China confident of US trade accord; Trump demands ‘real deal’

China confident of US trade accord; Trump demands ‘real deal’

Mubasher: China is confident that it could reach a trade deal with the US, amid renewed warnings from President Donald Trump that he would revert to tariffs if both sides did not resolve their differences.

China would try to ensure that the specific issues agreed upon are implemented, as Beijing and Washington Chinese, actively promote the work of negotiations within 90 days in accordance with a clear timetable and road map,” Commerce Ministry said in a brief statement on its website Wednesday.

“We are confident in implementation,” the ministry said, hailing the latest talks between President Trump and his Chinese counterpart Xi Jinping last weekend as “very successful.”

Trump held out the possibility of extending the 90-day truce, but threatened to impose tariffs on Chinese goods, if trade negotiations failed to yield progress.

“Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina,” Trump said via Twitter.

“We are either going to have a REAL DEAL with China, or no deal at all - at which point we will be charging major tariffs against Chinese product being shipped into the United States,” Trump tweeted a few minutes after the Chinese Commerce Ministry’s statement.

China pledged to start purchasing more US products and eliminating tariff and non-tariff barriers immediately, and begin negotiations on structural changes on forced technology transfers and intellectual property protection, the White House said.

Chinese oil trader Unipec plans to resume US crude shipments by March as the risk of tariffs on these imports was lowered after Trump and Xi agreed on a trade truce for 90 days, during which neither side would impose further duties.