China-US economic, trade consensuses 'meet interests of the people': vice premier

China-US economic, trade consensuses 'meet interests of the people': vice premier

During the talks, China and the USA agreed to "substantially" reduce the US trade deficit in goods with China.

Mr. Cecchini said trade tensions could continue to sow uncertainty and volatility for markets, regardless of whether they climb or ebb.

But Frisbie said he wanted to see further progress in addressing US businesses' complaints about how they are treated in China. China had promised to retaliate in a move that threatened a tit-for-tat trade war.

Also Monday, Foreign Ministry spokesperson Lu Kang told a daily news briefing that China expects no further reversals in trade and economic ties with the United States. The U.S. ran a deficit with China in goods and services a year ago of $337 billion.

"China has to import a certain amount of energy from someone and needs to import either animal feed or meat to satisfy Chinese domestic demand", Setser said, adding that what Trump got from China is "the kind of deal that China would be able to offer any USA president".

The US and China concluded two days of trade negotiations with an agreement not to impose tariffs on each other. "Instead, it stood firm and continually expressed its willingness to talk", the English-language newspaper said in an editorial.

Sen. Marco Rubio, R-Fla., one of the Senate's most vocal China skeptics, echoed Lighthizer's exhortation in a tweet Monday, shortly after the president's uppercase and exclamation-laden announcement. No dollar figure was cited in the countries' joint statement on Saturday.

Beijing refused to knuckle under to a USA demand to slash the US trade gap by a specific amount: $200 billion, a figure seen by most economists as wildly unrealistic anyway.

Global stock markets got a bounce Monday after the USA and China effectively called a truce in what had been a spiraling trade dispute, letting investors heave a sigh of relief.

European Union criticizes US President over Iran nuclear deal withdrawal
Europe's " blocking statute " has never been used until now and its rules are vague and hard to enforce. He also vowed to reinstate the sanctions against Iran that were lifted as a result of the agreement.

Some analysts say that for now, Trump might have wanted mainly to smooth over relations with China before his planned June 12 meeting with North Korean leader Kim Jong Un. "This may be somewhat related to President Trump's intervention with ZTE regarding the U.S. export sanctions".

For the entirety of his adult life, Donald Trump has been telling people he's a brilliant businessman-a habit he continued, to great effect, on the campaign trail, assuring voters that he would use his Apprentice-honed skills to strike deals for the USA beyond the wildest dreams of his predecessors.

Though China will likely enter in numerous long-term supply contracts with U.S. LNG producers, this development as well as importing more agricultural commodities, will still not be enough to offset the trade imbalance.

Industrial companies and banks made some of the biggest gains Monday.

In response to a personal request from Chinese President Xi Jinping, Mr. Trump ordered a review of the ZTE case. China is promising to increase its imports of United States agriculture and energy products.

The prospect of a trade war has shaken financial markets and alarmed corporate executives. Those tactics include outright cyber theft of trade secrets and demands that American companies hand over some of their technology in exchange for access to the Chinese market.

The ban amounted to a death sentence for ZTE, which relies heavily on USA parts, and the company announced that it was halting operations. "Mnuchin has completely misread the geopolitical, military, and historical precedence and what President Trump had done was finally put the Chinese on their back heels".

Europe's incentives come with a threat to retaliate against the U.S. with European tariffs on American imports, including iconic items such as Harley-Davidson motorbikes and bourbon whiskey.

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