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Chinese Premier Meets with Tesla's Musk as Trade Talks End

Chinese Premier Meets with Tesla's Musk as Trade Talks End
Beijing: The head of China’s State Council Premier Li Keqiang has met with the CEO of electric car brand Tesla Inc., Elon Musk.

Tesla broke ground in Shanghai this week as Musk and other businessmen met with Li in Beijing on Wednesday, as part of a three-day talk with a US delegation.

Tesla’s China factory – first factory outside of the US, will begin production of Model 3 late this year. Li hopes Tesla can add to the “stability of Chinese-U.S. relations."

A Chinese government spokesman says the talks with U.S. envoys aimed at ending a costly tariff battle. The two governments have raised tariffs on billions of dollars of each other’s goods in the dispute over Beijing's technology ambitions.

Asian stock markets rose on the news that the talks, originally planned for two days, were extended into a third. The two governments, however, have announced no details yet.

This is the first time that the two sides are meeting face-to-face since Trump and his Chinese counterpart, Xi Jinping, agreed Dec. 1 to suspend further punitive action against each other's imports for 90 days.