Xi, Trump reach important consensus, chart course for bilateral ties

Xi, Trump reach important consensus, chart course for bilateral ties

Xi, Trump reach important consensus, chart course for bilateral ties

Trump agreed to hold off on his threat to slap 25 per cent tariffs on US$200 billion worth of Chinese goods from Jan 1, leaving them at the current 10 per cent rate. They include forced technology transfer, intellectual property protection and cyber crimes, according to the White House statement.

By agreeing to a 90-day ceasefire and freezing new White House-planned tariffs to allow for a series of talks to take place on a range of key issues, the early foundations of a deal have been laid.

The announcement comes a day after Trump sat down with Chinese President Xi Jinping at the G20 Summit in Buenos Aires, Argentina for negotiation talks and dinner. It does, however, include some points not included in the USA statements, such as that the two sides agree to boost market access and will work toward scrapping all tariffs.

The outcome gives both sides enough to boast of a win without resolving the fundamental differences between them.

'China is willing to increase imports in accordance with the needs of its domestic market and the people's needs, including marketable products from the United States, to gradually ease the imbalance in two-way trade'.

China "is open to approving the previously unapproved" deal for US company Qualcomm Inc to acquire Netherlands-based NXP Semiconductors "should it again be presented".

Wang added that both countries will work toward removing all the tariffs that have been introduced and producing a mutually-beneficial agreement.

"If they cancel the extra 25 percent tariff on USA -made cars, then we will see positive signs for imported cars", said director of the China Automobile Dealers Association's import committee, Wang Cun, according to Reuters. While the USA and China have agreed to negotiate, China appears unlikely to fundamentally alter its policies, and it is unclear whether Trump will be satisfied with a deal that falls considerably short of his demands. The tariffs will remain at 10 percent.

"It was a great and productive Meeting with unlimited possibilities both for the United States, as well as for China", Trump quoted in the message of the White house.

But Trump insisted that the United States was continuing to force China to make important concessions. "But the details of that still need to be negotiated", Mnuchin told CNBC.

As part of the deal, China also agreed to start purchasing agricultural products from USA farmers immediately, the White House said.

Gen. Jack Keane said Monday on "The Story" that he's in favor of the truce agreed upon between the US and China, but "it remains to be seen" what results it will yield.

China has agreed to start purchasing agricultural products from our farmers immediately.

Through a translator, Mr. Xi said that "only with cooperation between us can we serve the interest of global peace and prosperity and that is why I look forward to this meeting".

President Trump ended by saying he hopes, in the near future, President Xi and Russian President Putin can get together with him to discuss ending the uncontrollable arms race.

"The relationship is very special", he said.

While Washington touted the immediate increase in Chinese purchases of United States agricultural products, Beijing's statement was much more open, with no reference to immediate or agricultural products.

Recommended News

  • Administration Vows to Prosecute Future Border Violence

    Administration Vows to Prosecute Future Border Violence

    USA authorities are working on a new system to better record evidence if similar circumstances arise, the official said. A six-hour period during which US officials were forced to close the border crossing cost his city $129 million pesos.
    G20: Trump and Xi to meet amid US-China trade tensions

    G20: Trump and Xi to meet amid US-China trade tensions

    The officials spoke on condition of anonymity because they weren't authorized to speak publicly about the closed-door discussions. Secretary of State Mike Pompeo, however, separately met with Saudi Foreign Minister Adel al-Jubeir, the State Department said.
    Netflix Cancels DAREDEVIL... But MARVEL Has Plans For His Future

    Netflix Cancels DAREDEVIL... But MARVEL Has Plans For His Future

    Another option is Daredevil (and other cancelled shows like Luke Cage ) could be resurrected in their current form on Hulu. At the moment, the only series remaining in the Netflix-Marvel relationship are " Jessica Jones " and " The Punisher ".
  • Forbes’ top-earning YouTuber is a seven-year-old vlogger reviewing toys

    Forbes’ top-earning YouTuber is a seven-year-old vlogger reviewing toys

    That is exactly double what Ryan made in the previous year, according to Forbes , when he was placed eighth in the 2017 list. The top-earner told NBC News recently, that he believes his success is "because I'm entertaining and I'm amusing ".
    Pep Guardiola asks Gabriel Jesus to keep helping Manchester City

    Pep Guardiola asks Gabriel Jesus to keep helping Manchester City

    Burnley crashed to a fifth defeat in their last six matches and remain in the bottom three after Crystal Palace prevailed 2-0 at Selhurst Park.
    CONMEBOL Come Down Hard On River Plate After Libertadores Fiasco

    CONMEBOL Come Down Hard On River Plate After Libertadores Fiasco

    Meanwhile, Colombia's Junior Barranquilla will play Brazil's Atletico Paranaense in the final of the Copa Sudamericana. Spain's national statistics institute says there are 72,000 Argentines living legally in the European country.
  • Massive beef recall expands to 12M pounds

    Massive beef recall expands to 12M pounds

    An Arizona company is expanding a recall for ground beef to include more than 12 million pounds of raw beef products . Most people recover on their own but those who experience persistent diarrhea may need to be hospitalized.
    Private enterprise will help NASA return to the moon

    Private enterprise will help NASA return to the moon

    Russian space agency Roscosmos recently issued a press release and unveiled their lunar mission plans. That's because Musk, the company's founder, is pursuing to reach the moon and Mars with BFR.
    Fed minutes: Further hike

    Fed minutes: Further hike "warranted soon", debate opened on pause

    In an interview this week with The Washington Post , Trump said he was not happy with Powell's support for further rate hikes. It promises to confirm investor expectations that the Fed will raise its interest rate when it meets later this month.
  • NHL Announces Expansion to Seattle for 2021-22 Season

    NHL Announces Expansion to Seattle for 2021-22 Season

    The NHL Seattle group reached its goal of 10,000 deposits in 12 minutes when a season-ticket drive launched on March 1. Nevertheless, the idea of Pacific Northwest hockey rivalry between Seattle and Vancouver is pretty cool.
    Israeli police recommend PM Netanyahu be charged with bribery

    Israeli police recommend PM Netanyahu be charged with bribery

    In response to the police statement, Netanyahu said, "The police recommendations against me and my wife do not surprise anyone". In a statement, police said the investigation concluded that Netanyahu and Elovitch engaged in a "bribe-based relationship".
    Priyanka Chopra and Nick Jonas Share First Pics From Wedding Weekend

    Priyanka Chopra and Nick Jonas Share First Pics From Wedding Weekend

    The first pictures from the wedding of Priyanka Chopra and Nick Jonas are out now and we can not hold our excitement. On Sunday, the two will participate in a Hindu ceremony, in line with Chopra's upbringing.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.