US and China 'agree terms' to avert trade war escalation

[cc]

Stock markets have surged on reports a trade deal has been agreed in principle between the United States and China.



US business news outlets including CNBC, a sister company of Sky News, said the terms of a so-called phase one agreement were in place following months of on-off talks.



Bloomberg later reported that Donald Trump had signed off on the deal.



Just hours earlier, the president had tweeted his administration was "very close" to securing a trade pact following 17 months of hostilities.



Mr Trump, who has raised market hopes of an end to his trade war with the world's second-largest economy several times before, only for those expectations to be dashed, sent the message just after markets had opened on Wall Street.



https://news.sky.com/story/trump-says-us-very-close-to-a-big-deal-with-china-11884723">https://news.sky.com/story/trump-says-u ... a-11884723">https://news.sky.com/story/trump-says-us-very-close-to-a-big-deal-with-china-11884723



Can't find it now, but read Trump had signed

[Anonymous]

Stock markets have surged on reports a trade deal has been agreed in principle between the United States and China.



US business news outlets including CNBC, a sister company of Sky News, said the terms of a so-called phase one agreement were in place following months of on-off talks.



Bloomberg later reported that Donald Trump had signed off on the deal.



Just hours earlier, the president had tweeted his administration was "very close" to securing a trade pact following 17 months of hostilities.



Mr Trump, who has raised market hopes of an end to his trade war with the world's second-largest economy several times before, only for those expectations to be dashed, sent the message just after markets had opened on Wall Street.



https://news.sky.com/story/trump-says-us-very-close-to-a-big-deal-with-china-11884723">https://news.sky.com/story/trump-says-u ... a-11884723">https://news.sky.com/story/trump-says-us-very-close-to-a-big-deal-with-china-11884723



Can't find it now, but read Trump had signed

Did you want this in Trump's Winning Streak?



Than again, it's so important, perhaps it should have it's own thread.

[cc]

the Brit vote is so amazing that I did not want to cover it up in "Politics"



That's the weak area of subs - can only see a few words + any post in other thread covers previous thread

[Anonymous]

the Brit vote is so amazing that I did not want to cover it up in "Politics"



That's the weak area of subs - can only see a few words + any post in other thread covers previous thread

Okay, and I'm sure Seoul will have something to say about this trade agreement.

[cc]

for sure he will !!!!

[Anonymous]

Stock markets have surged on reports a trade deal has been agreed in principle between the United States and China.



US business news outlets including CNBC, a sister company of Sky News, said the terms of a so-called phase one agreement were in place following months of on-off talks.



Bloomberg later reported that Donald Trump had signed off on the deal.



Just hours earlier, the president had tweeted his administration was "very close" to securing a trade pact following 17 months of hostilities.



Mr Trump, who has raised market hopes of an end to his trade war with the world's second-largest economy several times before, only for those expectations to be dashed, sent the message just after markets had opened on Wall Street.



https://news.sky.com/story/trump-says-us-very-close-to-a-big-deal-with-china-11884723">https://news.sky.com/story/trump-says-u ... a-11884723">https://news.sky.com/story/trump-says-us-very-close-to-a-big-deal-with-china-11884723



Can't find it now, but read Trump had signed

I haven't read all the details yet, but the deal would turf tariffs on about $160 billion in Chinese imports, set to go into effect on Sunday, and potentially reduce existing duties on $360 billion worth of items.



The major stock averages all surged on news of this. Still, I'm taking a wait and see attitude. There is always a chance Chinese negotiators renege on any agreement.

[Anonymous]

Stock markets have surged on reports a trade deal has been agreed in principle between the United States and China.



US business news outlets including CNBC, a sister company of Sky News, said the terms of a so-called phase one agreement were in place following months of on-off talks.



Bloomberg later reported that Donald Trump had signed off on the deal.



Just hours earlier, the president had tweeted his administration was "very close" to securing a trade pact following 17 months of hostilities.



