Trump willing to consider interim deal

Mike Starkey offloads soybeans from his combine as he harvests his crops in Brownsburg Ind

Trump said on social media that the delay was "a gesture of good will" that took into account the October 1 celebration of Communist control of China.

Trump said that he might "consider" the concept of an interim deal, but signaled confidence that the negotiations were moving forward.

Washington and Beijing will first hold talks at the deputy level to ensure senior officials who meet later can advance towards an agreement.

Instead, Mr. Trump said, that will be delayed until October 15. But there's no easy or hard.

Liu, also a member of the Political Bureau of the Communist Party of China Central Committee, said China welcomes the USA side's latest decision to delay an increase in tariffs, which was previously scheduled for October 1.

Significant US exports to China, like pork, soybeans and American-made cars, are among the goods that will still be hit by the hefty taxes.

"It is expected that China will be buying large amounts of our agricultural products!", he posted on his Twitter page.

More than 300,000 American jobs have been lost as a result of President Donald Trump's trade war with China, and another 600,000 could be destroyed if the conflict drags on for another year.

China has released a list of 16 U.S. imports that will be exempted from tariffs in the ongoing trade war between the world's two largest economies.

Last month, the United States said it would increase the tariff rates on all Chinese goods, which included raising a 25% tax on $250bn of Chinese imports to 30%.

United States, China Grant Trade Concessions As Fresh Talks Loom
Trump has said the protracted trade war is damaging China more than the United States. President Trump has announced and agreed to delay increased Chinese tariffs .

Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are expected to meet in early October in the U.S. capital, but key officials are tamping down expectations for a major accord.

"Clearly, they're trying to show what they can do if we get back to somewhat of a normal trade relationship", he said. On the other hand, the Chinese have a long-term horizon, and they may be reluctant to take a deal that could give Trump a victory for his re-election campaign.

But he said Trump "is prepared to keep these tariffs in place".

The statement said the commission will continue to work on the exclusion of additional tariffs on U.S. products, and the lists of the subsequent groups will be released in due course.

Trump's hardline trade advisor Peter Navarro said on CNN Thursday that the U.S. is focused on addressing "seven acts of economic aggression" by China including "cyber-hacking of our computers to steal our business secrets, intellectual property theft" and "manipulation of the currency".

Millions of people have demonstrated over the last 14 weeks in the biggest challenge to China's rule of the financial hub since its handover from Britain in 1997.

Reducing America's soaring trade deficit with China has always been a principal aim in Trump's trade battle with Beijing, but so far it has not led to a reduction in the trade imbalance.

Since past year, the two countries have traded tariffs on more than $360 billion in two-way trade.

-China trade war in August when he announced an increase in levies on Chinese goods.

"The exemption could be seen as a gesture of sincerity towards the United States ahead of negotiations in October but is probably more a means of supporting the economy", ING's China economist Iris Pang wrote in a note.

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