Sceptics doubtful of trade breakthrough amid China-US truce

DEVELOPING: US-China trade uncertainty fuels market plunge

"US President Donald Trump on December 5 said he believed Chinese President Xi Jinping was being honest at their meeting on trade and that Beijing had been sending "strong signals" since then".

"Very strong signals being sent by China once they returned home from their long trip, including stops, from Argentina", he wrote.

The US president a day earlier had said the ceasefire could be extended but warned tariffs would be back on the table if the talks failed and that he would only accept a "real deal" with China.

'We will start with agricultural products, energy, automobiles to immediately implement the issues that the two sides have reached consensus, ' Gao said, when asked about what is on the negotiation agenda.

"Global demand for USA red meat is very strong, but exports can not reach their full potential until the retaliatory duties imposed by Mexico, China and Canada are removed", he said.

China's government isn't yet able to formulate its response to the summit on trade with Trump as senior officials are still out of the country with Xi this week, according to three officials who were briefed but declined to be named as the matter isn't public. But in setting a short timeline (90 days) for the two sides to negotiate issues that have proved intractable in the past, and by reportedly appointing Lighthizer to lead the talks, Trump gave succor to those in the administration with an understandably jaundiced view of Beijing's past commitments to change its ways.

China expressed confidence on Wednesday that it can reach a trade deal with the United States, despite fresh warnings from President Donald Trump that he would revert to more tariffs if the two sides cannot resolve their differences, Reuters reports.

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"If it is, we will get it done", Mr Trump said in a Twitter post.

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.

Mr Trump said this week on Twitter that Beijing had agreed to "reduce and remove" tariffs the 40% tariffs it places on United States cars. -China relationship now as both view each other more as a competitor than a strategic partner in trade and economics.

China has said it will immediately implement measures agreed under a trade war "truce" with the US.

In Brussels, Secretary of State Mike Pompeo told assembled leaders: "China's economic development did not lead to an embrace of democracy and regional stability; it led to more political repression and regional provocations".

Chinese officials have commenced preparations to resume imports of US soybeans and liquefied natural gas (LNG) following the meeting between the two Presidents over the weekend where China agreed to enhance its imports from the U.S. There has also been confusion just on the U.S. side, with the White House, Mr Trump and his advisers making conflicting statements as to the details of a deal.

The comments by the president and his top advisers over the past 48 hours have only added to China's confusion about their negotiating partners. And China has not confirmed that it made most of the concessions that the Trump administration has claimed. "When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so", he added.

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