Published: Thu, December 06, 2018

China vows quick trade deal as Trump sends mixed signals

China vows quick trade deal as Trump sends mixed signals

Global markets cheered the weekend accord on Monday, only to reverse course Tuesday as doubts emerged over exactly what the world's two largest economies had agreed on.

"We are confident in implementation", the Commerce ministry statement read, calling the latest bilateral talks "very successful".

Rudd said that by March Trump will have a better handle on whether the U.S. Fed's rate hikes have softened his economy - helping determine the extent to which the U.S. economy can weather further tariffs if the deal collapses.

On Wednesday, Trump tweeted that "very strong signals" were being sent by China regarding trade with the United States.

According to details released by the White House, Trump agreed to postpone a planned January 1 escalation of tariffs on Chinese goods for 90 days, while Xi agreed to buy more American agricultural goods in the meantime.

"We are now taking in $billions in Tariffs".

As the United States and China carry out negotiations to finalise a deal over their economic dispute, Mr Trump has warned China to negotiate a fair deal or else continue to face imposed tariffs.

White House National Security Adviser John Bolton told the Wall Street Journal event on Tuesday that Chinese theft of United States intellectual property was among the administration's top concerns. In return, China agreed to buy more US goods in an effort to reduce the trade deficit, which Trump often fixates on.

President Donald Trump has declared victory in his trade war with China, claiming that Beijing had made "a big leap forward", but his declaration has reportedly left Chinese officials "puzzled and irritated".

"It doesn't seem like anything was actually agreed to at the dinner and White House officials are contorting themselves into pretzels to reconcile Trump's tweets (which seem if not completely fabricated then grossly exaggerated) with reality", JPMorgan Chase said in a trading note. "When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so", he added.

Trump didn't help when he tweeted 'I am a tariff man, ' which investors saw a sign a deal may not happen.

Pompeo said in Brussels on Tuesday the USA could abandon some worldwide agreements to thwart bad actors like China, which he accused of cynically exploiting World Trade Organization rules.

China has made no direct mention of specific goods it will buy.

Trump added that a 90-day timetable for negotiators to reach a deeper agreement had begun and that his aides would see "whether or not a REAL deal with China is actually possible". The company said it wants to ramp up production in North America and is considering - although hasn't yet decided - whether to set up a second plant in the make power trains. Fentanyl, mixed in with heroin, has caused a spike in drug overdoses in the U.S. Ultimately, I believe, we will be making a deal - either now or into the future.

A Chinese official told Reuters that officials were "waiting for the leaders to return" before publicizing details. He told reporters that China had said it was willing to "expand imports according to the needs of its domestic market and people, including importing marketable products from the U.S. to gradually ease the trade imbalances", adding that both sides had agreed to open their markets to each other. If China cracks down on this 'horror drug, ' using the Death Penalty for distributors and pushers, the results will be incredible!,' Trump wrote in a pair of tweets.

"Officials now face the hard task of fleshing out a deal that is acceptable to the Chinese but also involves significant enough concessions not to be torpedoed by the China hawks in the Trump administration", Capital Economics said in a note this week, adding that higher tariffs could simply be delayed.

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