Economy

Trump optimistic despite haze around China trade

Trump optimistic despite haze around China trade

Among the issues covered during a meeting between the two countries at the G20 summit in Buenos Aires, Argentina, the USA says China agreed to purchase a "not yet agreed upon, but very substantial" amount of agricultural, energy, industrial and other products from the U.S. to reduce the trade imbalance between them, the White House has said.

Trump, via Twitter, held out the possibility of an extension of the ceasefire but warned tariffs would be back on the table if the talks failed to bear fruit.

The US says China is the primary source of fentanyl found within US borders, according to a 2017 US congressional report citing law enforcement and drug investigators.

During the talks in Buenos Aires, Trump agreed to delay a scheduled escalation in US tariffs on many Chinese goods, from 10 percent to 25 percent, that had been set to take effect January 1.

"Very strong signals being sent by China once they returned home from their long trip, including stops, from Argentina. ALL subjects discussed!" the US leader wrote a few hours before he will be face-to-face with all other living presidents for the first time since he was sworn into office in January 2017.

That optimistic tone contrasted with Chinese criticism of Canada's arrest of an executive of technology giant Huawei who a Toronto newspaper said is accused by the United States of trying to violate trade curbs on Iran.

The United States and China have been engaged in a trade war that was triggered when 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.

"From our point of view, no tariffs have been eliminated, none of China's bad trade policies have been addressed and probably most importantly we have lost our reputation as a reliable trading partner and, therefore, stable markets in China and elsewhere long-term".

The benchmark Shanghai stock index .SSEC closed down 0.6 percent on Wednesday. United States soybean exports to China since September 1 have fallen to 339,000 tons from almost 15 million tons in the year-ago period.

Arsenal boss Holding out hope defender's injury is not too serious
Speaking on Match of the Day , Keown said: "The fighting qualities they [Liverpool FC] showed tonight were outstanding".

"I am not sure, you know, that the objective is a trade agreement".

Officials from the USA and a number of other major economies have often criticized China for its slow approach to negotiations and not following through on commitments.

Kudlow said he did not think that vehicle tariffs were imminent, though he added that they were in Trump's "quiver of arrows".

However, it still remains unclear when the purchases will take place and whether China will remove the retaliatory tariffs on these products or not; Beijing may instead choose to reimburse buyers for the tariffs paid as they have previously done so.

"Global demand for US red meat is very strong, but exports can not reach their full potential until the retaliatory duties imposed by Mexico, China and Canada are removed", he said.

Ma Hong, a trade expert at Tsinghua University's School of Economics and Management, said companies and financial markets should not read too much into China's delay in talking.

The president, China's most powerful leader since at least the 1980s, flew from Argentina to Panama for an official visit and on Wednesday was in Portugal.

"It will be a win-win situation if a deal is realized. Chinese society should maintain a calm attitude", it said.


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