Trade Talks With China To End On March 1 Unless Extended
- Sandy Mccarthy
In his latest Twitter storm, Trump said that his team of negotiators was still "seeing whether or not a REAL deal with China is actually possible", adding that China is "supposed to" start buying more United States agricultural products "immediately".
"Very strong signals being sent by China once they returned home from their long trip, including stops, from Argentina".
Hours later, Bloomberg News reported that officials have begun preparing to restart imports of USA soybeans and liquefied natural gas -the first sign confirming the claims of Trump and the White House that China had agreed to start buying some USA products "immediately".
"It hasn't been signed and sealed and delivered yet", said White House economic adviser Larry Kudlow, who added later in the day that "I have no assurances" China will change its trade behavior.
Chinese officials have said they are "confident in implementing" trade commitments made to the USA "as soon as possible", without giving details.
In a "supremely ironic" move, China may even seek to negotiate entry to the TPP-11, which was originally conceived by the Obama Administration as part of pivot to Asia, and which may end up including China but not the US itself, he said.
Beijing will start to quickly implement specific items where there's consensus with the U.S. and will push forward on trade negotiations within the 90-day "timetable and road map", the Ministry of Commerce said in a statement on Wednesday morning in China.
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White House national security adviser John Bolton, who also attended the Saturday meeting, said the verdict was still out on what China would ultimately do.
Instead, the two sides are to negotiate over USA complaints about China's trade practices, notably that it has used predatory tactics to try to achieve supremacy in technology.
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.
But the USA leader kept up the threats as he warned that he was ready to make China "pay for the privilege" of selling in the USA market if the negotiations fail. If China cracks down on this 'horror drug, ' using the Death Penalty for distributors and pushers, the results will be incredible!,' Trump wrote in a pair of tweets. Trump has not promised to lift all tariffs against Chinese goods.
"There are strong views in Japan that if China is honest about rapprochement with Japan, while respecting relevant World Trade Organisation rules based on scientific evidence, China should significantly speed up the process towards lifting the restrictions against Japanese goods and products", the source said.
Global financial markets sank to one-week lows on Wednesday amid the renewed trade concerns, extending Tuesday's slide.
"Officials now face the hard task of fleshing out a deal that is acceptable to the Chinese but also involves significant enough concessions not to be torpedoed by the China hawks in the Trump administration", Capital Economics said in a note this week, adding that higher tariffs could simply be delayed.
"Let the negotiations begin", Trump wrote on Tuesday. "It's just madness", one anonymous former official told The Post on Tuesday. The statement did not mention Trump or Xi, however the state news agency Xinhua later said the ministry statement was hailing their meeting.
The White House's press release said that the People's Republic "will agree to purchase a not yet agreed upon but very substantial, amount of agricultural, energy, industrial, and other products".
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