Trump To Delay March 1 China Tariffs Amid Trade Talks

Trump To Delay March 1 China Tariffs Amid Trade Talks

Trump To Delay March 1 China Tariffs Amid Trade Talks

Trump tweeted the progress involved "intellectual property protection, technology transfer, agriculture, services, currency, and many other issues", without offering details.

"The extension of the latest round of negotiations and the delaying tariff increase on Chinese imports testify to the sincerity, high attention and sense of urgency of both the Chinese and USA sides", Xinhua reported.

"Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement", Trump wrote, celebrating what he called "a very good weekend for U.S. & China!".

A US business official in China says majority of its member companies want the United States to keep tariffs on Chinese goods, while Washington and Beijing try to hammer out a deal to end a months-long trade war. Problem is, we don't have any more details than that.

Another 43 percent advocated maintaining tariffs at 10 percent and delaying the increase for 60 days while negotiations continued, the chamber said at a briefing on its annual China business climate survey.

On Twitter, Trump said the two sides had made headway on issues including protection of trade secrets, forced technology transfer and US agricultural sales to China.

The official Xinhua news agency used nearly the exact same language, reporting "substantial progress" on those thorny issues in the talks led by Xi's top trade negotiator, Vice Premier Liu He.

The two nations met for a seventh round of talks last week, the third in a month, to try to make headway.

ENERGY: U.S. crude oil gained 2 cents to $55.50 per barrel in electronic trading on the New York Mercantile Exchange.

It's better than the alternative, which is to make production practically impossible here in the US via the Green New Deal, incentivizing factories and growth elsewhere including China and making Americans even more dependent on imports. S & P 500 e-mini futures ticked higher after Trump's tweets on trade, suggesting Wall Street would open on positive footing on Monday morning. Then we came back and the one father said, 'Well we don't know that Trump helped. US negotiators are pushing for much broader changes. "But they also think that maybe the tariffs have done some good in provoking very serious negotiations between the two sides", Stratford told Reuters earlier.

National Association of Manufacturers chief executive Jay Timmons urged Trump to press ahead "with a rules-based agreement that ends (China's) intellectual property theft and other significant unfair trade practices".

Beijing has reportedly proposed a significant increase in its imports of U.S. energy and agricultural exports.

Sabri Ben-Achour: We know what the USA wants. "A very good weekend for U.S. and China!"

China's official Xinhua news agency said in a commentary that the goal of an agreement was getting "closer and closer", but also warned that negotiations would get more hard as they approached the final stages. Trump was too, which is why they got along and likely why Trump wanted Lighthizer as his point man on trade.

Related news