Trump says China trade talks to end March 1 'unless extended'

Xinhua  Sipa USA  Newscom

The clock started ticking on December 1, when Trump met in Buenos Aires with China's leader Xi Jinping and agreed to work towards an agreement to roll back the exchange of tariffs on hundreds of billions of dollars in two-way trade.

He also said that Xi had promised him that the Chinese government would crack down harder on fentanyl shipments from China to the USA, and tweeted a quote from a Bloomberg story which said that China was ready to restart imports of US products, including soybeans and natural gas.

In Argentina last weekend, Trump and Xi agreed to a truce that delayed the planned January 1 USA hike of tariffs to 25 percent from 10 percent on $200 billion of Chinese goods while they negotiate a trade deal.

While at the conclusion of Saturday's working dinner, both the USA 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.

"China will start from agricultural products, autos and energy to immediately implement specific items that China and the USA have agreed upon", Ministry of Commerce Spokesman Gao Feng told reporters in Beijing.

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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 trade gap. It also would begin buying products from USA farmers "immediately".

The United States has levied additional duties of between 10 percent and 25 percent on $250 billion of Chinese goods this year as punishment for what it calls China's unfair trade practices.

Furthermore, Kudlow seemed to downplay Trump's assertion following the meeting that China agreed to reduce or eliminate its tariffs on American automobiles, telling reporters that there was no "specific" agreement reached.

The daughter of Huawei's founder is facing extradition to the United States, dealing a blow to hopes of an easing of Sino-U.S. trade tensions and rocking global stock markets.

The Trump administration has imposed tariffs on Chinese... -China relationship now as both view each other more as a competitor than a strategic partner in trade and economics.

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