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    3Dec, 2018
    China, U.S. declare 90-day halt to new tariffs: White House

    BUENOS AIRES (Reuters) – China and the United States agreed to halt additional tariffs in a deal that keeps their trade war from escalating as the two sides try again to bridge their differences with fresh talks aimed at reaching an agreement within 90 days.

    The White House said on Saturday that President Donald Trump told Chinese President Xi Jinping during high-stakes talks in Argentina that he would not boost tariffs on $200 billion of Chinese goods to 25 percent on Jan. 1 as previously announced.

    Beijing for its part agreed to buy an unspecified but “very substantial” amount of agricultural, energy, industrial and other products, the White House said in a statement.

    The two sides would also launch new trade talks to address issues including technology transfer, intellectual property, non-tariff barriers, cyber theft and agriculture, it said.

    If no deal is reached within 90 days, both parties agreed that the 10 percent tariffs will be raised to 25 percent, the White House said.

    On Sunday, China’s state-run media lauded the “important consensus” reached by the two leaders but did not mention the 90-day deadline.

    Trump imposed 10 percent tariffs on $200 billion worth of Chinese goods in September. China responded with its own tariffs.

    Source: Reuters
    Photo: REUTERS/Kevin Lamarque
    3Dec, 2018
    Trump says China has agreed to cut tariffs on U.S.-made autos

    WASHINGTON (Reuters) – U.S. President Donald Trump said on Sunday that China had agreed to “reduce and remove” tariffs on U.S. cars below the 40 percent level that Beijing is currently charging on American-made vehicles.

    A day after he and Chinese President Xi Jinping called a 90-day cease-fire in their trade war to allow time for negotiations, Trump said on Twitter: “China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%.”

    After a 2-1/2 hour dinner with Xi on Saturday in Buenos Aires, Trump agreed to postpone an increase in the tariff rate on $200 billion worth of Chinese imports to 25 percent from 10 percent scheduled for Jan. 1, while China agreed to resume purchases of some U.S. farm and energy commodities.

    Source: Reuters

    3Aug, 2018
    China unveils retaliatory tariffs on $60 billion of U.S. goods in latest salvo

    China on Friday announced retaliatory tariffs on $60 billion worth of U.S. goods ranging from liquefied natural gas (LNG) to some aircraft and warned of further measures, signaling that it won’t back down in a protracted trade war with Washington.

    China’s finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the United States, ranging from 5 to 25 percent.

    Timing will depend on the actions of the United States, the Chinese Commerce Ministry said in a separate statement.

    The Trump administration ratcheted up pressure for trade concessions from Beijing this week by proposing a higher 25 percent tariff on $200 billion worth of Chinese imports. China immediately vowed to retaliate though at the same time urged the U.S. to act rationally and return to talks to resolve the dispute.

    The United States and China implemented tariffs on $34 billion worth of each others’ goods in July. Washington is expected to soon implement more tariffs on $16 billion in additional Chinese goods, which China has already announced it will match immediately.

    (read more: Reuters)