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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
    13Sep, 2018
    Trade war pushes China to go on charm offensive over free-trade credentials

    Increasingly convinced that the trade war with the United States is unlikely to end soon, Beijing is stepping up its charm offensive to reassure foreign politicians and business leaders of its commitment to global free trade by opening and reforming its domestic economy.

    And next week’s “Summer Davos” – or the World Economic Forum’s Twelfth Annual Meeting of the New Champions – in Tianjin will serve as the next occasion for Beijing to outline its stance.

    “The Chinese government has high expectations for the conference,” Xia Qing, deputy head of the National Development and Reform Commission’s international department, said on Wednesday.

    It was at the World Economic Forum at Davos in January last year that President Xi Jinping made a now-famous keynote speech defending free trade while opposing the rising tide of protectionism. Xi sought to portray China as the new leading champion of globalisation.

    “As the trade war is tending to escalate, [China] is sending strong signals that it will firmly promote globalisation, trade liberalisation, that it will support the Belt and Road Initiative and actively respond to global technological changes,” Xia said.

    (read more: South China Morning Post)