Trump Claims New Accord with China on Trade Negotiations

  • Trump Claims New Accord with China on Trade Negotiations

Trump Claims New Accord with China on Trade Negotiations

He said they expect to see a big increase — 35 percent to 45 percent this year alone — in usa farm sales to China.

Recall that this trade spat started with the Trump administration threatening large tariffs on imports from China, a threat the President himself made frequently and vigorously on the campaign trail, and after taking office, arguing (erroneously) that this would reduce the United States' "massive" US$375 billion (S$505 billion) trade deficit with China.

If there is success in the U.S.

Beijing and Washington said they have agreed to keep talking about measures under which China would import more US energy and agricultural commodities to narrow the $335 billion annual USA goods and services trade deficit with China.

Last Saturday's pledge by the U.S. and China to stop slapping tariffs on each other, thus averting a "trade war", hides the fact that China is the unequivocal "winner" of this round of bilateral trade negotiations.

Stocks on Wall Street surged as reduced US-China trade tensions spurred demand for industrial companies.

"Chinese r laughing at us again", he said in a tweet.

"You might as well have Hank Paulson doing this", said Bannon, who is traveling to Italy this week to meet with Matteo Salvini of the Northern League about the populist party's electoral success. "We just kind of understand this is politics in play".

U.S. stocks climbed on Monday after the United States and China put their trade differences "on hold" to work on a wider agreement, while sentiment was also buoyed by the almost $28 billion worth of merger activity.

"The Chinese would be more than happy to give up their trade surplus", says Robert Atkinson, president of the Information Technology and Innovation Foundation think tank. "We're still trying to get a new deal done". The article also noted that at first blush it looks like the Chinese concession seems to be a US win; however, it said it was a "win-win" development.

While the global economy remains robust and first-quarter earnings have been strong, stock markets have mostly traded sideways this year because many investors have started to fear the pace of the expansion has already peaked. "We had seed bought, fertilizer bought".

Commerce Secretary Wilbur Ross will work out those details during a future trip to China, Mnuchin said.

On Friday, China dropped an anti-dumping investigation into US sorghum that had raised costs for buyers of the grain.

And while Treasury Secretary Steven Mnuchin predicted big increases in agriculture and energy related sales to the Chinese market - moves that could benefit Louisiana farmers and businesses - trade experts said it's too soon to know what will happen.

"We may be not quite so aggressive now because China could come back as a huge buyer", he said. Not all U.S. business leaders welcomed the trade war truce, with some cautioning that Washington would find it tough to rebuild momentum to address what they see as troubling Chinese policies.

In addition to the trade truce, Wall Street indexes rose on news of $28 billion in USA merger deals.

Late last week, American and Chinese officials met for bilateral trade talks in Washington.

In the world of crude, the U.S. needs China more than China needs the U.S. The Asian nation is helping drive a surge in exports from the U.S., increasing purchases previous year to 224,000 barrels a day, up from just 1,000 in 2015, when Washington lifted restrictions on exports.

For further clues on the path of USA rate hikes, investors will eye minutes from this month's Federal Open Market Committee meeting, due for release on Wednesday, as well as comments from Fed Chair Jerome Powell, who is set to speak in Stockholm on Friday.