Mr Trump, who has raised market hopes of an end to his trade war with the world's second-largest economy several times before, only for those expectations to be dashed, sent the message just after markets had opened on Wall Street.



https://news.sky.com/story/trump-says-us-very-close-to-a-big-deal-with-china-11884723">https://news.sky.com/story/trump-says-u ... a-11884723">https://news.sky.com/story/trump-says-us-very-close-to-a-big-deal-with-china-11884723



Can't find it now, but read Trump had signed

I haven't read all the details yet, but the deal would turf tariffs on about $160 billion in Chinese imports, set to go into effect on Sunday, and potentially reduce existing duties on $360 billion worth of items.



The major stock averages all surged on news of this. Still, I'm taking a wait and see attitude. There is always a chance Chinese negotiators renege on any agreement.

I hope the USA and China reach a mutually beneficial trade deal that boosts the global economy.

[Anonymous]

The U.S. would cancel plans to impose new tariffs on $156 billion in annual imports of cellphones, toys and other products on Sunday and would also reduce the tariff rate on a previous tranche of roughly $120 billion of goods to 7.5%, down from 15%.



Trump said the U.S. would use the remaining tariffs as leverage in phase two of the negotiations with China. Trump said he expects China to purchase $50 billion in U.S. agricultural products. He didn't specify a time frame for the purchases.



The president also said he had planned to start negotiations on phase two of the deal after the 2020 U.S. presidential election, but China wanted to start the talks sooner.



The deal will require China to make structural reforms and other changes to China's economic and trade regime in the areas of intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange.

[Anonymous]

If Trump pulls this off a fairer trading relationship with China, it will make all his predecessors look like do nothings.

[Anonymous]

Trump for king and pope.

[Anonymous]

U.S.-China trade deal in 'Phase one'

Swapping tariff rollbacks for farm, energy purchases



WASHINGTON/BEIJING — The United States and China cooled their trade war on Friday, announcing a "Phase one" agreement that reduces some U.S. tariffs in exchange for increased Chinese purchases of American farm products and other goods.



Beijing has agreed to buy $32 billion in additional agricultural goods over the next two years, U.S. officials said, from a baseline of $24 billion purchased in 2017, before the trade war started. China would also ramp-up purchases of U.S. manufactured goods, energy, and services.



The United States would suspend tariffs on Chinese goods due to go into effect on Sunday, and reduce others, officials said. A deal is expected to be signed the first week of January in Washington by principal negotiators.



U.S. President Donald Trump tweeted Friday morning "We have agreed to a very large Phase One Deal with China." Officials in China have "agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more," he said.



During a later news conference in the White House, Trump said he thought China would hit $50 billion in agricultural purchases.



Beijing, Chinese officials said the two countries have achieved major progress in their phase one trade negotiations.



China has agreed to aim to purchase $50 billion in farm products a year, Robert Lighthizer, the United States Trade Representative, told reporters at the White House on Friday.



To get there, Beijing has committed to buying $16 billion more a year in farm products over the next two years, he said.



The United States has been pushing for the $50 billion figure after Trump said during an October 11 press conference that the two countries had agreed to a "Phase one" trade deal that included a "purchase of from $40 (billion) to $50 billion worth of agricultural products."



Beijing has since balked at committing to buy a specific amount of agricultural goods during a certain time frame, however. Chinese officials said they would like the discretion to buy based on market conditions.



China will import more U.S. wheat, corn, and rice after the deal, China's vice agricultural minister said Friday, but did not elaborate.



China has not been a major buyer of U.S. corn, wheat or rice in the past though in recent years it has been the No. 3 or 4 buyer of one particular variety of wheat, U.S. spring wheat used for blending. China was a top 5 buyer of U.S. corn from 2011 to 2014 but has not been a major buyer since.

[Thiel]

As a libertarian, I did not like Trump. I was a Paul supporter(father and son) all the way. But, his different approach to trade is levelling the playing field. His different approach to foreign affairs has meant peace.

[Anonymous]

US China trade deal done.



WASHINGTON — The "Phase 1" U.S.-China trade deal will nearly double U.S. exports to china over the next two years and is "totally done" despite the need for translation and revisions to its text, U.S. Trade representative robert Lighthizer said on Sunday.



Lighthizer, speaking on cbs' Face the Nation program, said there would be some routine "scrubs" to the text but "this is totally done, absolutely."