Contrasting Chinese, US statements on trade war agreement

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We saw how that panned out with the North Korean denuclearization talks, where Trump appeared to believe he'd walked away with more than he actually got, so there's reason to be skeptical until more details appear.

"If it really was zero across the board on tariff protection, I think other suppliers than the United States would ship most of the additional cars to China", said Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics.

Trump said on Monday, however, "We are dealing from great strength, but China likewise has much to gain if and when a deal is completed".

China has made no direct mention of specific goods they will start to buy nor given any timeframe for when they may start. Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina.

"Treasure Secretary Steven Mnuchin acknowledged investors" doubts over the talks' outcome. We make the finest and cleanest product in the World, and that is what China wants.

The leaders of the world's largest trading partners struck a temporary truce on Saturday at a dinner in Buenos Aires, with Trump agreeing to maintain the 10% tariffs on $200 billion worth of Chinese goods, and to defer his original January 1 deadline for raising them further.

A lack of detail from the Chinese side has left investors and analysts wondering if Mr Trump's exuberance is warranted, and if details touted by the White House but left out of Chinese reporting on the agreement are in question.

Speaking to journalists in a follow-up conference call, economic advisor Larry Kudlow cautioned "we don't yet have a specific agreement on that", though he expects the tariffs to be dropped, according to the Los Angeles Times.

Washington also expects China to promptly address structural issues including intellectual property theft and forced technology transfers, U.S. officials have said.

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Time is running out for the United States to ship soy before Brazilian farmers start their harvest, US analysts said.

But despite the uncertainty and threats, Trump also said he was open to signing an agreement if one is reached between Chinese and USA negotiators.

US Representative Steve King, an Iowa Republican, in February 2017 introduced a bill that would have allowed the US government to punish Chinese intellectual property theft by imposing duties on the country's imports.

The US accuses China of unfair trading practices and tariffs are meant to counter Chinese practices that make it hard for American companies to compete.

The White House said Beijing had promised to buy an unspecified but "very substantial" amount of agricultural, energy, industrial and other products, with purchases of farm goods to start "immediately".

His appointment of Mr Lighthizer to lead the talks instead of Mr Mnuchin puts one of the administration's toughest China critics in charge.

White House trade director Peter Navarro detailed on Monday what the administration hopes to accomplish by lifting tariffs on China for 90 days. It also said China has agreed to start purchasing agricultural products from USA farmers immediately. "MAKE AMERICA RICH AGAIN", he continued.

US President Donald Trump said Tuesday the talks to resolve the trade dispute with China had begun already and would last for 90 days unless they were extended.

"However I will give it to him that he has managed to bring China to the table", said Guajardo, who is now a senior director at Washington-based McLarty Associates focusing on global trade.