President Donald Trump, saying China admits the trade war with the U.S. has taken a toll on its economy, announced the Chinese now want to make a major deal with the White House.
President Trump’s comments came in a Friday Tweet.
He wrote: “China just announced that their economy is growing much slower than anticipated because of our Trade War with them. They have just suspended US Tariff Hikes.
“US is doing very well. China wants to make a big and very comprehensive deal. It could happen, and rather soon!”
China announced Friday it was suspending additional tariffs on US-made vehicles and car parts for 3 months, staring on 1 January 2019.
Early this week China’s economy czar and the US Treasury secretary discussed plans for talks on tariff issues, indicating negotiations are going ahead smoothly.
Vice Premier Liu He and Treasury Secretary Steven Mnuchin talked by phone about “the promotion of the next economic and trade consultations,” a two-sentence Commerce Ministry statement said.
The announcement indicated talks are on track despite China’s weekend threats of unspecified “grave consequences” if the Huawei Technologies Ltd. CFO is not released. Ms. Meng was arrested in Canada on US charges of possible violations of trade sanctions on Iran. Ms Meng was released on bail.
President Donald Trump agreed on 1 December to postpone more US tariff hikes on Chinese imports for 90 days while the 2 sides negotiate over American complaints about Beijing’s technology policy.
Have a terrific weekend.
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