US, China grant trade concessions as fresh talks loom

Donald Trump welcomes China’s decision to exempt some US goods from its tariffs. US announces a short delay to tariff hikes in response


Donald Trump welcomes China ’s decision to exempt some US goods from its tariffs. US announces a short delay to tariff hikes in response

Stock markets in Asia rose on the news in early Thursday trade, as the concessions came days ahead of a planned meeting aimed at defusing the escalating trade war between the world’s two largest economies.

China’s decision to exempt some US goods was a “big move” by Beijing and a positive gesture before trade negotiators from both countries meet in Washington, Trump told reporters at the White House.

On Wednesday, Trump wrote in a post on Twitter that the United States had agreed to delay increasing tariffs on $250 billion worth of Chinese imports from Oct. 1 to Oct. 15 “as a gesture of good will.” The tariffs were set to increase to 30% from 25% on the goods.

Asian stocks rose on Thursday, while China’s yuan currency was also up 0.27 percent in offshore trade, as investors hoped for a thaw in US-China trade frictions.

“The exemption could be seen as a gesture of sincerity towards the US ahead of negotiations in October but is probably more a means of supporting the economy,” ING’s Greater China economist Iris Pang wrote in a note.

Beijing has said it would work on exempting some US products from tariffs if they are not easily substituted from elsewhere. The United States is by far China’s largest supplier of whey, which is an important ingredient in piglet feed and difficult to source in large volumes from elsewhere.

In all, the United States and China have slapped tariffs on hundreds of billions of dollars worth of goods in a bitter trade war that has raised the specter of a global recession, with further tariffs slated to take effect in coming months.

ING’s Pang noted the United States had also exempted imports of 110 Chinese products from tariffs in July, including high-value items such as medical equipment and parts.

For two years, the Trump administration has sought to pressure China to make sweeping changes to its policies on intellectual property protection, forced transfers of technology to Chinese firms, industrial subsidies and market access.

Senior White House adviser Peter Navarro this week urged investors, businesses and the public to be patient about the trade dispute.

Read more: TRT World

U.S. stock futures rise after Trump delays tariff hikes against China until Oct. 15U..S stock futures rose late Wednesday immediately following President Donald Trump announcement that he will delay implementing higher tariffs on $250... He means it this time!!!! PAB This Trump administration is exhausting and stressful and I cannot wait until it ends.

The US lobster industry latest to get caught in the US-China trade warCNBC's Contessa Brewer reports from Kennebunkport, Maine on how the U.S. lobster is the next item to get caught up in the U.S.- China trade war. Price of Lobster should be going down for Americans. Tarriffs are working. Muh Robster! Be Patriotic order Lobster. Make sure you take your aged garlic first to reduce cholesterol.

U.S., China grant trade concessions as fresh talks loomU.S. President Donald Trump on Wednesday welcomed China 's decision to exemp... realDonaldTrump is such a weenie! Art of the cower is more like it. Less trade is good for the climate? Nobody 's thanking tariffs effects on that side.... Enough already about Trump's idiot China policy. We need to talk about Kellyanne. Where is she? Some reports say she has moved to Trump Heights. Others that she has returned to the Snell family farm in the Ozarks.

Fund investors continue retreat from U.S. stock marketInvestors last week pulled nearly $4.4 billion from mutual funds and exchange-tr...

US stocks move higher as China eases trade tensionsStocks are rising broadly on Wall Street in afternoon trading as investors welcome China 's move to exempt some U.S. products from a recent round of tariffs So what’s trump doin⁉️

Oil rises as U.S., China swap concessions in trade war, inventories fallOil prices jumped on Thursday, bouncing back from heavy losses in the previous s... 👍

Write Comment

Thank you for your comment.
Please try again later.

Latest News


12 September 2019, Thursday News

Previous news

Pyer Moss Puts on a Thoughtful Turn Up for Spring 2020

Next news

Why are Turkey's Kurdish families camping outside HDP headquarters?
Previous news Next news