Published: Thu, December 06, 2018
Worldwide | By Jermaine Blake

Trump Tries to Calm Global Markets After Stocks Drop Sharply

Trump Tries to Calm Global Markets After Stocks Drop Sharply

Beijing tried to boost optimism over the world's two largest economies yesterday, after days of interventions from Mr Trump and his advisers.

The Chinese have not acknowledged a 90-day deadline for the talks or said that they plan to "immediately" increase purchases of U.S. farm goods.

The president's optimism comes just after a day since he publicly declared himself a "Tariff Man", and stood by his protectionist trade policies even after stocks fell almost 800 points amid confusion over the result of Trump's meeting with Chinese President Xi Jinping.

On Wednesday, Trump tweeted that "very strong signals" were being sent by China regarding trade with the United States.

The White House on Monday had to correct a statement by economic adviser Larry Kudlow, who incorrectly told reporters in a conference call that the 90-day negotiating period between the US and China would begin on January 1 instead of December 1.

Lacking that, we may need a hero to stand against the threat of Tariff Man.

Bob Lighthizer will be working closely with Steve Mnuchin, Larry Kudlow, Wilbur Ross and Peter Navarro on seeing whether or not a REAL deal with China is actually possible.

For their part, Trump and White House officials have promoted the apparent US-China agreement in Buenos Aires as a historic breakthrough that would ease trade tensions and potentially reduce tariffs - even though Beijing has not confirmed that it made most of the concessions that the Trump administration has claimed.

Mr. Trump has used tariffs to force Beijing to the negotiating table over its long-standing trade abuses, including tariffs and other trade barriers, theft of intellectual property and forced transfer of technology from USA companies doing business in China.

BT to strip China's Huawei from core networks, limit 5G access
Fellow UK mobile carrier Three last month also announced that it is working with Huawei on a 5G home broadband demo in London. Huawei's "enhanced packet core" technology is still at the core of EE's 4G network today.

Samsung Galaxy A8s with Infinity O display coming on 10 December 2018?
Mid-October 2018, HUAWEI introduced the Mate 20 Pro , the successor model to the Mate 10 Pro in London. Huawei will offer different smartphones in the coming months, in addition to its primary route.

Still hoping to host Kim soon
After their third meeting in Pyongyang, North Korea's capital, in September, Moon said Kim agreed to make a reciprocal visit to Seoul this year.

China vowed Wednesday to move swiftly to strike a trade consensus with the United States, even as mixed signals on the detente from self-described "Tariff Man" Donald Trump's administration upset global markets.

White House national security adviser John Bolton, who also attended the Saturday meeting, said the verdict was still out on what China would ultimately do. "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", he added.

Trump has long accused China of unfair trade practices that hurt Americans and the USA economy.

"There is already evidence of a normalization in relations with Tokyo", he said, noting a reduction in the frequency of Chinese incursions into the Diaoyudao islands in the East China Sea, which Japan calls the Senkaku islands.

Officials from the USA and a number of other major economies have often criticized China for its slow approach to negotiations and not following through on commitments. "ALL subjects discussed!" Trump tweeted on 5 December. The company said it wants to ramp up production in North America and is considering - although hasn't yet decided - whether to set up a second plant in the U.S.to make power trains.

U.S. Trade Representative Robert Lighthizer is taking over as lead negotiator from Mnuchin, who will continue to be involved in deals. Chinese shares closed lower yesterday amid similar doubts. The statement did not mention Trump or Xi, however the state news agency Xinhua later said the ministry statement was hailing their meeting. "It's just madness", one anonymous former official told The Post on Tuesday.

Mr. Trump said this week that China agreed in talks to eliminate auto tariffs of 40 percent, which would be a boon to foreign automakers.

One of the few automotive stocks to score a gain on Tuesday was Tesla which only recently began work on a new factory in Shanghai that eventually will let it sidestep the tariff battle.

Team Trump said China would agree to purchase a not yet agreed upon, but very substantial, amount of farm, energy, industrial and other products from the US.

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