Trump sees 'very strong signals' that China is ready to deal

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China's foreign ministry, the only government department that holds a daily briefing that foreign media can attend, has repeatedly referred questions on details to the commerce ministry, which has yet to say anything.

That gives the president 24 hours to fix the damage inflected when the market plunged nearly 800 points on Tuesday after a series of tweets from Trump suggested a trade war with China could resume next year. "Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina", Mr Trump said on Twitter.

Sources told Reuters that Chinese oil trader Unipec plans to resume buying US crude by March after the Xi-Trump deal reduced the risk of tariffs on those imports.

"We are now taking in $billions in Tariffs".

Hours later, Bloomberg News reported that officials have begun preparing to restart imports of U.S. soybeans and liquefied natural gas -the first sign confirming the claims of Trump and the White House that China had agreed to start buying some United States products "immediately".

White House trade adviser Peter Navarro on the trade truce between the USA and China.

Treasury Secretary Steven T. Mnuchin said on Fox News that China would face "tariffs without reciprocal tariffs attacking us" if Beijing doesn't meet certain commitments made at last week's Group of 20 summit. In return, China agreed to buy more US goods in an effort to reduce the trade deficit, which Trump often fixates on.

In Buenos Aires, Trump agreed to delay the scheduled US tariff increase for 90 days while the two sides negotiate over the administration's complaints related to how Beijing systematically steals trade secrets and forces the USA and other foreign countries to hand over sensitive technology as the price of admission to the vast Chinese market.

Trump and Xi also agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture, according to the White House statement.

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Stocks in the U.S., Europe and Asia fell sharply after Trump declared himself "a Tariff Man" who wants "people or countries" with intentions to "raid the great wealth" of the U.S.

Trump has argued that China for decades has abused global trade rules to lure away United States jobs, steal U.S. intellectual property, subsidise its own companies, and strong-arm USA firms.

China has said that Beijing and Washington will push forward with trade negotiations in the next 90 days and it is confident that an agreement can be reached but doubts remain over whether the two sides can resolve their deep differences.

As part of the talks on Saturday night, Trump agreed not to increase existing tariffs on Chinese goods or impose any new ones for 90 days, while talks took place. "It will always be the best way to max out our economic power", he said. This fundamental misunderstanding of economics, combined with his reckless announcement of the detente that wasn't, scared investors and continues to undermine his administration's efforts at reaching a real trade deal with China. Leaders of the European Unionhave signaled they would echo the response of China, saddling USA -made vehicles with new tariffs in response.

In a commerce ministry statement, Chinese officials called the talks between the two leaders a "great success". Ultimately, I believe, we will be making a deal - either now or into the future.

Team Trump said China would agree to purchase a not yet agreed upon, but very substantial, amount of farm, energy, industrial and other products from the US.

Washington, but not Beijing, has also said China will cut import tariffs on American cars.

A Chinese official told the Reuters news agency officials were "waiting for the leaders to return" before publicising details.

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