China promises prompt action on US trade pact

Trump at the G20 leaders summit in Buenos Aires Argentina

Ahead of his attendance at former President George H.W. Bush's state funeral Wednesday, President Donald Trump took to Twitter to express optimism about the state of trade negotiations with China following Tuesday's stock market plunge.

President Donald Trump agreed Saturday to postpone US tariff hikes in a fight over Beijing's technology policy by 90 days while the two sides negotiate.

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.

"We are very confident in reaching an agreement (with the United States) within the next 90 days", China's commerce ministry spokesman Gao Feng said in a weekly briefing, adding both sides have been communicating and cooperating "smoothly" since the leaders met in Argentina.

He also said that Xi had promised him that the Chinese government would crack down harder on fentanyl shipments from China to the USA, and tweeted a quote from a Bloomberg story which said that China was ready to restart imports of US products, including soybeans and natural gas. Since then, the two countries have exchanged several rounds of trade duties on hundreds of billions of dollars' worth of goods.

Stocks rally on China-US trade war truce, dollar down, yuan up
WALL STREET: A cease-fire in a trade dispute between the world's two largest economies lifted major US indexes on Monday. The dollar fell 0.5 percent against the offshore yuan to 6.8421 on Tuesday, its weakest level since September.

Move over France: Free promotion sparks 'cheesecake riot' in US
A spokesperson for DoorDash says the food delivery company is aware of the incident and cooperating with local law enforcement. Authorities said a struggle ensued while officers attempted to take the man into custody.

Arsenal boss Holding out hope defender’s injury is not too serious
Usually United create a lot of chances here, and I don't think we conceded a lot of chances. "I think that's a big part of it". " Even in matches like today, where we played well we always shoot ourselves." "We are going to wait, it is his knee".

The two sides also will discuss intellectual property protection, technical cooperation, market access and their trade balance, Gao said.

Gao confirmed for the first time since the high-stakes meeting that China had agreed to implement consensus reached by both sides on agriculture, energy and cars, although he did not give details on any specific measures.

"Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina", Trump tweeted.

The Trump administration has imposed tariffs on Chinese... China had been the largest purchaser of USA soybeans, buying $12.25 billion worth of that product in 2017.

Asked about Trump's statement that Beijing would cancel tariff hikes on US -made autos, Gao referred reporters to the Cabinet's tax commission.

Related News:



Most liked

Greenland Ice Sheet Melting Faster Than Ever, Reacting Even With Minimal Warming
A 2016 analysis using satellite-derived gravity data found Greenland lost a trillion tons of ice between 2011 and 2014. This frozen meltwater creates distinct ice bands that pile up over years to form layers of densely packed ice.

THE BAND'S VISIT, CAROUSEL & More Nominated for 2019 GRAMMY AWARDS
Monáe, herself snagged an Album Of The Year nomination for her most recent project, Dirty Computer . Critics love Brandi Carlile , but the folk singer-songwriter is not exactly a household name.

Officials in Navalgund Taluk drain lake after HIV
According to the district health officials, people are unnecessarily anxious that HIV could spread by drinking the lake waters. The reports claimed that she had been suffering from HIV and that possibly could be the reason why she committed suicide .

'ANTM' alum Jael Strauss was dedicated to helping addicts
She entered hospice on November 22. "So many things I never knew about life", Jael reportedly wrote at the time. "Or death. Her friends wrote on the crowd sourcing page, "She has just begun chemo, but we do not know how things will play out".

Deontay Wilder - Tyson Fury rematch will end 'controversial talk' over decision
Taking on Wladimir Klitschko at his fortress in Germany was seen as mission impossible, yet he emphatically defied those odds. I still can't get to grips with it and how any judge and any single person watching that fight couldn't give it to Tyson.

Trump announces Barr as AG ... again
Two people familiar with the discussions said the president has told advisers in recent days that he plans to nominate Barr. If confirmed by the Senate, Barr would succeed Attorney General Jeff Sessions , who was forced out by Trump in November.

Alexandria Ocasio-Cortez promises to pay interns $15 an hour
House interns fare worse: Only 8 percent of those who work for Republicans and 3.6 percent who work for Democrats get paid. Kamala Harris, Virginia Democrat Mark Warner and New York Democrat Chuck Schumer.

Brie Larson packs punch in 'Captain Marvel' trailer
CAPTAIN MARVEL brings us back in time to the 1990s before all of the events we have seen in the MCU . Danvers is haunted by flashes of her past life on Earth and a sense of duty to protect the planet.

FTSE latest: London share prices PLUMMET amid US-China trade war fears
The deal will also keep, at least for now, Trump from placing another $267 billion worth of Chinese goods under tariffs. A Chinese official told Reuters that officials were "waiting for the leaders to return" before publicizing details.

U.S. must stay in Afghanistan or face new 9/11, top general urges
Mr Khan said a precipitous American withdrawal from Afghanistan would lead to a repeat of the chaos of the 1990s. "We are in Afghanistan to help the Afghan people but we are also in Afghanistan to help ourselves".

‘Persona's' Joker Confirmed For ‘Super Smash Bros. Ultimate’ As DLC
For the time being, however, Persona fans have been going insane over the news that Joker is Smash bound. Nintendo revealed additional details about the game during a Nintendo Direct last month.

Jurgen Klopp and Sean Dyche have tetchy post-match exchange
When his replacement won a corner, Virgil van Dijk met Milner's cross with a firm header only to direct it straight at Joe Hart. With just over 20 minutes to play, Klopp brought on Mohamed Salah and Roberto Firmino and it proved to be an inspired change.

Cuba rolls out mobile internet service for cost of month's salary
The government permitted home internet usage in 2017, when it had also introduced cybercafes and outdoor WiFi hotspots. Gaining full internet access on a phone may seem archaic in the States, but in Cuba, it's been a work in progress.

Burger King is giving away 1-cent Whoppers...at McDonald's
The Whopper Detour , which works by geofencing McDonald's locations across the country, runs until Wednesday, Dec. 12. Recently, the fast food chain announced a new promotion to encourage people to use their mobile app.

Guendouzi Hilariously Reacts To Fellaini Pulling His Hair
After Marouane Fellaini pulled back his hair at Old Trafford, Unai Emery has jokingly proposed Matteo Guendouzi takes drastic action.