ibusinesslines.com December 13, 2018

Trump praises China talks; aides downplay friction over Huawei arrest

07 December 2018, 11:48 | Kelvin Horton

Trump at the G20 leaders summit in Buenos Aires Argentina

Trump at the G20 leaders summit in Buenos Aires Argentina

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

The Ministry of Commerce said Thursday China will immediately start implementing agreements on agricultural products, energy and cars that were reached at the weekend summit between Chinese and US leaders over their ongoing trade dispute.

Talks during the 90 day period during which President Donald Trump has agreed to suspend US tariff hikes will start by focusing on farm goods, energy and automobiles, said a Ministry of Commerce spokesman, Gao Feng. He said nothing about purchases.

Gao's briefing came hours after the trade detente risked being rattled by the arrest in Canada of a top executive from Chinese telecom giant Huawei at the request of the United States.

US President Donald Trump and China's President Xi Jinping shake hands after making joint statements at the Great Hall of the People in Beijing November 9, 2017. That caused global stock markets to sink Tuesday after Trump revived threats of tariff hikes, though share prices rebounded following positive Chinese statements on Wednesday. He said they have a "clear timetable and roadmap".

"China will start from agricultural products, autos and energy to immediately implement specific items that China and the US have agreed upon", Ministry of Commerce Spokesman Gao Feng told reporters in Beijing.

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.

"When it comes to the trade policies that have been proposed so far specifically, I think we can all expect that there will be further tariff increases on USA imports of Chinese goods, whether that's within the 90-day window that we are now operating under a pause or outside that window", Anderson told a small group of reporters in Beijing on Thursday. -Chinese relations for years.

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