Beijing Wants To Clinch A Trade Deal: Trump

Chinese trade officials headed to Washington for talks this week intend to "make a deal," US President Donald Trump said on Wednesday, reviving hopes for success in negotiations that had appeared to hang by a thread.

"China has just informed us that they (Vice-Premier) are now coming to the US to make a deal," Trump said on Twitter, referring to top trade envoy Liu He.

"We'll see but I am very happy with over $100 Billion a year in Tariffs filling US coffers...great for US, not good for China!"

Citing sudden backtracking by the Chinese side after months of negotiations, the White House this week announced US tariffs on US$200 billion in Chinese imports would more than double on Friday -- a prospect that had long sent shivers through the global economy.

Trump's tweet suggested he was comfortable either with making a deal or with leaving the tariffs in place, however.

Following the tariffs announcement, stock markets around the world sank for two trading days. (AFP)