Published: Fri, December 07, 2018
Money | By Ralph Mccoy

China vows quick action on U.S. trade promises: 'The sooner the better'

China vows quick action on U.S. trade promises: 'The sooner the better'

The China Daily also published a commentary on Tuesday noting the 90-day period, explaining it was a truce and saying the USA would likely escalate the trade war if no permanent deal was achieved.

The leaders attended the G-20 summit in Buenos Aires, Argentina.

We will remind, the President of the United States Donald trump and Chinese President XI Jinping, on the sidelines of the G20 summit have agreed not to impose additional duties from 1 January 2019.

"I think this is more about delaying the inevitable as much as [the Chinese] possibly can", Keane, a Fox News senior strategic analyst, said. China has placed a 10 percent tariff on U.S. -LNG imports with the threat of increasing that figure in the future, resulting in China having to find alternate sources of the super-cooled fuel on the spot market. "Take that step and see if they can make more progress, I think, is likely where [Trump] is coming from".

In a Sunday editorial in Chinese, the Global Times noted that the agreement struck between Presidents Xi Jinping and Donald Trump in Argentina on Saturday was temporary.

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Beijing will "immediately implement" terms of a tariff ceasefire with Washington and is "full of confidence" a trade agreement can be reached within 90 days, a Chinese government spokesman has said.

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Such a move would have led to further tariffs on imports from the U.S.to China and vice-versa. Not to sound naive or anything, but I believe President Xi meant every word of what he said at our long and hopefully historic meeting.

'We are either going to have a REAL DEAL with China, or no deal at all - at which point we will be charging major Tariffs against Chinese product being shipped into the United States, ' he wrote Tuesday in a tweet that sent stocks tumbling.

He had earlier also indicated that the deadline for an agreement could be extended. Very good things will happen.

White House trade adviser Peter Navarro on the trade truce between the US and China.

The 90-day timetable started Saturday and will stave off a round of tariffs on Beijing that were scheduled to go into effect on January 1, the White House said on Monday.

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

According to agreement, China agreed to buy a "very substantial" amount of agricultural products, industrial, energy and some others too from the USA in order to reduce the trade gap in-between countries, and also China agree to purchase farm products "immediately" from U.S., the White House said.

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