FTSE latest: London share prices PLUMMET amid US-China trade war fears

Donald Trump,US-China relations,US-China ties

Gen. Keane: U.S.-China Trade Truce Is 'A Step in the Right Direction' for Trump

While neither of these two energy products were mentioned by name, it's likely that China would not only appease the U.S.by removing tariffs on U.S. LNG imports but would also help itself since Beijing needs the diversity of supply that growing U.S. shale oil and gas exports offer.

Donald Trump's top economic adviser said the White House doesn't yet have a deal with China to reduce tariffs on USA -made cars, backtracking from a tweet by the president just two days earlier.

The 90-day truce in the escalating trade war between the USA and China came during a dinner meeting between the two presidents following the G-20 summit of the world's industrialized and emerging economies in Buenos Aires.

"The economic and trade teams of the two sides will actively promote the consultation work within 90 days in accordance with a clear timetable and road map", the officials said.

In addition, Treasury Secretary Steven Mnuchin said Tuesday on the Fox Business Network that China agreed to buy $1.2 trillion of US products. "Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina", Mr Trump said on Twitter.

Officials from the United States and a number of other major economies have often criticized China for its slow approach to negotiations and not following through on commitments.

Washington and Beijing said they will try to achieve a permanent deal within the next 90 days, however the US still has significant leverage, stating that if a formal deal can't be reached then it will hike tariffs from 10 percent to 25 percent, which could roil global stock markets, stagnate global economic growth, dampen oil demand growth and possibly lead to a recession across the globe, particularly in emerging economies.

Trump golf club employs undocumented workers: report, Government & Economy
The Trump Organization "did not comment specifically" on Morales or Diaz when asked by the Times . Soon after Mr Trump launched his run for the presidency, several illegal workers had shifts axed.


"President Xi and I want this deal to happen, and it probably will", Trump wrote on Twitter.

In a commerce ministry statement, Chinese officials called the talks between the two leaders a "great success".

Trump agreed that on January 1, 2019, he will leave the tariffs on United States dollars 200 billion worth of product at the 10 per cent rate, and not raise it to 25 per cent at this time. In a series of Tuesday morning tweets, the president showed optimism about reaching a "fair deal", but stressed that he is "a Tariff Man" if talks fail. Fentanyl, mixed in with heroin, has caused a spike in drug overdoses in the U.S.

Those remarks were echoed by President Trump himself, . who noted his good personal relationship with his Chinese counterpart Xi Jinping in a tweet on Monday. President Xi Jinping 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.

"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".

"Ultimately, I believe, we will be making a deal - either now or into the future", he wrote.

On the way into the White House, Daimler Chairman Dieter Zetsche told reporters he was "hopeful", while VW Chief Executive Herbert Diess said he hoped new USA tariffs could be avoided.

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