China trade war talks will end in March - unless they don't

Donald Trump threatened to slap a range of import penalties on Chinese products if they didn't make major changes in their economic relationship with the US

Donald Trump threatened to slap a range of import penalties on Chinese products if they didn't make major changes in their economic relationship with the US

US president Donald Trump expressed optimism for a US-China trade deal on Tuesday but warned if talks fall apart he is "a Tariff Man." .

"China has to do this, basically to get room to breathe", said an executive at a state-owned trading house.

"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".

This is a much different characterisation of the China talks than just three days ago, when Trump had dinner with China's president at a meeting of the Group of 20. They wouldn't even acknowledge that there was a 90-day deadline under which they were operating.

While it remains to be seen if Washington and Beijing can iron out their trade differences, it would be beneficial for both sides' energy sectors to at least reach some sort of deal that would allow the free trade of energy between the two super powers.

Trump addressed one of the concerns by indicating he would not be opposed to extending the 90-day truce. The US automaker said it was "encouraged by the trade discussions" as it awaited more detail.

White House national security adviser John Bolton told The Wall Street Journal's CEO Council meeting on Tuesday that Chinese theft of United States intellectual property was among the administration's top concerns.

The president's Treasury secretary, Steven Mnuchin, told reporters Monday that there will be "specific changes right away" to help the agricultural industry, even as the majority of the tentative agreement remains to be worked out over a 90-day-period agreed upon between the US and China.

Senior Chinese officials did not mention this deal in a news conference. -China trade talks were on track. The company started making the X3 SUV in China this year, in addition to the several other models like the 1-, 3- and 5-Series sedans.

Trump said China had committed to buying large amounts of US agricultural products and completely removing all tariffs on US automobiles a huge shift from its current 40 per cent penalty although China hasn't confirmed this
‘I am a tariff man’: Trump warns China against raiding ‘great wealth’ of US as trade talks start

He said the United States should look into a rule that would bar imports of Chinese products that used stolen USA intellectual property. "Nobody is under any illusions". "I am a Tariff Man", Trump wrote on Twitter. Trump has not promised to lift all tariffs against Chinese goods.

"The two key events of roughly the last week have been the painkiller dose offered by [Federal Reserve chair Jay Powell] and the soothing market effects of the so-called US-China truce", the Financial Times cited the high-profile analyst as saying. The development signals the most prominent gain since summer 2005, when China stripped its currency of domestic limitations and placed it into a more flexible, but volatile, foreign exchange domain.

The economic agreementTrump said he reached with Chinese leader Xi Jinping on Saturday showed signs of unravelling by Tuesday.

Washington also expects China to promptly address structural issues including intellectual property theft and forced technology transfers, USA officials have said.

The US accuses China of unfair trading practices and tariffs are meant to counter Chinese practices that make it hard for American companies to compete.

Another layer of uncertainty over the talks has been a lack of commitment by the Chinese to broker a deal within a 90-day window announced by the United States, commencing from the date of the dinner.

At his political rallies and news conferences, Trump often praises the increase in US military spending during his almost two years in the White House.

Trump and Xi also agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture, according to the White House statement.




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