China to 'immediately' apply measures agreed in trade truce with US

Darnell Taylor
December 7, 2018

US President Donald Trump said today negotiations to defuse the high stakes trade conflict with China are "going very well".

China said Thursday it would "immediately" implement measures agreed under a trade war truce with the United States - and was confident it could reach a deal within 90 days.

President Donald Trump agreed Saturday to postpone US tariff hikes in a fight over Beijing's technology policy by 90 days while the two sides negotiate.

The White House said that the U.S. has agreed that the tariffs on $200 billion worth of product will remain at 10% until January 1st 2019 and that China "will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries".

"China will immediately implement the consensus both sides already reached on agricultural products, energy, autos and other specific items", a commerce ministry spokesman, Gao Feng, said at a regular press briefing.

The two sides also will discuss intellectual property protection, technical cooperation, market access and their trade balance, Gao said.

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The White House on Monday had to correct a statement by economic adviser Larry Kudlow, who incorrectly told reporters in a conference call that the 90-day negotiating period between the USA and China would begin on January 1 instead of December 1.

The two sides have been communicating and cooperating smoothly, and China was confident in striking a deal with the USA within the next 90 days, Gao said.

The Trump administration has imposed tariffs on Chinese...

That was compounded by news that a top executive at Chinese telecoms giant Huawei had been arrested in Canada and faces extradition to the U.S. over allegations the firm had broken sanctions linked to Iran.

"China and United States have reached very important consensus as both sides' interests overlap", Gao said.

Asked about Trump's statement that Beijing would cancel tariff hikes on US -made autos, Gao referred reporters to the Cabinet's tax commission.

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