Trump says China trade talks ‘going very well’

I’m an Asset Man Myself Trump Proclaims Himself a ‘Tariff Man

President Donald Trump, right, has dinner with China's President Xi Jinping, left and members of their delegation at the end of the G20 Leaders' Summit in Buenos Aires, Argentina, Dec. 01, 2018.

"The ultimate goal for the 90 days of talks is to remove all the increased tariffs", Gao said.

After the meeting, Washington agreed to hold off on Trump's threat to raise tariffs on $200 billion in Chinese imports to 25 percent beginning January 1, leaving them at the current 10 percent rate.

While at the conclusion of Saturday's working dinner, both the US and Chinese delegations said that what amounted to a trade war "truce" between the leaders had been reached, the messaging from the White House that followed seemed to only muddy the waters.

His comments come as the arrest of a top executive of Chinese tech giant Huawei [HWT.UL] by Canadian authorities, on Washington's request, threatens to spark a flare-up in tensions between the world's two economic powerhouses once again.

China and the US have highly overlapping interests in economic and trade issues and share complementarity in structural demands, MOC spokesman Gao Feng told a press briefing.

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

"China and United States have reached very important consensus as both sides' interests overlap", Gao said.

US Trade Representative Robert Lighthizer will lead the talks to see "whether or not a REAL deal with China is actually possible", Trump tweeted on Tuesday.

But global markets have been nervous about the prospects of a Sino-U.S. trade dispute spilling over to growing rivalry between both sides in areas such as technology, and many economists have remained cautious about being too optimistic on a temporary truce.

The Washington Post reported, though, that tariffs on USA cars had only been raised earlier this year in response to Trump's trade war escalation.

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