China-US trade: China vows speedy action on trade commitments

China-US trade: China vows speedy action on trade commitments

China-US trade: China vows speedy action on trade commitments

Trump later said he did not want "to sound naive or anything", but he believes Chinese President Xi Jinping "meant every word of what he said at our long and hopefully historic meeting" at last week's G-20 summit in Argentina.

President Donald Trump threatened Tuesday to slap more tariffs on China if efforts to strike a trade deal with Beijing crumble.

But the mood has quickly soured on scepticism that the two sides will be able to reach a substantive deal on a host of highly divisive issues within the tight negotiating window.

Trump has threatened to impose tariffs worth a further $US200 billion on Chinese imports unless China makes it easier for United States companies to do business there. In May, Trump disavowed a joint statement the two countries agreed to in Beijing that made vague pledges for China to buy more agriculture and energy exports.

"We don't yet have a specific agreement on that, but I will just tell you as an involved participant, we expect those tariffs to go to zero", Kudlow told Politicoreporter Megan Cassella about Trump's auto tariff claim.

Mr Trump said this week on Twitter that Beijing had agreed to "reduce and remove" tariffs the 40% tariffs it places on U.S. cars.

That optimistic tone contrasted with Chinese criticism of Canada's arrest of an executive of technology giant Huawei who a Toronto newspaper said is accused by the United States of trying to violate trade curbs on Iran.

His "tariff man" declaration also contradicts assertions made by the White House that Trump preferred a deal to tariffs.

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The clock started ticking on December 1, when Trump met in Buenos Aires with China's leader Xi Jinping and agreed to work towards an agreement to roll back the exchange of tariffs on hundreds of billions of dollars in two-way trade.

According to the White House, China has agreed to buy a "very substantial" amount of agricultural, energy, industrial and other products from the U.S. to reduce a yawning trade gap, as well as to negotiate over Washington's assertions that Beijing steals American technology.

In Brussels, Secretary of State Mike Pompeo told assembled leaders: "China's economic development did not lead to an embrace of democracy and regional stability; it led to more political repression and regional provocations".

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

Officials from the United States and a number of other major economies have often criticized China for its slow approach to negotiations and not following through on commitments.

"China is full of confidence in reaching an agreement within the next 90 days", the spokesman said. "President Xi and I want this deal to happen, and it probably will", he said. The sentiment is that Trump intentionally oversold his "accomplishments", which are at odds with what other members of his administration are saying. "China is supposed to start buying Agricultural product and more immediately".

Adding to skepticism of the deal were reports that Trump has chosen trade hawk Robert Lighthizer to head negotiations with Beijing.

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