Trump shifts focus to Japan after trade truce with China

Trump shifts focus to Japan after trade truce with China

President Donald Trump agreed to temporarily hold his next round of fire in the USA trade war with China in order to give Washington and Beijing more time to talk, the White House announced Saturday.

The war isn't over, but it'll cool as 2018 comes to an end. "China is unlikely to compromise on this issue", the professor noted. Just $5 a month.

The biggest headline is that both sides have agreed to temporarily hold off on the implementation of new tariffs.

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 that was scheduled for January 1.

The White House said that Xi would consider approving a possible $44 billion deal for Qualcomm Inc.to purchase NXP Semiconductors NV if it's brought to him again.

China, the world's largest auto market, raised tariffs on US auto imports to 40 percent in July, forcing many carmakers to hike prices in a major hit to the roughly $10 billion worth of passenger vehicles the United States sent to China past year.

"The most hard part is that USA wants China to give up the industrial upgrading plan - known as Made in China 2025".

Under the agreement reached in Buenos Aires, the two countries have 90 days to resolve their differences over Beijing's tech policies.

This is where what wasn't addressed at the G20 takes on particular importance.

Meanwhile, China has targeted $110 billion worth of U.S. imports for tariffs.

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Both sides certainly came prepared for serious discussion.

Xi also reiterated China's stance on the Taiwan issue and the US side pledged to continue to adhere to the one-China policy.

In what the White House called a "wonderful humanitarian gesture", the White House said that Xi would crack down on fentanyl, the opioid painkiller largely made in China that is behind an epidemic of U.S. overdoses.

But, as with so many things, China's follow-up will be what matters to ensure that what is meant to be a confidence-building measure endures. French President Emmanuel Macron and Chinese President Xi Jinping were also seen speaking with the prince on the summit's sidelines.

Earlier the U.S. president said he had postponed a planned press conference "out of respect for the Bush family", following the death of former President George HW Bush, at the age of 94.

"I think the worst of it is that the conflict between China and the U.S.is again showing the limits of multilateral institutions, in particular the World Trade Organization", Roberto Bouzas, an worldwide relations and economics professor at the Universidad de San Andres, told VOA. The White House said intellectual property rights was one of the areas where China agreed to negotiate further, but it did not say whether it had been discussed at the meeting.

"It is my great honor to be working with President Xi", Trump said.

The question now is what occurs in the next 90 days. Beijing will no doubt attempt to make good on its pledge to increase purchases of US goods, turning probably to soybeans and potentially energy.

US Trade Representative Robert Lighthizer said last week that he was examining all available tools to raise US tariffs on Chinese vehicles to the 40 percent level that China was charging on US-made vehicles.

This article first appeared at the South China Morning Post.

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