Asian markets were mixed Monday (Aug 12) with investors gripped by concerns about the US-China trade war after Donald Trump said he was prepared to walk away from next month's planned talks. Traders have been spooked after Donald Trump said the US was "not ready" to make a trade deal with China AFP/Nicholas Kamm The president's comments spooked US investors and added to the sense of pessimism across world trading floors after the White House last week announced fresh tariffs on China and labelled it a currency manipulator. Beijing responded by halting all purchases of US agricultural goods. Trump said Friday it would be "fine" if the negotiations were called off, telling reporters: "We're not ready to make a deal but we'll see what happens." He added: "We have all the cards. We're doing well." The negativity is being slightly offset by central banks' shift to softer monetary policy though there are growing concerns about the outlook for the global economy. There was also some … [Read more...] about Asian markets mixed as dealers fret over US China trade talks
Us china trade talks
US-China trade talks head into 2nd day as new tariffs hit
US Trade Representative Robert Lighthizer (left) and Treasury Secretary Steven Mnuchin wait to greet Chinese Vice Premier Liu He for trade talks. — AFP Photo WASHINGTON — Critical US-China trade negotiations were heading into a second day on Friday, under the shadow of steep new tariffs on Chinese goods that took effect just after midnight. President Donald Trump got a briefing from his trade negotiators, but made no move to hold off on the tariffs -- dashing hopes there might be a last minute reprieve as the negotiations continued. The punitive duties on US$200 billion in imports from China now will more than double to 25 per cent -- a move Beijing has vowed to retaliate against. Locked in a trade dispute for more than a year, officials from the world's two biggest economies returned to the bargaining table late on Thursday, led by Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin. Since last … [Read more...] about US-China trade talks head into 2nd day as new tariffs hit
Positive signs in US-China trade talks
The US-China trade war broke out in the middle of last year, with the two sides continually imposing retaliatory tariff measures, which has caused losses worth billions of dollars for themselves and threatened to hinder global economic growth. Up to now, the total value of higher taxed goods between the US and China has reached more than US$360 billion. President Donald Trump’s administration wants to maintain the additional duties currently being imposed on imports from China until Beijing executes its commitments on a regular basis. On the Chinese side, Beijing has urged the US to immediately abolish additional tariffs after a bilateral trade agreement is signed. In an effort to terminate the aforementioned trade war, the US and Chinese leaders agreed to a ceasefire in their trade battle in late 2018 to negotiate a deal. So far this year, the two sides have conducted many rounds of negotiations and have gradually attained a consensus. Both the US and Chinese officials are … [Read more...] about Positive signs in US-China trade talks
US-China trade talks resume in Washington from Tuesday: White House
WASHINGTON — US-China trade talks aimed at ending a damaging tariff war will resume from Tuesday in Washington, the White House has announced. The last set of talks ended last Friday in Beijing with no deal, though US President Donald Trump said the discussions were going "extremely well" and suggested he could extend a March 1 truce deadline for an agreement to be reached. The next round of negotiations will commence with deputy-level meetings before moving on to principal-level talks on Thursday, a White House statement issued on Monday said. For the US, the talks will be led by Trade Representative Robert Lighthizer and include Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, economic policy advisor Larry Kudlow, and trade advisor Peter Navarro. China’s commerce ministry meanwhile announced it would be represented by Vice Premier Liu He, Beijing’s top trade negotiator. Last Friday, Trump re-iterated he might be willing to hold off on … [Read more...] about US-China trade talks resume in Washington from Tuesday: White House
US China trade talks set to open in Beijing
US Trade Representative Robert Lighthizer (left) and Deputy Trade Representative Jeffrey Gerrish leave a hotel with members of a negotiation team in Beijing. (GREG BAKER/AFP) Pressure to seal an accord ahead of a March deadline lessened before the talks as US President Donald Trump indicated on Tuesday in Washington he was open to extending a trade truce, depending on progress in Beijing. Trump in December put on hold sharp tariff hikes on US$200 billion of Chinese imports to allow time for negotiators to work out a resolution to the thorny spat. The two countries have already slapped tariffs on more than US$360 billion in two-way trade, which has weighed on their manufacturing sectors and shaken global financial markets. US officials including US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will meet with China's top economic czar Liu He and central bank governor Yi Gang as the two sides aim to build on progress made in Washington last month. Lower … [Read more...] about US China trade talks set to open in Beijing