Trump signals that he's open to longer China talks

Late Sunday, Trump tweeted that "China has agreed to reduce and remove tariffs on cars coming into China from the U.S. now the tariff is 40 percent".

White House officials have already begun backpedaling on President Trump's claim of an agreement with China to drop tariffs on U.S. cars entering the world's largest automotive market. We saw how that panned out with the North Korean denuclearization talks, where Trump appeared to believe he'd walked away with more than he actually got, so there's reason to be skeptical until more details appear.

"President Xi and I want this deal to happen, and it probably will", Trump wrote.

China offered more than $1.2 trillion in additional commitments on trade at the Xi-Trump dinner, Treasury Secretary Steve Mnuchin said on Monday.

China was already hit with $50 billion worth of tariffs earlier this year. "Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina", Trump said.

"Treasure Secretary Steven Mnuchin acknowledged investors" doubts over the talks' outcome.

It also said China had agreed to start buying farm products from USA farmers immediately.

While the two sides left talks in Buenos Aires, with an upbeat attitude, confusion and a lack of clarity around what exactly Trump and Xi agreed to has left many experts skeptical that a concrete deal can be reached in such a short window.

The changes United States officials have sought include forcing Beijing to lower tariffs on U.S. goods, stop dumping cheap steel and aluminium into foreign markets, and halting the theft of intellectual property, among other things.

Attorney Michael Avenatti will no longer seek the White House in 2020, he announced in a statement Tuesday.

"Every time we covered this kind of bilateral meeting we had no detailed information from the Chinese side", she said, adding that Chinese media were only allowed to publish the reports of state news agency Xinhua.

Trump said China had committed to buying large amounts of US agricultural products and completely removing all tariffs on US automobiles a huge shift from its current 40 per cent penalty although China hasn't confirmed this
‘I am a tariff man’: Trump warns China against raiding ‘great wealth’ of US as trade talks start

The legislation, which was not put to a vote, envisaged using revenue raised by the duties to compensate those harmed by China's actions.

Both sides will immediately hold talks on structural changes concerning forced technology transfers made by Chinese firms on USA companies, intellectual property rights protection, non-tariff trade barriers, cyber intrusion concerns, cyber theft and agricultural, the White House added.

"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".

Trump's economic team has spun his knee-jerk protectionism as a tactic created to negotiate "better" trade deals - but so far, those better trade deals don't seem to be stronger than the status quo ante.

White House national security adviser John Bolton, who also attended the Saturday meeting, said the verdict was still out on what China would ultimately do.

Ford is just one major company looking for clarity. The Chinese have not acknowledged a 90-day deadline for the talks or said that they plan to "immediately" increase purchases of United States farm goods.

Trump also tweeted on Tuesday: "MAKE AMERICA RICH AGAIN".

The president tweeted directly to US farmers, some of whom have suffered as a result of Chinese counter-tariffs, to say "Farmers, I LOVE YOU!"

"I would use that as a litmus test, it's so easy", said Kudlow, director of the National Economic Council.

"I$3 f a fair deal is able to be made with China, one that does all of the many things we know must be finally done, I will happily sign", he explained.

Trump has always been a "Tariff Man", advocating for duties on imported cars and goods as far back as the 1980s.

  • Eleanor Harrison