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    Senior Member Judy's Avatar
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    Trump agrees to freeze higher tariffs on $200B in Chinese goods — for now

    Trump agrees to freeze higher tariffs on $200B in Chinese goods — for now

    By Donna Borak and Sophie Tatum, CNN
    Updated 1:33 AM ET, Sun December 2, 2018

    (CNN) The leaders of the world's two largest economies, Donald Trump and Xi Jinping, agreed to a temporary truce on trade Saturday at a highly anticipated dinner in Argentina.

    After the two-and-a-half hour discussion, Trump agreed to maintain the 10% tariffs on $200 billion worth of Chinese goods, and not raise them to 25% "at this time" ahead of a January 1 deadline, according to a White House statement from press secretary Sarah Sanders.

    In exchange, China agreed it was willing to purchase a "very substantial" amount of agriculture, energy and other goods from the United States to help reduce the trade imbalance.

    Calling the extended meeting "friendly and candid," State Councilor and Foreign Minister Wang Yi said the two leaders had agreed to open their markets to each other and to step up negotiations toward elimination of all additional tariffs.

    A Chinese state media report said that the meeting had reached "an important consensus," pointing out "the direction for Sino-US relations in the near future."

    "If it happens it goes down as one of the largest deals ever made," Trump told reporters on Air Force One during the return trip from the G20 summit in Buenos Aires. "It will have an incredibly positive impact on farming, meaning agriculture, industrial products, computers, every type of product."

    According to the White House statement, the two leaders agreed to immediately begin negotiations on top US concerns related to forced technology transfer, intellectual property and cyber theft. Both parties agreed to complete negotiations within 90 days. If they fail to reach a deal, the 10% tariffs will rise to 25%.

    In his remarks, Wang did not specifically mention the 90-day time limit the White House said negotiations had to be completed by.

    This story's headline has been updated to reflect the actual amount of goods facing tariffs.

    https://www.cnn.com/2018/12/01/polit...ffs/index.html
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    Senior Member Judy's Avatar
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    Wow. He's really going to do it. Trump is going to get a new great trade deal with China. Unbelievable. Hope it all goes smooth and gets worked out the way he wants, because this will absolutely be the trade deal of the century. And, he's not finished with China, he's got the G-20 lined up to help the US force WTO trade rules on China on top of the rules of a new trade deal with the United States. Plus China will continue to pay tariffs at 10% until they put it in writing and if it's not done in 90 days, tariffs bump to 25%.

    It's just a beautiful thing to watch Trump work. And his trade team, they're the best team of all. They have done their work hard, right, firm and fast. And this is very complicated, tedious stuff. They were his best hires so far with respect to doing it right and doing it now.

    Meanwhile, Russia waits patiently and politely in the wings for their chance at some Trump Love.
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