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giftedviz.com December 14, 2018


'China talks are going very well'

07 December 2018, 11:52 | Austin Hogan

Trump at the G20 leaders summit in Buenos Aires Argentina

Trump at the G20 leaders summit in Buenos Aires Argentina

China's government said Thursday it will promptly carry out a tariff cease-fire with Washington and is confident they can reach a trade agreement, suggesting Beijing wants to avoid disruptions due to the arrest of a tech executive.

The clock started ticking on December 1, when Trump met in Buenos Aires with China's leader Xi Jinping and agreed to work towards an agreement to roll back the exchange of tariffs on hundreds of billions of dollars in two-way trade.

China and the USA have reached agreement in the sectors of agriculture, autos, and energy, and China will immediately start implementing that consensus, a government spokesman said.

China yesterday appeared to try to ease concerns by saying it would "immediately" implement measures agreed under the truce.

Talks during the 90 day period during which President Donald Trump has agreed to suspend US tariff hikes will start by focusing on farm goods, energy and automobiles, said a Ministry of Commerce spokesman, Gao Feng.

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The White House has said China had committed to start buying more American products and lifting tariff and non-tariff barriers immediately, while beginning talks on structural changes with respect to forced technology transfers and intellectual property protection.

"Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina", Trump tweeted.

The Washington Post reported, though, that tariffs on U.S. cars had only been raised earlier this year in response to Trump's trade war escalation. It also would begin buying products from United States farmers "immediately".

That was compounded by news that a top executive at Chinese telecoms giant Huawei had been arrested in Canada and faces extradition to the U.S. over allegations the firm had broken sanctions linked to Iran.

"When it comes to the trade policies that have been proposed so far specifically, I think we can all expect that there will be further tariff increases on USA imports of Chinese goods, whether that's within the 90-day window that we are now operating under a pause or outside that window", Anderson told a small group of reporters in Beijing on Thursday.



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