DEVELOPING: US-China trade uncertainty fuels market plunge
- Author: Eleanor Harrison Dec 07, 2018,
Dec 07, 2018, 0:12
Members of Trump's economic team continued to temper optimism about a deal Tuesday.
More often than not, such statements are short on details, said Luqiu, who covered meetings between Chinese and foreign leaders during 20 years as a reporter with Hong Kong's Phoenix TV.
IP theft is a core battleground in the trade war.
Details regarding China's pledge to buy more American products - one that it has made before - remain scant. This is significant because China has never paid much attention to controlling the export of anything other than weapons and has even denied its obvious role in the US opioid crisis.
What "structural changes" is China willing to make?
Based on reciprocity, mutual benefit and mutual respect, the win-win cooperation between China and USA could be achieved through communication and negotiation instead of confrontation, Zhang concluded.
White House officials have also struggled to explain whether China had actually agreed to drop a 40 per cent tariff on USA cars as part of the deal.
What are the next steps in the talks?
There are significant differences between the two governments over what was agreed at the dinner, according to a side-by-side comparison of their post-meeting statements prepared by Bloomberg. The U.S. point man will be Trade Representative Robert Lighthizer.
"From our perspective, the US position is understandable", VW said in a statement.
Trump "shared his vision of all automakers producing in the United States and creating a more friendly business environment", the White House said in a statement afterward.
"Officials now face the hard task of fleshing out a deal that is acceptable to the Chinese but also involves significant enough concessions not to be torpedoed by the China hawks in the Trump administration", Capital Economics said in a note this week, adding that higher tariffs could simply be delayed.
"I am a Tariff Man", the president said Tuesday in one of a series of tweets about a new round of trade talks with China after the world's two largest economies imposed tit-for-tat tariffs on hundreds of billions of dollars of each other's goods after Trump struck first.
How likely is this to end the trade war?
President Donald Trump agreed Saturday to postpone US tariff hikes in a fight over Beijing's technology policy by 90 days while the two sides negotiate.
Daimler chairman Dieter Zetsche told reporters that additional US investments are contingent on conditions remaining the same. -China economic relations. That gives him a strong political incentive to ensure talks don't fail, as he girds for the next presidential election in 2020.
"Winter will continue", said Jennie Zhang, chairman of Guangzhou Jinhuamei Leatherware Co., a maker of leather belts and handbags that were hit by the 10 percent tariffs Trump imposed.