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After a Twitter monologue about the border Wall Tuesday morning, President Donald Trump offered hints of good news about US negotiations with China.
“Very productive conversations going on with China! Watch for some important announcements!
The trade truce between Presidents Trump and Xi will halt pause 1 January planned tariffs, with large China purchases of goods and services serving as “down payment”
China has pledged to announce purchases of $1.3-T in Soybean, Nat Gas and other goods in the coming weeks to put off President Trump’s 25% 2019 tariffs on $200-B of Chinese goods for 90 days.
China has announced the reduction tariffs on American automobile imports from 40% to 15%.
Beyond that, the true negotiations will commence immediate, among them:
- US access to Chinese markets.
- Intellectual property theft.
- Force technology transfer.
President Xi has directed an immediate follow-through on the 1 December agreement with President Trump, according to the report.
The total US trade deficit with China was $336-B in Y 2017, but US Treasury Secretary Steven Mnuchin said China would make “additional purchases of $1.3-T dollars” and “if that is real, that will close the trade deficit.”
Late Tuesday, President Trump said that he will intervene in the Huawei CFO issue if it helps the overall US-China trade resolution.
The futures market’s have responded positively.
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