"We are happy about it", He said.
"We are encouraged that the two sides appear to have made genuine progress on a number of critical issues", Brilliant said.
Meanwhile, on the corporate front, shares in tech giants Facebook, Amazon and Alphabet all closed higher on the US-China news, as did Apple, Micron Technology, JP Morgan Chase and Bank of America stocks. The Dow Jones Industrial Average rose 319.92 points, or 1.2%, to 26,816.59, the S&P 500 index climbed 32.14 points, or 1.1%, to 2,970.27, while Nasdaq Composite Index added 106.26 points, or 1.3%, to 8,057.04.
The Chinese president said he hopes that the two sides will work together to advance China-U.S. relations based on coordination, cooperation and stability, manage differences on the basis of mutual respect, and expand cooperation for mutual benefit, so as to bring their relations forward along the right track. President Trump expressed optimism ahead of his meeting with the Chinese vice premier on Friday.
The discussions were not expected to address the most contentious issues in the talks, leaving them for a possible future negotiations. Larry Kudlow, a top White House economic aide, said this week this could include heightened regulatory scrutiny of Chinese companies operating in the United States. "All would like to see something significant happen!"
"One of the great things about the China Deal is the fact that, for various reasons, we do not have to go through the very long and politically complex Congressional Approval Process", Trump wrote. Otherwise they wouldn't sign the deal.
China and the United States achieved substantial progress in multiple areas after holding a new round of high-level economic and trade consultations on Thursday and Friday in Washington. If China sticks to the new deal, its spending on American agricultural produce will increase twofold, from the $19.5 billion it spent in 2017.
Trump, however, appeared to be more confident this time and said that it might be formally inked in Chile later this year.
"The Chinese Communist Party is not interested in a comprehensive deal".
The emerging deal, covering agriculture, currency and some aspects of intellectual property protections, would represent the biggest step by the two countries in 15 months to end a tariff tit-for-tat that has whipsawed financial markets and slowed global growth.
The US and China have imposed tariffs on billions of dollars worth of each other's goods over the past 15 months, casting a pall over the global economy. "That's a pretty good announcement for U.S.ag". The White House angered Beijing on Monday when it put visa restrictions on senior Chinese officials and blacklisted 28 Chinese companies from doing business in the USA, pointing to China's persecution of its ethnic Uighur Muslim population as the reason.