Thiessen: China goes toe-to-toe with Trump on trade - and trips

07 December, 2018, 23:45 | Author: Regina Silva
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The negotiations with China have already started.

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.

US President Donald Trump and China's President Xi Jinping shake hands after making joint statements at the Great Hall of the People in Beijing November 9, 2017.

However, Trump held out the possibility of an extension.

Trump added China would roll back tariffs of 40% on cars.

The White House said that the U.S. has agreed that the tariffs on $200 billion worth of product will remain at 10% until January 1st 2019 and that 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".

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"China will start from agricultural products, autos and energy to immediately implement specific items that China and the USA have agreed upon", Ministry of Commerce Spokesman Gao Feng told reporters in Beijing.

The US Commerce Department said the country's trade deficit with China in October expanded 7.1 percent from the previous month to a record 43.1 billion dollars.

"All of these help to safeguard China's legitimate interests, and are also in the interests of the United States, and even more are in line with the expectations of the global community", he added in a statement carried on the foreign ministry's website. It also would begin buying products from United States farmers "immediately".

American farmers have been hit hard by China's retaliation on United States farm goods, especially soybean exports, which have plummeted.

Washington and Beijing have exchanged steep tariffs on more than US$300 billion (RM1.2 trillion) in total two-way trade, locking them in a conflict that has begun to eat into profits.

In a subsequent tweet, Trump said he would "happily sign" a "fair deal" that addresses USA concerns, should one be reached with Beijing.

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