United States stocks open higher amid eased trade tensions

U.S.-China Trade Dispute Truce Might Not Last

U.S.-China Trade Dispute Truce Might Not Last

The long-run picture may not be so sunny.

Xi Jinping's government did not, however, commit to reducing its trade surplus with the U.S.by any set figure, or to take any specific action to address America's complaints about its intellectual property practices.

Among those unable to celebrate the apparent trade truce were metal stocks that had stood to gain from reduced Chinese imports: AK Steel fell 5.1 percent and US Steel sank 3.8 percent.

"Right now, we have agreed to put the tariffs on hold while we try to execute the framework", Mnuchin said in a television interview on "Fox News Sunday".

Beijing and Washington said they have agreed to keep talking about measures under which China would import more US energy and agricultural commodities to narrow the $335 billion annual USA goods and services trade deficit with China.

The celebration could prove premature.

"You might as well have Hank Paulson doing this", said Bannon, who is traveling to Italy this week to meet with Matteo Salvini of the Northern League about the populist party's electoral success. "It never was a trade war", he said.

Mnuchin has said to expect to see a big increase - 35 percent to 45 percent this year alone - in US farm sales to China. The fuel "will likely see dramatic demand growth in the coming years, during which time the U.S.is also expected to dominate global export markets".

"We're so far along in our planting season that we can't change anything", said John Brink, who grows corn, soy and wheat in Richview, Illinois.

Europe's incentives come with a threat to retaliate against the U.S. with European tariffs on American imports, including iconic items such as Harley-Davidson motorbikes and bourbon whiskey. Nor was there any mention of limiting Chinese investment in the U.S.in order to demonstrate to Beijing that if doesn't allow USA companies to fully operate in China, America won't be open to its companies, either.

President Donald Trump's top economic adviser, Larry Kudlow, said Sunday on ABC that $200 billion is "a number that interests the president a lot".

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"I think the Trump administration will crow about the fact that they arranged for some additional sales". One month later, has China, powerless in the face of Trump's fearsome negotiating savvy, agreed to the U.S.'s demands?

This would help level the playing field between China and not only the US but other trading partners that take issue with China, including European Union members.

Treasury Secretary Steven Mnuchin says the US postponed tariffs on China after the two sides made progress toward a trade agreement.

Still, the Trump administration trumpeted what it said had been achieved in two days of talks.

China promised to increase purchases of U.S. agricultural and energy products: Mnuchin told Fox News on Sunday that China would increase its purchases of USA agricultural products by 35% to 40% over the next year, but he did not offer details.

Trade analysts and China watchers were underwhelmed. Now we get to export our natural resources like an island nation.Soil & Water via agriculture. U.S. LNG for its part is based on Henry Hub gas prices and offers a savings over oil indexation.

Last August, U.S. Trade Representative Robert Lighthizer began investigating Beijing's strong-arm tactics to challenge U.S. technological dominance. In recent months the two have threatened to impose punitive tariffs on billions of dollars in each other's exports. Trump later ordered Lighthizer to seek up to an additional $100 billion in Chinese goods to tax.

In addition to the trade truce, Wall Street indexes rose on news of $28 billion in US merger deals. So some business groups were relieved by the cease-fire. But the two sides gave no indication of how much progress they had made toward ending their dispute.

But Frisbie said he wanted to see further progress in addressing US businesses' complaints about how they are treated in China. Xinhua quoted China's Vice Premier Liu He as saying "the two sides reached a consensus, will not fight a trade war, and will stop increasing tariffs on each other".

Will China address U.S. allegations of technology theft? That project calls for China to develop world-class competitors in fields from information technology to electric cars to pharmaceuticals.

Farmers said they wanted more details. "They care about one thing, and that's Made in China 2025".

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