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giftedviz.com December 14, 2018


Kudlow backtracks on Trump tweet announcing vehicle deal with China

07 December 2018, 07:00 | Austin Hogan

Trump claims 'BIG leap forward' in China trade talks, but details unclear

Trump Said China Has Agreed To Cut Tax On US Made Cars

Sources told Reuters that Chinese oil trader Unipec plans to resume buying USA crude by March after the Xi-Trump deal reduced the risk of tariffs on those imports.

President Donald Trump and executives from Germany's biggest automakers discussed the companies' investments in the USA on Tuesday as trade tensions with the Europeans and Trump's threat to impose tariffs on foreign cars sold here loomed overhead.

The world's two largest economies reached a 90-day trade truce Saturday after Trump and Chinese President Xi Jinping met at the G-20 summit in Argentina.

"There was a significant commitment from both leaders on what needs to be done over the 90 days and instructions to both teams to negotiate and turn this into a real agreement with specific action items, deliverables and time frames", Mnuchin said.

The U.S. president a day earlier had said the ceasefire could be extended but warned tariffs would be back on the table if the talks failed and that he would only accept a "real deal" with China.

Trump tweeted on Monday that his meeting with President Xi was "extraordinary", and that "very good things" will happen in terms of the United States' relationship with China.

China, for its part, also agreed to offset its massive trade imbalance with the U.S.by buying more, but not yet specified amounts, of energy products, agricultural, industrial and other products.

Washington and Beijing said they will try to achieve a permanent deal within the next 90 days, however the USA still has significant leverage, stating that if a formal deal can't be reached then it will hike tariffs from 10 percent to 25 percent, which could roil global stock markets, stagnate global economic growth, dampen oil demand growth and possibly lead to a recession across the globe, particularly in emerging economies.

"I am certain that, at some time in the future, President Xi and I, together with President Putin of Russian Federation, will start talking about a meaningful halt to what has become a major and uncontrollable Arms Race".

It's time to watch The Game Awards together
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After the leaders of the world's two biggest economies agreed to a temporary pause in their trade war, .

One Chinese official said officials were "waiting for the leaders to return" before publicising details. "But if not remember, I am a Tariff Man".

US stocks got a big lift Monday after the G20 meeting over the weekend cleared up some major uncertainties for investors.

Washington, but not Beijing, has also said China will cut import tariffs on American cars.

Trump again claimed Tuesday that more tariffs on China would actually help the U.S. He contended that he has made China "pay for the privilege" of raiding "the great wealth of our Nation".

But by Tuesday morning, Trump was renewing his tariff threats in a series of tweets.

"Ultimately, I believe, we will be making a deal - either now or into the future", he wrote.

Tariffs have proven taxing on many companies, especially those with global supply chains and suppliers in China.

Many economists have expressed scepticism that very much could be achieved to bridge the vast disagreements between the two countries in just 90 days.



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