundreds of billions of dollars worth of each other's goods. The trade dispute has already hit global growth. The analysts were not hopeful that the two sides can reach consensus on more issues by the end of the year.

As negotiators work to flesh out the "Phase One" trade deal President Donald Trump and China's President Xi Jinping are expected to sign next month, trade hawk Peter Navarro has been fighting the deal behind the scenes, according to three people close to the talks. Navarro has urged Trump to force China to recommit to previous promises on IP protection or walk away from a deal. "He's been agitating to drive a harder line" since the partial deal was announced, said one former administration official. Just days before Trump announced the Phase One deal, Navarro suggested on NPR's "Morning Edition" that such a partial deal was not a possibility. Asked for comment about his opposition to the Phase One deal, Navarro provided the below comment by e-mail to CNBC:"This is just more hearsay fake news from anonymous fake sources intent on disrupting the negotiations.

"They made headway on specific issues and the two sides are close to finalizing some sections of the agreement," USTR said. The agency issued a statement outlining the status of discussions following a conversation that U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin had with Chinese Vice Premier Liu He. The U.S. and China have made progress in trade discussions and have come close to finalizing parts of a phase one deal, the Office of the U.S. Trade Representative said Friday. Liu He, China's vice premier, left, and Robert Lighthizer, U.S. trade representative, wave to members of the media before a meeting at the Office of the U.S. Trade Representative in Washington, D.C., U.S., on Friday, Oct. 11, 2019. The world's two largest economies have pushed for a trade agreement as they try to end a potentially devastating series of tariffs on hundreds of billions of dollars worth of each other's goods.

"China's position, principle and goal for the China-U.S. trade negotiations has never changed," Gao said in Mandarin at a weekly press conference, according to a CNBC translation. "Both sides' ultimate goal for the negotiations is to end the trade war, cancel all additional tariffs," he said. "This is good for China, good for the U.S. and good for the world." U.S. President Donald Trump said China agreed to a "very substantial phase one deal" that will be written over the next three weeks. "We hope both sides can continue to work together to advance the negotiations and, as soon as possible, reach a phased agreement and make new progress on canceling tariffs," Gao said.

Chinese state media warned the U.S. over the weekend to "avoid backpedaling" on the partial trade agreement, and expressed caution about the initial phase of the deal which President Donald Trump called "very substantial." On Friday, the Trump administration announced it was suspending a tariff increase to 30% from 25% on at least $250 billion in Chinese goods which were set to take effect on Tuesday. However, a tariff hike implemented in September was not rolled back and plans for another hike just before the the Christmas holiday on Dec. 15 remain in place. As based on its past practice, there is always the possibility that Washington may decide to cancel the deal if it thinks that doing so will better serve its interests. "As based on its past practice, there is always the possibility that Washington may decide to cancel the deal if it thinks that doing so will better serve its interests," China Daily said.

With many investors worried about further economic damages from the U.S.-China trade war, even a "pause" in that bilateral fight would be a "big relief" to markets, according to an economist. "Even if we just get a pause, I think that will be very good. I think it will be a big relief for markets, so I think we will get a risk rally," Robin Brooks, managing director and chief economist at the Institute of International Finance, told CNBC's "Squawk Box Asia" on Friday. Stocks in the U.S. were taken on wild ride Thursday following several conflicting headlines related to U.S.-China trade talks this week. Officials from both countries met in Washington on Thursday to discuss trade, which U.S. President Donald Trump said were "going really well."

The major indexes rallied to end the week as the Trump administration struck what it called a "substantial" trade deal with China. President Donald Trump said China and the U.S. agreed to the first phase of a broader trade deal. Stocks hit their session highs on that comment, with the Dow briefly rallying more than 500 points. As part of this first phase, China will buy between $40 billion and $50 billion worth of U.S. agricultural products. In exchange, the U.S. agreed to hold off on tariff hikes that were set to take effect Tuesday.

