'No difference' between USA and China on trade deal, officials insist

'No difference' between USA and China on trade deal, officials insist

Since the trade war started, China has set tariffs on more than $110 billion worth of US goods, most of the total, except for commercial aircraft.

"So the goal is to avoid getting President Trump angry at them so he would have another excuse to keep raising tariffs on Chinese imports despite another trade truce getting accepted last week when China's Vice Premier Liu He met President Trump at the Oval Office in the White House last Friday", he suggests, adding that for his part, Donald Trump "appears more eager to sign a trade deal".

A decade later, the "new normal" could be shaping up to be indefinite, hefty U.S tariffs on the majority of Chinese imports and substantial Chinese tariffs on most USA goods - a constant drag on the global economy and no fundamental change in Beijing's behavior.

China's exports to the United States fell 10.7% from a year earlier in dollar terms in January-September, while U.S. imports dropped 26.4% during that period, the customs data showed.

"'China has already begun agricultural purchases from our great patriot farmers & ranchers!" the president proclaimed.

Phase one is not a stopping point, as Chinese Vice Premier Liu He said that "phase two will start nearly immediately" after the signing of phase one, which is set to be drafted over the next three weeks.

Meanwhile, the United States is still scheduled to target another $160bn in Chinese goods starting on December 15, a move that would extend Trump's tariffs to virtually everything China ships to the US.

While the Trump administration has touted the deal as a win for the U.S., Bartiromo and other analysts are skeptical. China wants further talks as soon as the end of October to hammer out the details, people familiar said separately earlier. "The only thing that happened Friday was that the USA delayed the tariff increase".

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In 2017, China purchased approximately $20.0bn of United States farm goods.

Before then, Trump and Xi are due to attend an economic conference in Chile in mid-November.

A Foreign Ministry spokesperson confirmed Tuesday that China has already begun buying US agricultural goods and will speed up purchases.

Since the tariffs, China has upped its reliance on Brazil and Argentina for soybean supplies, while Mexico and some European Union members have purchased more of the US's crop. We think they can.

McGregor, who has been monitoring the US-China trade row closely from day one, does not anticipate future stalemates, since both sides "are more eager to endorse a bilateral trade agreement", according to him.

Trade hostilities are weighing on the USA and world economies.

Several issues left to resolve include accusations of intellectual-property theft, forced technology transfer and complaints about Chinese industrial subsidies.

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