Hooray! "Substantial" Progress With China (Just Don't Ask Where) - Mish Talk

Asia Stocks Surge After Trump Announces Tariff Increase Delay

Asia Stocks Surge After Trump Announces Tariff Increase Delay

The US President also floated the prospect of a summit "to conclude an agreement" with China's Xi should progress continue.

Trade tensions between the United States and China could rapidly rekindle despite rising hopes of a deal, analysts have warned, after Donald Trump promised to pause the launch of higher import tariffs on Chinese goods.

Trump's announcement follows Sunday's conclusion of the latest round of U.S.

Mr Trump told reporters that the U.S. and China had made "substantial progress" in trade talks over the weekend.

In the series of two tweets, Trump specified that progress had been made concerning "important structural issues" including intellectual property protection, technology transfer, agriculture, services and currency.

Mr Trump's decision to delay tariff hikes on $200bn (£153bn) worth of Chinese goods was seen as a sign that the two sides are making progress on settling their damaging trade war.

I have therefore agreed to delay USA tariff hikes.

Economists sounded a note of caution over the chances of complete resolution of the US-China trade dispute, which has rattled the global economy over the past year, as a drag on world trade. China's official Xinhua news agency reported that the two sides made "substantial progress" on specific issues, citing the Chinese delegation in Washington.

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He said he understood discussions got into the "nitty-gritty" issues and that China's vice premier "was directly involved in line-by-line negotiations over these issues, including agriculture".

"This is unlikely to change even if we do see some type of deal later on, particularly because the credibility of the USA appetite for punitive trade actions may now be in question", Marro added. "There is still a yawning gap between the two sides on major issues due to USA lack of trust in China's commitments on structural issues and China's unwillingness to make any fundamental changes to its industrial and economic strategies". "But. agreeing to extend negotiations a few more weeks definitely is in China's interests", said Scott Kennedy, a China expert at the Center for Strategic and International Studies in Washington.

At times nearly desperate for a trade deal.

However, he said, "we don't foresee a significant rollback of existing tariffs, and see underlying tensions regarding China's strategic ambitions, its industrial policy, technological transfers and "verification and enforcement" mechanisms remaining in place".

Trump leaves on Monday for Vietnam, where he will hold a summit with North Korean leader Kim Jong Un.

Nor do we know if Trump plans to roll back the original tariffs or simply to amend them following his weekend getaway (at his own resort) with Jinping.

"Playing up the tariffs issue only won't really hurt us".

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