China media lauds 'momentous' trade truce but questions linger
04 December, 2018, 00:36 | Author: Kathy Ellis
There was no immediate USA confirmation of the outcome of the talks, but Chinese state TV said: "No additional tariffs will be imposed after January 1, and negotiations between the two sides will continue".
The healthy increases paved the way for sharp rises on European and United States exchanges later on Monday with futures trade seeing the FTSE100 opening up by 1.6% and the Dow Jones industrial average on Wall Street expected to leap 2%. Farmers, I LOVE YOU!' he tweeted.
Trump went on to praise what he said was his "very strong and personal relationship" with Xi.
This saw China retaliate with 10 percent tariffs on $60 billion (£46 billion) of USA imports.
It is also likely good news for the stock markets in the US and China after both countries - but especially China - have taken a beating in the past few months because of this fight.
William Zarit, chairman of the American Chamber of Commerce in China, said the vehicle announcement, if confirmed, was "certainly movement in the right direction, and hopefully a sign of more things to come".
Under the agreement, Trump is shelving a plan to raise tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent from the start of next year - but the hike will kick in if negotiators fail to reach a final deal within 90 days.
The mercurial USA leader was effusive on the meeting with Xi, telling reporters on Air Force One that China has agreed to immediately buy "tremendous amounts of agricultural and other product" and this will have an "incredibly positive impact on farming".
"Mnuchin said China had agreed to make "big, long-term commitments" to purchase US liquefied natural gas", provided that the United States builds sufficient export terminals.
We're quitting OPEC in 2019
Qatar was the first nation outside of its founding members to join the cartel, entering its ranks in 1961. However, Qatar has denied all the claims.
The Great Leap Forward was a cornerstone of Chairman Mao Zedong's move toward a socialist economy by requiring farmers to "collectivize" their property and operations, and by forcing farm workers to take industrial jobs.
China's official statement underlines that no higher tariffs will be imposed on January 1, 2019, but it does not mention the 90-day deadline.
USA officials for years have been pressing the Chinese government to take a tougher stance against fentanyl, and most US supply of the drug is manufactured in China.
Politically, even if the details of what the two leaders agreed to remain murky, the president is returning to Washington one step closer to a new North American trade pact and at least a Chinese commitment for a deal between the world's largest economies.
"It's great the two sides took advantage of this opportunity to call a truce", said Andy Rothman, investment strategist at Matthews Asia.
BMW rallied the most in more than three years while Volkswagen amd Daimler also advanced.Chinese carmaker shares pared gains, while shares of auto dealerships in China and Hong Kong rallied on Trump's tweet. And China's leader will likely expect compromise on complex territorial issues like Taiwan or the South China Sea before the ceasefire will begin to look like a full-fledged peace accord.
Worries about the economic impact of the tariffs have pushed stock markets lower in recent months.
China also launched a nationwide campaign to protect foreign firms' worldwide property rights in 2017. Asked about the alleged changes to auto tariffs, foreign ministry spokesman Greng Shuang declined to comment, according to reports from China.
Despite the loss of mobility, Bush celebrated his 90th birthday by taking part in a tandem parachute jump in Kennebunkport, Maine. There's a mock situation room where you can make critical decisions, as President Bush did before the Gulf War in the early 90's.
Trump, who was seen passing by MBS and Putin without interacting with either, is not expected to meet with the crown prince . Mattis spoke after he and Secretary of State Mike Pompeo briefed senators on the U.S. response to Khashoggi's killing.
He added that Cohen "is not a very smart person". "It's called flipping and it nearly should be illegal", Trump said. He is far from the first person to be ensnared by the Mueller probe for making false statements thus far.
Earlier this week, Priyanka and Nick revealed details about how the two, who share an 11-year age difference, came to be. They will follow up Saturday's ceremony with a Hindu wedding the following day, to celebrate Priyanka's heritage.
Trump and Xi were scheduled to meet on Saturday to discuss trade amid increasing tensions between the world's top two economies . Another official said Navarro's addition was meant to send a message to China about the administration's resolve on trade.
New Zealand play the US, Spain and Wales in Pool C, and England, Australia, Canada and Japan feature in Pool D. The New Zealand men's and women's teams have also won Commonwealth Games gold and World Cup gold this year.
That may give the kingdom a narrow path between provoking the president's wrath and preventing an even deeper oil-price slump. The outcome of next week's OPEC meeting "remains clouded by uncertainty", said Stephen Brennock of oil broker PVM.
Bridenstine said he has spoken with Musk recently that he does not want Nasa contractors engaging in questionable behaviour. Nasa wants to see how it goes at the moon before committing to commercial delivery services at Mars.
Trump also tweeted about the situation Wednesday, suggesting the USA should consider imposing tariffs on imported cars . Jawboning aside, Trump was unable to stop job losses at a Carrier Corp. air-conditioning plant in Indianapolis.
These are the final colorful socks worn by late President Bush
On Monday, President Trump tweeted , "Looking forward to being with the Bush Family to pay my respects to President George H.W. Bush, will be traveling with Bush's casket on his flight to Washington, DC, according to a source familiar with the plans.
Pakistan, India Move to Open Historic Border Crossing for Sikhs
However, he added that "unless better sense prevailed in India, we may have to wait for Sidhu to become (India's) Prime Minister". PM Imran Khan said that looking at the past yields no results and he is not accountable for what transpired in the past.
Former US President George H.W. Bush dies aged 94
Before getting the keys to the White House, he served eight years as the vice president of Republican icon Ronald Reagan. In a statement from his office, Bush was described as a naval aviator, oil pioneer and the nation's 41st president.