China to Implement Deals With US in Cars, Energy, Agriculture

US trade deficit with China expands

Trade experts have said 90 days is scant time for resolving sprawling conflicts over technology, state industries and other issues that have bedeviled U.S.

US President Donald Trump said today negotiations to defuse the high stakes trade conflict with China are "going very well".

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.

The Ministry of Commerce said Thursday China will immediately start implementing agreements on agricultural products, energy and cars that were reached at the weekend summit between Chinese and US leaders over their ongoing trade dispute.

US President Donald Trump and Chinese President Xi Jinping agreed on 1 December on a truce in their escalating trade war during their meeting on the sidelines of the G20 summit in Buenos Aires, Argentina.

The White House has said China had committed to start buying more American products and lifting tariff and non-tariff barriers immediately, while beginning talks on structural changes with respect to forced technology transfers and intellectual property protection.

Mr Trump heightened nervousness by tweeting that there would be "a REAL DEAL with China, or no deal at all" at the end of their three-month peace window, "at which point we will be charging major tariffs against Chinese product".

The two countries, and companies from both sides, share common interests on intellectual property rights protection, fair competition and broadening market access, which are all highly compatible with China's reform and opening-up drive.

China has said it will import more USA products to reduce its trade surplus, but no dollar amount has been publicly discussed.

Gao's briefing came hours after the trade detente risked being rattled by the arrest in Canada of a top executive from Chinese telecom giant Huawei at the request of the United States.

Trump added China would roll back tariffs of 40% on cars.

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