Trump Says Trade Talks With China 'Going Very Well'

Ivan Schwartz
December 7, 2018

US President Donald Trump said in a Twitter statement on 7 December that the trade talks between Washington and Beijing are proceeding well.

Talks during the 90 day period during which President Donald Trump has agreed to suspend USA tariff hikes will start by focusing on farm goods, energy and automobiles, said a Ministry of Commerce spokesman, Gao Feng.

President Donald Trump agreed Saturday to postpone USA tariff hikes in a fight over Beijing's technology policy by 90 days while the two sides negotiate.

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. Since then, the two countries have exchanged several rounds of trade duties on hundreds of billions of dollars' worth of goods. "In the next 90 days we will work in accordance with the clear timetable and road map to negotiate in areas where both sides have an interest and there are mutual benefits, such as intellectual property rights protection, technology cooperation, market access, and the trade balance".

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 trade gap.

"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.

On Tuesday, Trump tweeted about the potential for a deal with China, before warning that if a deal wasn't reached in 90 days he would slap more tariffs on China because he was "a Tariff Man".

China has indicated that it is confident it can strike a lasting trade deal with the United States.

The Trump administration has imposed tariffs on Chinese...

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