China confident of agreeing USA trade deal despite Trump's combative stance

U.S. President Donald Trump and Chinese President Xi Jinping meet after the G20 in Buenos Aires 1/12/2018

China has said that Beijing and Washington will push forward with trade negotiations in the next 90 days and it is confident that an agreement can be reached but doubts remain over whether the two sides can resolve their deep differences.

At the end of the day, two realities remain: the U.S.is now an energy (oil and gas) producing super power alongside the ranks of Russian Federation and Saudi Arabia, while China, conversely, is the world's largest energy consumer, which gives it less leverage in ongoing trade and even geopolitical negotiations and developments.

The spokesperson did not say specifically what would be included in the agreement, but noted that specifics issues that have reached consensus will be first and foremost.

In the latest Trump-China trade war news, the POTUS has been in talks with China President Xi Jinping to discuss the reduction or elimination of some import tariffs that each president has imposed on the other president's country.

Stocks in the U.S., Europe and Asia fell sharply after Trump declared himself "a Tariff Man" who wants "people or countries" with intentions to "raid the great wealth" of the U.S.

Chinese purchases for the aforementioned products have almost completely halted after Beijing imposed tariffs on them in response to the USA tariffs on Chinese goods.

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A vow by China to reach a trade settlement with the United States has helped settle financial markets after steep falls in USA stocks.

Stocks sank on Tuesday, with the Dow Jones plummeting nearly 800 points, amid concerns about the health of the USA economy and uncertainty about what specifically Trump and Chinese President Xi Jinping had agreed to at the G-20 summit in Argentina three days prior, but US equity futures rose Wednesday after Beijing confirmed the news.

Both sides will immediately hold talks on structural changes concerning forced technology transfers made by Chinese firms on USA companies, intellectual property rights protection, non-tariff trade barriers, cyber intrusion concerns, cyber theft and agricultural, the White House added.

"Narrow agreements and modest concessions in the ongoing trade dispute will not bridge the wide gulf in their respective economic, political and strategic interests", Moody's Investors Service said in a report that predicted U.S.

It did not give further details but it crucially did not contradict the U.S. president's remarks that China would buy more goods from the United States to help close their trade gap and structural changes to intellectual property protection. China's government has yet to issue official comment on those details.

On Wednesday, the Global Times tabloid, which is run by the Chinese Communist Party's main newspaper, said the Trump administration's statements about the deal - including the agreement that China would buy $1.2 trillion in additional US goods - were created to highlight or even exaggerate facets of the deal that benefited the United States. "Chinese society should maintain a calm attitude", it said. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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