Trump Believes China Trade Deal to Come

There's no 'pot of gold' at the end of a trade war with China

It's still unclear, though, how much Xi's pledges will help defuse the trade tensions between the two sides.

Despite warnings from key allies, members of his own party and economic experts, President Donald Trump further escalated his tariffs confrontation with China by ordering his chief trade negotiator to consider imposing tariffs on an additional $100 billion of products.

During an eagerly awaited speech at a development conference on the tropical Chinese island of Hainan, Xi billed the planned cut in vehicle tariffs and a series of other measures as "a new phase of opening up".

At the same time, Kudlow questioned whether the tariffs threatened by Trump would actually be imposed, echoing a sentiment he and other White House officials have held since last week when trade war jitters sent markets tumbling.

Beijing imposes tariffs on USA imports worth around $3 billion, including a 15% duty on 120 American products including fruits, nuts, wine and steel pipes and a 25% tax on eight others, like recycled aluminum and pork.

The Chinese leader promised to encourage "normal technological exchange" and to "protect the lawful ownership rights of foreign enterprises".

A USA soldier walks on a newly installedbase, near the tense front line between the U.S-backed Syrian Manbij Military Council and the Turkish-backed fighters, in Manbij, north Syria, Wednesday, April 4, 2018. Trump has called on Beijing to ease trade barriers "because it is the right thing to do".

The stock market enjoys a day of gains as investors warm to the idea that most of the back-and-forth between Beijing and Washington is nothing but talk.

"Clearly, he prefers a cool-headed approach toward the dispute", said Larry Hu, a China-focused economist at investment bank Macquarie Capital.

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"We're seeing a realignment of trade", largely because the politics is driving up Brazilian soybean prices, said Jack Scoville, analyst with the Price Futures Group.

Also Tuesday, China filed a WTO challenge against Trump's earlier tariff hike on steel and aluminum in a separate dispute. Last year, the U.S. exported $130.4 billion worth of goods to China and imported $505.6 billion from China, according to the U.S. Census. "The Chinese can say whatever they want, they can bluff, but they don't have the economic power to deal with the United States".

Trump made his announcement after United States of America markets had closed. Ruan spoke at a discussion on the China-U.S. trade relationship sponsored by the Chinese Embassy in Washington.

Commerce Secretary Wilbur Ross on Monday said the USA will no longer tolerate trade practices that it considers unfair.

Chinese regulators announced that intention in November, just after Trump ended a high-profile visit to Beijing, but gave no timeline or details.

China, the world's biggest steel exporter, calls the tariffs "a serious attack" on global trade and says it will take "firm action" if Chinese businesses suffer losses as a result.

"When a auto is sent to the United States from China, there is a Tariff to be paid of 2 1/2%".

China expresses "strong dissatisfaction" over the decision, adding that it "aggravates the global trade environment". China reported a global trade surplus of $423 billion past year - about two-thirds of that with the United States.

China's President, Xi Jinping, speaks with Austria's President, Alexander Van der Bellen (not pictured), during their meeting at the Great Hall of the People in Beijing, China April 8, 2018.

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