Published: Fri, December 07, 2018
Markets | By Otis Pena

'very strong signals' that China is ready for a trade deal

'very strong signals' that China is ready for a trade deal

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.

Few details have been made public about what the two sides will negotiate, a lack of clarity that has unsettled stock markets.

Asked to confirm whether Beijing promised to buy American goods immediately, Gao said China will "immediately implement the consensus reached by the two sides on farm products, cars and energy".

"In the next 90 days, we will follow a clear timetable and roadmap to hold consultation on issues of intellectual property rights protection, technological cooperation, market access and trade balance that conform to the interests and demands of both sides, and the two sides should strive to reach consensus", Gao said.

But the spokesman did not provide more specific details about what actions China would take.

In Argentina last weekend, Trump and Xi agreed to a truce that delayed the planned January 1 US hike of tariffs to 25 percent from 10 percent on $200 billion of Chinese goods while they negotiate a trade deal.

Real Madrid complete 10-1 aggregate thrashing of Melilla
Vinicius and Marco Asensio would play alongside each other when they take on Melilla on Thursday. The score stands at 0-4 from the first leg when the two teams met in October.

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.

The White House has said China agreed to purchase a "very substantial" amount of agricultural, energy, industrial and other products to reduce the trade gap.

According to Xinhua news agency, experts said "the important meeting sends a positive signal in the development of China-US relations, one of the most important bilateral ties in the world".

USA imports from China rose 4.4 percent while exports fell 6.7 percent as China's retaliatory tariffs have led to reduced exports of United States soy beans.

"China is full of confidence in reaching an agreement within the next 90 days", the spokesman said. It was unclear if Gao was referring to the tariffs in his remarks to reporters.

That optimistic tone contrasted with Chinese criticism of Canada's arrest of an executive of technology giant Huawei who a Toronto newspaper said is accused by the United States of trying to violate trade curbs on Iran.

Like this: