President Trump echoed his sentiment, chiming in on Twitter. Recent reports have claimed negotiators on both sides are making progress as mid-level talks continue in Beijing.
Word of progress briefly drove United States stocks higher in early morning trading but major indices soon pared much of those gains. Steven Winberg, assistant secretary for fossil energy, has told reporters that discussions will be extended for another day.
Washington has been clamouring for an end to the alleged forced transfer - and even theft - of American technology, as well as steep government subsidies for Chinese companies.
This week's meetings mark a departure from previous attempts to tackle broad areas of contention with high-level meetings, and the representatives from both sides have said that progress is being made.
"I think a deal is very possible and I've heard some very encouraging words", Apple chief executive Tim Cook told CNBC.
Ross said there was a "very good chance" of reaching an agreement, although monitoring compliance would present a challenge.More news: WRAPUP 2-Powell tells markets Fed is flexible and aware of risks
China and the United States have in the past repeatedly traded barbs over what Washington says is Beijing's militarization of the South China Sea by building military installations on artificial islands and reefs.
China is keen to put an end to its trade dispute with the United States but will not make any "unreasonable concessions", and any agreement must involve compromise on both sides, state newspaper the China Daily said on Wednesday (Jan 9).
But Bonnie Glaser, a senior adviser at the Center for Strategic and International Studies, said the timing of the North Korean leader's arrival could be coincidental.
Few details emerged of the trade talks, which were scheduled to run through Tuesday.
If no deal is reached by March 2, Mr Trump has said he will proceed with raising tariffs to 25 per cent from 10 per cent on US$200 billion (S$271.5 billion) worth of Chinese imports, at a time when China's economy is slowing significantly.
Lu Kang, spokesman for China's foreign ministry, said on Monday that Chinese military aircraft and naval vessels were dispatched to identify the USA vessel and warn it to leave the area near the disputed Paracel Islands in the South China Sea, claimed by China. "China has the good faith, on the basis of mutual respect and equality, to resolve the bilateral trade frictions". "And we're doing very well". Notably, Woody Island in the Paracels hosts China's largest island facility in the South China Sea, which has more than 1,000 permanently stationed military personnel and an airstrip capable of accommodating fighters.
China called it a violation of its sovereignty that has damaged "peace, safety and order" in the waterway.
"All operations... demonstrate that the United States will fly, sail and operate wherever worldwide law allows".