The White House says this move is now suspended for 90 days but adds, "If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent."
U.S. wants an immediate start to talks on Trump's biggest complaints about Chinese trade practices: intellectual property theft, non-tariff barriers and cyber theft.
After 90 days, if there's no progress on structural reform, the U.S. will raise those tariffs to 25%.
There must be some compromises from both sides before Trump agreed to cease fire for the time being. It is a good start. No one expect the trade war will stop totally and immediately through one meeting. This outcome is considered very good liao.
Trump thought that he can use the same tactic as Bush senior did to Japan in 1990. Xi is not Jiang or Hu . Japan suffered zero growth for almost 30 years when she had no choice but gave in to the demamd of US. Both Trump and Xi know this trade war will damage both sides.
don't be too excited, markets viewed no new tariffs for 3 mths as expected, no surprise at all. dt is well known good in nothing but can turn the table up side down anytime, so don't see any upside catalyst for bursa market
Trump created the crisis, he pulled back and then becomes People's hero.....woah....so easy one.......no wonder he calls it Art of the Deal.....
very bad role model....As bad as najib's Cash is king........
so what is Art of the Deal?
It is nothing but bullying, may even be described as immoral.....It is very different from Christian values and Confucian values and all the good values that we are used to. It is very different from Rule of Law.
Trump's Art of the Deal is Rule of the Jungle, not rule of law.
So...now , he started the trade war....and he declares truce and becomes hero?
Not so simple......Trump's only popular card for his base is his racist anti China policies....He cannot just give it up....Trump will have to double down later......
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ChloeTai
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Posted by ChloeTai > 2018-12-02 12:28 | Report Abuse
US President Donald Trump and his Chinese counterpart Xi Jinping have agreed to halt new trade tariffs for 90 days to allow for talks, the US says.