China's State Media Offers Some Clarity on U.S. Trade Deal

China's State Media Offers Some Clarity on U.S. Trade Deal

China's State Media Offers Some Clarity on U.S. Trade Deal

Chinese officials have commenced preparations to resume imports of US soybeans and liquefied natural gas (LNG) following the meeting between the two Presidents over the weekend where China agreed to enhance its imports from the U.S.

According to the White House, the USA will still keep in place $200 billion of tariffs on Chinese imports but will not increase those tariffs from 10 percent to 25 percent after the start of the year as originally planned.

In Buenos Aires, Trump agreed to delay the scheduled USA tariff increase for 90 days while the two sides negotiate over the administration's complaints related to how Beijing systematically steals trade secrets and forces the US and other foreign countries to hand over sensitive technology as the price of admission to the vast Chinese market.

Stocks in the U.S., Europe and Asia fell sharply after Trump declared himself "a Tariff Man" who wants "people or countries" with intentions to "raid the great wealth" of the U.S.

Microsoft Announces Move to Chromium For The Edge Browser
Microsoft's decision gives Google more ability to single-handedly decide what possibilities are available to each one of us. According to Belfiore, Microsoft plans to make the switch to Chromium "over the next year or so".

The Ministry of Commerce of China announced that the ultimate goal of the Chinese-American trade negotiations is the abolition of all fees. It wasn't clear whether the preparations meant China would cut the retaliatory tariffs it imposed on those products, or when the purchases would happen.

Both sides will immediately hold talks on structural changes concerning forced technology transfers made by Chinese firms on US companies, intellectual property rights protection, non-tariff trade barriers, cyber intrusion concerns, cyber theft and agricultural, the White House added.

The two leaders on Saturday agreed to the ceasefire in a trade war that has seen the flow of hundreds of billions of dollars worth of goods between the world's two largest economies disrupted by tariffs.

But earlier this week, Mr Trump said Beijing must pay for the "privilege" to trade with Washington.

How major USA stock indexes fared Tuesday
Defensive Utilities .SPLRCU eked out a 0.2 percent gain, the only one of the 11 major S&P 500 sectors in positive territory. Small-company stocks, which investors see as more risky than large multinationals, fell more than the rest of the market.

Another significant take-away from the preliminary agreement could be its impact on energy markets, both US oil import to China and perhaps even more importantly from a development perspective liquefied natural gas (LNG) imports.

He also signaled optimism that President Xi Jinping would deliver on his promise, after their meeting in Argentina. The downside for China is that it also needs US sourced LNG as its insatiable gas demand expands amid Beijing's mandate that gas make up at least 10 percent of its power generation energy mix by 2020, with further earmarks set for 2030. -China relations "will remain contentious".

Trump, via Twitter, threatened to place "major tariffs" on Chinese goods imported into the United States if his administration is unable to reach an effective trade deal with Beijing.

Mr Xi and his most senior officials, including the Commerce Minister and the country's two top diplomats, are in Portugal, and due back in China on Thursday. China's government has yet to issue official comment on those details.

First Baby Born From Uterus of Deceased Donor
Nearly exactly a year after the baby's historic birth, Ejzenberg says she is developing normally and her mother feels "fulfilled". Those transplants can only be done for women who find a donor, who must undergo a complicated surgery and lengthy recovery, Dr.

Related news