Published: Tue, December 11, 2018
Worldwide | By Angelina Lucas

Trump Says China Trade Talks 'going Very Well'

Trump Says China Trade Talks 'going Very Well'

U.S. President Donald Trump, U.S. Secretary of State Mike Pompeo, U.S. President Donald Trump's national security adviser John Bolton and Chinese President Xi Jinping at a working dinner after the G20 leaders summit in Buenos Aires on December 1, 2018.

The summit between President Xi Jinping and his USA counterpart Donald Trump in Argentina was "friendly and candid" and would help to avoid further trade tensions, a senior Chinese diplomat said Thursday, but offered no new details on the talks.

State Councillor Wang Yi, the Chinese government's top diplomat, said the trade talks had been extremely positive and constructive and helped in coming to a consensus that works in favor of both China and the United States.

"Teams from both sides are in contact and cooperating well, we are fully confident that we can reach an agreement in the coming 90 days", Gao said, without providing more specific details about what actions China will take.

President Donald Trump also stoked worries when he referred to himself as a "Tariff Man" in a tweet on Tuesday.

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China and the United States have been engaged in a trade war after Trump announced in June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit. Mr Trump said Chinese officials had been sending "strong signals" since they "returned from their long trip [to the G20 in Buenos Aires]". It would also begin buying products from U.S. farmers "immediately", the U.S. said.

The Journal reported that the amount of tariffs USA importers have paid since May has doubled.

According to The Wall Street Journal, the tariffs - which are often paid by importers, who then pass the added costs onto companies to whom the products belong - are likely to ultimately fall on the shoulders of American consumers.

"All of these help to safeguard China's legitimate interests, and are also in the interests of the United States, and even more are in line with the expectations of the global community", he added.

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