Trump signals that he's open to longer China talks

Trump signals that he's open to longer China talks

Trump signals that he's open to longer China talks

The disarray surrounding the China deal coincides with a global economy that faces other challenges: Britain is struggling to negotiate its exit from the European Union. In his Twitter posts on Tuesday, Trump said they might need an extension if the 90-day timeline didn't prove sufficient.

That includes more purchases of USA farm products, which Trump - seemingly trying to remind Xi - has said will begin "immediately".

This is a much different characterisation of the China talks than just three days ago, when Trump had dinner with China's president at a meeting of the Group of 20.

In a subsequent tweet, Trump said he would "happily sign" a "fair deal" that addresses USA concerns, should one be reached with Beijing.

The president added: "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. It will always be the best way to max out our economic power". For months, the two countries have engaged in tit-for-tat increases in tariffs on hundreds of billions of dollars of exports flowing between the two countries. "MAKE AMERICA RICH AGAIN", Trump tweeted Tuesday morning.

"But if a fair deal is able to be made with China, one that does all of the many things we know must be finally done, I will happily sign". In September, Washington went still further and announced 10 percent import duties on $200 billion worth of Chinese goods.

"The trade war between the United States and China has been put on hold for the holidays, but the respite will be brief given the 90-day deadline and inherent difficulty in addressing the fundamental factors driving trade tensions between the two countries", he said.

Meanwhile, Washington has already engaged in talks with Beijing amid a détente in the trade conflict, President Trump wrote on Twitter. Trump said on Tuesday that Lighthizer would work closely with Mnuchin, Kudlow and trade adviser Peter Navarro.

On Tuesday, President Trump has declared himself a "Tariff Man" in tweeting about the state of progress with China, doubling down the threat to raise tariffs on Chinese goods if a deal isn't solidified.

But Kudlow said the ultimate amount will depend on market prices and the health of China's economy.

Investors had initially welcomed the truce that the administration said was reached over the weekend in Argentina between Presidents Donald Trump and Xi Jinping - and sent stocks up Monday. Unlike previously, the USA president referred to the outcome of the meeting as "a big leap forward".

"It's an incredible deal", Trump told reporters after the dinner.

On Monday, Kudlow said there was an "assumption" that China would eliminate auto tariffs, not a specific agreement.

On Monday, influential Chinese tabloid the Global Times said it understood China and the United States will further discuss moves at expanding market access, intellectual property protection, avoiding compulsory technology transfers, and joint control of cyber crime.

President Donald Trump underscored that point on Tuesday.

Instead, Kudlow said a proposed gesture to reduce auto tariffs to zero would serve as a "litmus test" on China's commitments to fulfill a broad strokes agreement reached between the two leaders.

A White House official said it started on December 1.

This makes it unlikely that China will openly commit to reforms in this area, which means any movement on this is likely to happen behind the scenes.

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