China promises prompt action on US trade pact

07 December, 2018, 23:47 | Author: Eric Barnett
  • US trade deficit with China expands

China and the US will work on intellectual property rights protection, technology cooperation, market access issues and the trade balance in the next 90 days, Gao said, adding that China's goal is to remove all new tariffs within that period.

Asked to confirm whether Beijing promised to buy American goods immediately, Gao said China will "immediately implement the consensus reached by the two sides on farm products, cars and energy".

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

China's President Xi Jinping and US President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on 9 November 2017.

In return, Washington said China would purchase "very substantial" amounts of U.S. agricultural, energy, industrial and other products.

US President Donald Trump and Chinese President Xi Jinping agreed on 1 December on a truce in their escalating trade war during their meeting on the sidelines of the G20 summit in Buenos Aires, Argentina.

As part of the truce, Trump agreed to hold off on plans to raise the tariffs on $200 billion in Chinese imports to 25% beginning 1 January, leaving them at the current 10% rate.


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 is full of confidence in reaching an agreement within the next 90 days", the spokesman 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.

Trump also warned this week of more tariffs if the two sides could not resolve their differences.

China is fully confident that it can reach a trade deal with the US within the 90 days set for talks, Gao said.

Asked about Trump's statement that Beijing would cancel tariff hikes on USA -made autos, Gao referred reporters to the Cabinet's tax commission.

Recommended:



Popular

Sean Dyche Slams Liverpool for 'Cheating' During Reds' Win Over Burnley
But he says Liverpool must beat Bournemouth to pile the pressure on them should they slip up on Saturday evening. I expect them to edge this one, too - but Bournemouth can't be underestimated this season.

Pakistan's Shah fastest to 200 Test scalps
Their last was a Williamson-inspired 2-1 victory over the West Indies in 2014, and before that you go way back to England in 1999. On Day four in Abu Dhabi, Yasir has been extremely consistent with his lines, attacking the stumps in the 3rd innings.

Deontay Wilder broke arm before Tyson Fury boxing bout
Showtime Sports President Stephen Espinoza said May or June might be more likely, giving the fighters more time to recover. Fury wasn't asked about the pledge following his controversial draw with Wilder.

German conservatives to replace Merkel with Annegret Kramp-Karrenbauer as party head
Regardless of which course the CDU charts, it is ironically the SPD that could decide Merkel's fate. The victor will likely lead the CDU in the next federal election due by October 2021.

'Phony' Russian probe a 'witch hunt' and presidential harassment: Donald Trump
Friday, Trump was in the White House residence attacking Mueller on Twitter. "It could be a big day". So far, more than 30 people have been charged or pleaded guilty in Mueller's investigation.

Republicans rush to limit power of incoming Democratic governors
The bill would also give lawmakers, rather than the attorney general, the power to decide how to spend settlement money. Republicans who control the Wisconsin Assembly have passed a lame-duck bill enacting a Medicaid work requirement.

‘PUBG Mobile’ tops Google Play’s games of the year
That was just one of the technique, they had several other methods and did them without obtaining the user consent. BuzzFeed also named another app studio, Kika Tech, as a group involved in the same activity.

China vows quick action on USA trade promises: 'The sooner the better'
Keane also said that the Chinese leader intends to overtake the United States as a global leader in the world. Trump has agreed to delay a rise in tariffs on China while talks continue.

This is the reason Arsenal chose Unai Emery over Mikel Arteta
A Marcos Rojo own goal then put the visitors ahead once more before Lingard struck to salvage a point for United. The Gunners are now in fifth place in the Premier League table and 10 points behind leaders Manchester City.

Lakers! LeBron James wants more context before responding to Kevin Durant's remarks
LeBron is a player that needs to play with guys that already know how they play the game - and shooters. The Lakers are 15-9 this season and James is averaging 28.4 points, 7.6 rebounds and 6.6 assists.