Eduardo Munoz Alvarez | Getty ImagesU.S. stock futures were lower Thursday morning ahead of the resumption of high-level U.S.-China trade talks. The Dow Jones Industrial Average broke a two-session losing streak on Wednesday, rising more than 180 points. However, the Dow was still on track for a fourth straight losing week with two trading days to go. However, expectations for a deal were low after the South China Morning Post said that no progress was made in deputy-level trade talks this week. Apple removed an app from its App Store that protesters in Hong Kong were using to track police movements.

U.S. stock futures pushed higher Wednesday morning after a report suggested that Beijing is willing to discuss a partial trade deal with Washington. Bloomberg reported, citing an official with direct knowledge of the negotiations, that China is willing to talk about a possible agreement as long as no more tariffs are imposed by the President Donald Trump administration including planned levies due this month and in December. The report added that Beijing would offer non-core concessions like purchases of agricultural products in return, but not budge on major sticking points between the two nations. The unnamed official said negotiators were not optimistic about securing a broad agreement that would fully end the trade conflict between the world's two largest economies. Both sides are set for high-level trade negotiations in Washington on Thursday.

A trader works on the floor of the New York Stock Exchange October 18, 2006 in New York City as the Dow Jones Industrial Average passed the 12,000 mark today for the first time in its 110-year history. The Trump administration on Tuesday put visa restrictions on Chinese officials "who are believed to be responsible for, or complicit in, the detention and abuse" of Muslim minority groups. The condemnation in China over Daryl Morey's now-deleted Friday tweet was swift, as Chinese partners with the NBA cut or suspended ties with the league. The NBA should not be an "arm of Chinese censorship" by being too apologetic, said Cruz. NBA commissioner Adam Silver arrives in Shanghai on Wednesday, after saying Tuesday that he supports Morey's right to free speech while expressing regret that Chinese partners were offended.

President Donald Trump listens to a question from the news media as he sits behind the Resolute Desk in the Oval Office of the White House in Washington, July 26, 2019. President Donald Trump overruled the adamant objections of nearly his entire trade team when he ordered the imposition of 10% tariffs on China 's remaining $300 billion of imports, according to The Wall Street Journal , citing people familiar with the matter. Trump and Chinese President Xi Jinping had agreed to a truce in the trade war on the sidelines of the June G-20 summit in Japan. Trump wanted to give farmers, who have been hit hard by the trade war, guarantees that China was boosting its U.S. purchases as he prepared for a rally in Ohio. A nearly two-hour debate ensued, but the president stood by his argument and eventually his advisors helped him draft a Twitter post on the new tariffs, the Journal reported.

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Kiyoshi Ota/Getty ImagesTOKYO - Asian stocks traded modestly higher Tuesday. South Korea's Kospi rose 0.2%. Here are some of the other big moves on Asian markets at 10:30 a.m. Hong Kong time. Hong Kong is set to announce its second-quarter GDP figures later this week. On Monday, Hong Kong stocks closed 1% lower.

Spencer Platt/Getty Images(CNN) - South Korean shares fell in early trade on Thursday after North Korea launched two unidentified projectiles. The Kospi index fell 0.8% after the country's military said that Pyongyang had launched two projectiles toward the East Sea, also known as the Sea of Japan. The market losses came despite a stronger-than-expected rebound in South Korea's economy in the second quarter. GDP rose by 1.1% following a surprise contraction in the first three months of the year, according to data published Thursday. South Korea missed out on modest gains across other Asian markets, which were drawing support from confirmation of new US-China trade talks and hopes of central bank stimulus.

Treasury Secretary Steven Mnuchin expressed optimism Wednesday about next week's trade talks with China as the administration pushes looks to resolve a critical geopolitical issue. Mnuchin noted the symbolism of the two sides meeting in Shanghai the Shanghai Communique of 1972 was considered an important step in normalizing relations between the U.S. and China. Mnuchin's office later released an official statement on the planned visit:"At the direction of President Donald J. Trump, United States Trade Representative Robert Lighthizer and Secretary of the Treasury Steven Mnuchin will travel to Shanghai, China, to continue negotiations aimed at improving the trade relationship between the United States and China. Vice Premier Liu He will lead the talks for China. "The discussions will cover a range of issues, including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, the trade deficit, and enforcement."