Wednesday, 19 December, 2018

Trump Says Trade Talks With China 'Going Very Well'

Trump at the G20 leaders summit in Buenos Aires Argentina Trump at the G20 leaders summit in Buenos Aires Argentina
Nellie Chapman | 07 December, 2018, 23:50

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.

He also said that Xi had promised him that the Chinese government would crack down harder on fentanyl shipments from China to the USA, and tweeted a quote from a Bloomberg story which said that China was ready to restart imports of US products, including soybeans and natural gas.

President Donald Trump, right, has dinner with China's President Xi Jinping, left and members of their delegation at the end of the G20 Leaders' Summit in Buenos Aires, Argentina, Dec. 01, 2018.

As part of the truce, Trump agreed to hold off on plans to raise the tariffs on $200 billion in Chinese imports to 25% beginning 1 January, leaving them at the current 10% rate.

"China will immediately implement the consensus both sides already reached on agricultural products, energy, autos and other specific items", a commerce ministry spokesman, Gao Feng, said at a regular press briefing. It also would begin buying products from USA farmers "immediately".

The White House has said China agreed to purchase a "very substantial" amount of agricultural, energy, industrial and other products to reduce the trade gap.

China and the United States have been engaged in a trade war after Trump announced in June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit.

"China and United States have reached very important consensus as both sides' interests overlap", Gao said.

Trump warned that although he and Xi want to get to an agreement "remember, I am a Tariff Man".

"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.