Shinzo Abe’s advice to Xi Jinping on talking trade with Donald Trump

Shinzo Abe’s advice to Xi Jinping on talking trade with Donald Trump

Shinzo Abe’s advice to Xi Jinping on talking trade with Donald Trump

While at the conclusion of Saturday's working dinner, both the US and Chinese delegations said that what amounted to a trade war "truce" between the leaders had been reached, the messaging from the White House that followed seemed to only muddy the waters. For months, the two countries have engaged in tit-for-tat increases in tariffs on hundreds of billions of dollars of exports flowing between the two countries.

"US President Donald Trump on December 5 said he believed Chinese President Xi Jinping was being honest at their meeting on trade and that Beijing had been sending "strong signals" since then".

But concerns linger over discrepancies in information coming from either side.

The ministry lauded Mr Trump's talks with President Xi Jinping at the weekend as "successful", and said it was "confident" their agreement would be implemented.

The ministry said that China would try to work quickly to implement specific items already agreed upon, as both sides "actively promote the work of negotiations within 90 days in accordance with a clear timetable and road map".

A day later, President Trump said on his Twitter that "the negotiations with China have already started" and that the deal will probably happen.

Skepticism mounted Tuesday about President Trump's impromptu trade agreement with the president of China, as Mr. Trump threatened new penalties against Beijing if the deal falls through.

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As I noted yesterday, the agreement between Trump and Chinese President Xi Jinping seemed to be little more than a series of vague goals with no concrete timeline or definitive way to measure progress.

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.

"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. He told reporters that China had said it was willing to "expand imports according to the needs of its domestic market and people, including importing marketable products from the United States to gradually ease the trade imbalances", adding that both sides had agreed to open their markets to each other.

Furthermore, contradicting statements from United States and Chinese officials, shattered United States stock prices on 4 December.

Mr. Trump said this week that China agreed in talks to eliminate vehicle tariffs of 40 percent, which would be a boon to foreign automakers.

Meanwhile, White House National Economic Council Director Larry Kudlow said there wasn't an actual agreement for China to remove auto tariffs, but that he expected China to eventually do it as a measure of good faith.

The BBC's Robin Brant in Shanghai said China's comments put it at odds with the White House.

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US Trade Representative Robert Lighthizer will lead the talks to see "whether or not a REAL deal with China is actually possible", Trump tweeted on Tuesday.

After describing the agreement made between China and the USA during the G-20 summit in Argentina over the weekend as "an incredible deal" and "one of the largest deals ever made", Donald Trump has done an unsurprising 180 after apparently finally appearing to catch up with reality.

Trump applauded the news in a tweet. "It will always be the best way to max out our economic power", he said.

The Trump administration has imposed tariffs on Chinese... China's crude oil imports from the USA had ground to a halt.

"But if a fair deal is able to be made with China, one that does all of the many things we know must be finally done, I will happily sign".

China could be preparing to spring a global compact to drive tariffs to zero, and approach Trans-Pacific Partnership (TPP) members including Australia for access to the grouping, positioning Beijing as a champion for free trade. China now has until April to make a deal or suffer the higher tariff.

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