China talks resume as hopes for mini-deal rise

Chinese Vice Premier Liu He with US Trade Rep. Robert Lighthizer and Treasury Sec. Steven Mnuchin, Oct. 10

For now, Washington will hold off on a massive tariff increase planned for next week and - as negotiations progress - new December tariffs could also be cancelled, U.S. officials said.

"It's not much and it doesn't get us very far in the big issues, so whether it will lead to anything important is still very unclear", said Barry Naughton, an expert on China's economy at the University of California, San Diego.

The US president said the both sides reached an agreement on intellectual property and financial services.

President Trump said Friday the USA and China have reached a "substantial phase one deal" to begin to resolve their 18-month trade war.

"National security hawks in the USA are determined to show that no trade agreement will stop the US from confronting China on other issues in the relationship, including technology competition, Hong Kong, Taiwan and the South China Sea", they said in a report.

Washington still is planning a December 15 tariff hike on $160 billion of smartphones and other imports.

"We have a fundamental understanding on the key issues. but there is more work to do", Treasury Secretary Steven Mnuchin told reporters.

China, meanwhile, said it would increase purchases of US agricultural products.

It could take up to five weeks to commit the agreement to paper, Trump said.

"I think that we're going to have a deal that's a great deal that's beyond tariffs", Trump said.

Second Turkish Officer Killed in Country's Offensive in Northern Syria - Defence Minister
Seven Turkish civilians including a nine-month-old baby were killed in Turkey's border towns in Sanliurfa and Mardin provinces. With the exception of Qatar, an ally of Ankara's, countries lined up to criticise the Turkish offensive.

The strength was attributed to a tweet by U.S. President Donald Trump that said he is set to meet with Chinese Vice Premier Liu He on Friday.

"Good things are happening at China Trade Talk Meeting".

According to the terms of the partial deal, China has agreed to purchase between $40 billion and $50 billion worth of US agricultural products.

Markets welcomed the partial deal, which lays the groundwork for a broader trade pact between the United States and China.

However, some observers said the deal was underwhelming.

Business groups expressed relief that the negotiations appeared to be making progress after more than a year of sputtering, yet they acknowledged that the agreement fell short of the sweeping deal that Trump had promised.

China's securities regulator on Friday unveiled a firm timetable for scrapping foreign ownership limits in futures, securities and mutual fund companies for the first time.

The announcement is a sharp turn from several weeks ago, when the president - angry over China's retaliatory tariffs - demanded that American companies stop doing business with China and threatened to tax every toy, shoe and computer from Beijing before the year's end. In May U.S. officials accused China of walking away from a sweeping agreement that was almost finished over a refusal to make changes to Chinese laws that would have ensured its enforceability.

Earlier Friday, China announced a timetable for carrying out a promise to allow full foreign ownership of some finance businesses, starting with futures traders on January 1, as Beijing tries to make its slowing economy more competitive and efficient.

If Friday's negotiations and Oval Office meeting go well, Trump and Liu could also begin laying the groundwork for a meeting between Trump and Chinese President Xi Jinping at next month's APEC summit in the Santiago, Chile.

Related News:



Most liked

Ukraine’s Zelensky: ‘No Blackmail’ in Telephone Call with Trump
Yovanivitch, who was sworn in as ambassador to Ukraine in August 2016, had served in ambassadorships under three administrations. The Democratic probe is looking into whether Mr Trump improperly pressured Ukraine to investigate his political rival Joe Biden.

Oppo Launches Reno Ace With VOOC 4.0 Fast Charge
However, it is not yet known for now whether the company will be releasing the Reno Ace series in Malaysia or otherwise. Tucked inside is a 4,000mAh dual-cell battery which can be charged from 0 to 100 percent in just 30 minutes.

Robert Forster, Oscar nominee for 'Jackie Brown,' dies at 78
Robert Forster - who appeared in more than 100 films throughout his career, including the new Breaking Bad movie - has died. Forster had a movie career spanning more than 50 years.

More companies back away from Facebook´s Libra coin
Stripe will "remain open to working with the Libra Association at a later stage", the spokesperson said . Their initial agreement to join the Libra Association instantly gave Facebook's project legitimacy.

News Reporter's Son Interrupts Her Live Broadcast In Hilarious Video
As Kube addressed the situation, her son came up behind her and started reaching up to her while she was speaking. This is the moment a news anchor was interrupted by her child during a live broadcast.

Practicing politics: 5 ways to engage in the federal election this fall
And you probably already know this already, but it's worth repeating: Canadians don't vote directly for a prime minister. And though you still may be 17 right now, you can actually register to get on the voters list in advance right here .

Taiwan leader rejects China's 'one country, two systems' offer
This is the final Double Tenth Day parade hosted by President Tsai Ing-wen as she is seeking re-election in the next few months. Tsai is now running about 13 points ahead of Kuomintang candidate Han Kuo-yu in Tawian's January presidential election.

Boris Johnson opens door to customs compromise
Sterling rose sharply on worldwide money markets in the wake of the talks, on which Cabinet received a briefing on Friday morning. Following his "technical" discussion with Mr Barclay in Brussels, Mr Barnier told reporters: "Be patient".

Trump grants new powers to impose tough sanctions on Turkey
And on Friday, the group reported that five ISIS members had escaped from a prison after Turkish mortar rounds landed nearby. The punitive measures, Mnuchin said, can be targeted at any person associated with the Turkish government.

Google can't keep secrets, so all hail the Pixelbook Go
Knowing the Pixelbook and Pixel Slate were expensive Chrome devices from Google, I can't imagine this being cheap. For connectivity, this laptop might come with Two USB-C ports, 3.5mm headphone jack, WiFi and Bluetooth options.

Chris Cuomo apologizes for remark at LGBTQ town hall
Kamala Harris onstage in Los Angeles when the 2020 Democratic candidate told him, "My pronouns are she, her, and hers". Kamala Harris talked about how trans people of color are much more likely to be victims of hate crimes.

Ukraine’s President Says ‘No Blackmail’ Happened in Phone Call With Trump
Mr Zelensky also said he does not believe US-Ukraine relations will be affected by the inquiry into the call. Mr Trump has made allegations, without evidence, that Mr Biden engaged in improper dealings in Ukraine.

Google Maps Updated For Visually Impaired Users
Google Maps is a great help for all of us and now we don't need to ask anyone regarding any way when we have this best guidance. It is the first feature in Google Maps that has been built from the ground up by and for individuals with impaired vision.

Advance voting is now open across Metro Vancouver
Nearly 45,000 Canadians residing overseas are now registered to vote in this election, nearly triple the number in 2015. To vote, people need to be a Canadian citizen, at least 18 years old and prove their identity and address.

Kevin Smith speaks out on Martin Scorsese’s criticism of Marvel movies
Although he says Scorsese has a right to his opinion, Tony Stark said that it didn't make sense. You know, everybody doesn't like his stuff either".