CNN: US and China call a ceasefire in trade dispute
After weeks of tensions, China and the United States have reached a ceasefire.
Both sides this weekend said they had agreed to not impose new tariffs on one another while talks continue, after reaching an initial agreement on trade.
In a joint statement on Saturday, the countries said China would "significantly increase" purchases of US goods and services to reduce their trade imbalance. This was a top demand of the Trump administration during two days of trade talks in Washington with Chinese officials.
"We're putting the trade war on hold," US Treasury Secretary Steven Mnuchin told "Fox News Sunday. "We have agreed to put the tariffs on hold while we try to execute the framework."
Read more ....
WNU Editor: China has a long history of making trade promises .... and then breaking them and/or avoiding them a few months down the road. The U.S. will need to be vigilant on this issue.
Update: I concur .... Trump beware -- China lies and cheats on trade deals and will likely do so again (Steven W. Mosher, Fox News)
Update #2: What do they mean by later? .... U.S. and China Tout Trade Talks as Success, but Leave the Details for Later (The New York Times)
More News On Reports That The US, China Have Agreed To Put The Trade War 'On Hold'
U.S., China putting trade war on hold, Treasury's Mnuchin says -- Reuters
US, China putting trade war on hold after progress in talks -- AP
US, China agree to abandon trade war: Beijing -- AFP
Mnuchin: Trade war with China is ‘on hold’ -- The Hill
China agrees to "significantly increase" imports - but details to come -- CBS
China to buy more American goods, but not as much as Trump wants -- RT
2 comments:
Later means after 12 June/after north Korea issue has calmed down where China is meddling a lot again. There's no point having a trade war if a real war looms.
Or put differently: with realistic chances of an actual war between the US/Japan and others on one side and north Korea and China on the other, let's not also heat up tensions any further with a trade war. It would make hostilities between china and the US very apparent so that a cold war would be quickly developing into a warm one (proxy via north Korea) and hot one (south China Sea/Taiwan ). Thankfully, all leaders are about the money and care deeply about the material world so at least we don't have a religious component on top.
The items of trade are
-trade surpluses/deficits between nations and barriers
-the south China Sea and its approx. 5-20trillion worth as natural resources (aside from its strategic importance)
-Taiwan / one china policy
-North Korea and its nukes and Kim's wish to stay ruler /stay alive and be wealthy as f*ck
Most of these items are common sense/something most of the world wants.
The world doesn't want north Korea to have nukes. Only north Korea (and to some extent unfortunately China too).
The world doesn't want unfair trade and IP theft. China does.
The World doesn't want Taiwan to be just dictated to be ruled by China against their will. China does.
The World didn't break trade sanctions to strengthen north Korea. China did.
The World didn't sell north Korea the rocket fuel and mobile rocket missile launchers that threaten all of APAC. China sold it.
So now please put 1 and 1 together and you know what's happening regarding north Korea and current trade and Taiwan discussions.
Agree to buy more US products? As in sometime in the future, we'll get back to you on the details? It looks to me like a tactical retreat by the US. It happens right after NK walks back from its rapprochement statements. To put it in language everyone would understand, I think China said, "You want our help on North Korea? Then don't bust our butt over trade." This is a fascinating dance.
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