Trump says China trade talks to end March 1 'unless extended'

Mae Love
December 7, 2018

Trade experts have said 90 days is scant time for resolving sprawling conflicts over technology, state industries and other issues that have bedeviled U.S.

China on Thursday expressed confidence in striking a trade deal with the United States within their 90-day ceasefire period, praising the recent meeting between U.S. President Donald Trump and Chinese President Xi Jinping as highly successful.

Few details have been made public about what the two sides will negotiate, a lack of clarity that has unsettled stock markets.

The two sides also will discuss intellectual property protection, technical cooperation, market access and their trade balance, Gao said.

But the spokesman did not provide more specific details about what actions China would take.

The White House said that the U.S. has agreed that the tariffs on $200 billion worth of product will remain at 10% until January 1st 2019 and that China "will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries".

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WASHINGTON, USA - US President Donald Trump said Tuesday, December 4, the talks to resolve the trade dispute with China had begun already and would last for 90 days unless they were extended.

The White House has said China agreed to purchase a "very substantial" amount of agricultural, energy, industrial and other products to reduce the trade gap.

"China has been expanding imports over the years in order to meet the Chinese people's demand for better lives and high-quality development", he said, adding that after reaching preliminary consensus on trade issues of farm produce and energy during the previous consultations, the two sides will continue to hold consultation on these issues plus manufactured goods and service trade.

Trump added China would roll back tariffs of 40% on cars.

While Trump has long championed the tariffs, even referring to them as "the greatest", they are ultimately a tax on American consumers that raise the cost of goods.

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