China stays silent as Trump talks up trade truce

China stays silent as Trump talks up trade truce

China stays silent as Trump talks up trade truce

Her arrest came on the same day U.S. President Donald Trump and Chinese President Xi Jinping reached an agreement on a 90-day truce on their tit-for-tat tariff hikes in order to forge a new trade pact.

President Trump said on Twitter Wednesday that China was sending "very strong signals" following the weekend trade discussions.

President Donald Trump threatened Tuesday to slap more tariffs on China if efforts to strike a trade deal with Beijing crumble.

Beijing pledged to import more U.S. products to narrow its massive trade surplus with the United States following the Argentina talks, but it has given few details about what was agreed.

"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. In May, Trump disavowed a joint statement the two countries agreed to in Beijing that made vague pledges for China to buy more agriculture and energy exports. I am a Tariff Man. China's crude oil imports from the USA had ground to a halt.

For its part, China has said it will import more United States products to reduce its trade surplus, but no dollar amount has been publicly discussed.

"It will proceed as planned, step by step, not based on the rhythm of the United States".

"We are no longer in the same buoyant economic or markets environment that we enjoyed earlier this year when threats of tariffs against China were first made", she said.

Su told Xinhuanet that cooperation is the best option for both China and USA, and both sides should jointly advance bilateral relations with coordination, cooperation and stability as the defining features.

Washington also expects China to promptly address structural issues including intellectual property theft and forced technology transfers, USA officials have said.

"They don't want to look like they've gone across the Pacific offering concessions to placate Trump, and then a few weeks later escalation resumes", he said. Trump administration officials struggled to explain the deal, while Beijing has yet to confirm the terms.

But China later broke its silence on the truce with a spokesman saying that the negotiations have a timeline and China plans to quickly work on the "agreed upon consensus".

"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 said.

China imports nearly 90 percent of its soybeans, and the United States had been the country's primary supplier of soybeans.

"The market is trying to figure out, is there going to be a real deal at the end of 90 days or not", Mnuchin said at a Wall Street Journal event on Tuesday.

In addition, Treasury Secretary Steven Mnuchin said Tuesday on the Fox Business Network that China agreed to buy $1.2 trillion of USA products.

The US President said China was supposed to begin buying US agricultural products and others "immediately" as part of an agreement to reduce the trade imbalance between them.

Related news