China stays silent as Trump talks up trade truce

What Trump Expects by Giving China a 90-Day Tariffs Break

‘I am a tariff man’: Trump warns China against raiding ‘great wealth’ of US as trade talks start

President Donald Trump and his Chinese counterpart, Xi Jinping, held an effective meeting on the side-lines of the summit, held over the weekend in Argentina.

The two leaders said they would hold off on imposing additional tariffs for 90 days starting December 1 while they seek a solution to their beefs over trade. "If it is, we will get it done", Trump said in a Twitter post.

"I think President Trump's strategy on tariffs were very effective", he stated.

After the meeting, Washington agreed to hold off on Trump's threat to raise tariffs on $200 billion in Chinese imports to 25 percent beginning January 1, leaving them at the current 10 percent rate.

"The negotiations with China have already started".

Beijing has not yet confirmed the move and President Trump's advisers appeared less certain about the agreement.

Following the Trump-Xi talks, which took place over dinner at the end of the G20 summit, Washington agreed to hold off on Trump's threat to slap 25 per cent tariffs on Dollars 200 billion worth of Chinese goods from January 1, leaving them at the current 10 per cent rate.

A lack of detail from the Chinese side has left investors and analysts wondering if Mr Trump's exuberance is warranted, and if details touted by the White House but left out of Chinese reporting on the agreement are in question.

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In the past 24 hours, there were signs that White House officials were beginning to backpedal from some of their initial optimism.

The United States expects China to take immediate action to cut tariffs on USA auto imports and end intellectual property theft and forced technology transfers as the two countries move toward a broader trade deal, a White House official said on Monday.

"This is the first time there was a commitment for an agreement from China that the agreement will contain specific dates, specific action items", Mnuchin told reporters. "I wouldn't read a lot into that myself", said Kudlow, speaking at the Wall Street Journal's CEO Council's annual conference in Washington.

"China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial and other product from the United States to reduce the trade imbalance between our two countries", according to the White House statement. But if not remember, I am a Tariff Man", he tweeted on Tuesday. "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. White House economic advisor Larry Kudlow said the figure was a broad benchmark that would depend on private transactions for United States goods and was subject to market conditions. Trump named U.S. Trade Representative Robert Lighthizer to lead the talks with Beijing. Trump said on Tuesday that Lighthizer would work closely with Mnuchin, Kudlow and trade adviser Peter Navarro, who is a notorious China hawk.

"If they have to buy something, then they can ask (state stockpiler) Sinograin to buy, the tariff is OK for reserves", said another China-based trader with a global trading firm.

It also said China had agreed to start buying farm products from U.S. farmers immediately. "MAKE AMERICA RICH AGAIN", he continued.

Sustained gains in prices will depend on how quickly shipments of soybeans and other products resume given the higher prices they will command in China due to the tariffs.

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