Trump, German auto executives meet at White House

Alicia Cross
December 7, 2018

Over the weekend, a temporary truce was agreed between US President Donald Trump and Chinese President Xi Jinping at the G20 meeting in Argentina.

"Not to sound naive or anything, but I believe President Xi meant every word of what he said at our long and hopefully historic meeting", he said. "ALL subjects discussed!" Trump tweeted.

Furthermore, Kudlow seemed to downplay Trump's assertion following the meeting that China agreed to reduce or eliminate its tariffs on American automobiles, telling reporters that there was no "specific" agreement reached.

His Tuesday tweets said "The negotiations with China have already started", Trump adding that his White House team will be "seeing whether or not a REAL deal with China is actually possible". Wall Street was initially encouraged by Trump's deal with Xi in which both sides agreed to a 90-day truce in the U.S. I am a Tariff Man.

China's tariffs on US soybeans had earlier pushed the price of soybeans from Brazil, the world's top supplier, so high that Chinese buyers could have imported American soybeans and paid the tariff for less.

In return, Washington said China would purchase "very substantial" amounts of United States agricultural, energy, industrial and other products.

That optimistic tone contrasted with Chinese criticism of Canada's arrest of an executive of technology giant Huawei who a Toronto newspaper said is accused by the United States of trying to violate trade curbs on Iran.

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Kudlow said he did not think that vehicle tariffs were imminent, though he added that they were in Trump's "quiver of arrows".

"This is just an enormous, enormous event", Larry Kudlow, President Donald Trump's top economic adviser, said Monday of the ceasefire that Trump and President Xi Jinping reached at the weekend on the sidelines of an global economic summit in Buenos Aires, Argentina.

They said they would hold off on imposing additional tariffs for 90 days starting on December 1 while they sought a solution to their trade disputes.

The US President said China was supposed to begin buying US agricultural products and others "immediately" as part of an agreement to reduce the trade imbalance between them. As one of the world's biggest markets for pork, it is only natural that they would reach out to one of the world's biggest pork-producing nations: the United States.

The president also seemed less focused than he has been in the past on the US trade deficit with China - widely seen by most economists as a red herring in the trade relationship - and more focused on, as he tweeted, leveling the playing field between USA and China firms.

For meetings such as the Trump-Xi dinner, the initial official news report is typically drafted by the foreign ministry and approved by the General Office of the ruling Communist Party's Central Committee, she said. These practices, according to the administration and outside analysts, include stealing intellectual property and forcing companies to turn over technology to gain access to China's market.

"President Xi and I want this deal to happen, and it probably will", Trump said in a post on Twitter.

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