'Tariff Man' Trump Says He May Extend Truce in China Trade War

Trump Said China Has Agreed To Cut Tax On US Made Cars

Trump Said China Has Agreed To Cut Tax On US Made Cars

Wall Street's major indexes rallied on Monday following a truce between the United States and China in their trade dispute, which has clouded the outlook for the stock market for much of the year.

Also Friday morning, Larry Kudlow, director of Trump's National Economic Council, said in an appearance on CNBC that Trump has indicated he might be willing to extend the current 90-day negotiating window if there's "good, solid movement and good action".

Trump said he and Xi "have a very strong and personal" relationship.

'People are still very concerned about the trade war, ' Dan Suzuki, portfolio strategist at Richard Bernstein Advisors told CNN.

China's government isn't yet able to formulate its response to the summit on trade with Trump as senior officials are still out of the country with Xi, according to three officials who were briefed but declined to be named as the matter isn't public. Before this decision to cut the extra taxes on the USA made cars China used to levied more than 40% taxes on all the United States made imported vehicles in their country.

Trump agreed in July not to impose higher duties on European Union cars while the two sides sought to improve ties in a number of fields, from regulatory cooperation to energy and a deal to remove tariffs on industrial goods.

Officials in Beijing declined to comment on Trump's auto tweet and haven't confirmed such an agreement.

Chinese State Councilor Wang Yi told reporters, "The two presidents agreed that the two sides can and must get bilateral relations right".

China declined to confirm that such a deal had been struck.

Trump on Wednesday touted Beijing's agreement to designate Fentanyl as a Controlled Substance.




US soybean futures rose to their highest level since at least August, part of a broader commodities rally. It wasn't clear whether the preparations meant China would cut the retaliatory tariffs it imposed on those products, or when the purchases would happen.

Consider how China has played this game.

President Donald Trump met Tuesday with executives from Germany's big automakers amid U.S.

Kudlow told reporters yesterday that the administration would meet with the executives individually and would talk about "a lot of things, including our hope that they will continue to invest directly in the USA and that they will use". 'Maybe that's why I'm here'.

"We hope that this will serve as a starting point for additional negotiations, and an agreement in the future that will allow USA companies to remain competitive in a global marketplace while protecting intellectual property rights", MEMA said.

'The actual amount of concrete progress made at this meeting appears to have been quite limited, ' Alec Phillips and other economists at Goldman Sachs wrote in a research note.

Chinese officials have begun preparing to restart imports of U.S. soybeans and liquefied natural gas, the first sign confirming the claims of President Donald Trump and the White House that China had agreed to start buying some USA products "immediately".

White House National Security Adviser John Bolton told the Wall Street Journal event on Tuesday that Chinese theft of US intellectual property was among the administration's top concerns.

The two leaders on Saturday agreed to the ceasefire in a trade war that has seen the flow of hundreds of billions of dollars worth of goods between the world's two largest economies disrupted by tariffs.

Trump agreed to hold off on plans to raise tariffs on $200 billion in Chinese goods, which were supposed to kick in on January 1.

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