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Money China Wants More Talks Before Signing Trump’s ‘Phase One’ Deal

14:15  14 october  2019
14:15  14 october  2019 Source:   msn.com

Talks between UAW and GM take 'turn for the worse': union official

  Talks between UAW and GM take 'turn for the worse': union official Talks between UAW and GM take 'turn for the worse': union officialGM made an offer to the union that basically repeated one the UAW had previously rejected, Terry Dittes, the UAW vice president in charge of the GM department, said in a letter to members. The union provided a copy of the letter to Reuters.

China wants further talks as soon as the end of October to hammer out the details of the “ phase one ” trade deal touted by Donald Trump before Xi Trust between the two sides suffered a big blow in May 2018, when Trump put a stop to a deal for China to buy more energy and agricultural goods to

China wants further talks as soon as the end of October to hammer out the details of the “ phase one ” trade deal touted by Donald Trump before Xi Jinping agrees to sign it The people asked not to be named discussing the private negotiations. More details can be found on the Bloomberg Terminal.

U.S. President Donald Trump and China's President Xi Jinping shake hands ahead of their bilateral meeting during the G20 leaders summit in Osaka, Japan, June 29, 2019. REUTERS/Kevin Lamarque© Thomson Reuters U.S. President Donald Trump and China's President Xi Jinping shake hands ahead of their bilateral meeting during the G20 leaders summit in Osaka, Japan, June 29, 2019. REUTERS/Kevin Lamarque China wants further talks as soon as the end of October to hammer out the details of the “phase one” trade deal touted by Donald Trump before Xi Jinping agrees to sign it, according to people familiar with the matter.

Beijing may send a delegation led by Vice Premier Liu He, China’s top negotiator, to finalize a written deal that could be signed by the presidents at the Asia-Pacific Economic Cooperation summit next month in Chile, one of the people said. Another person said China wants Trump to also scrap a planned tariff hike in December in addition to the hike scheduled for this week, something the administration hasn’t yet endorsed. The people asked not to be named discussing the private negotiations.

US prefers a 'big deal' with China: Trump

  US prefers a 'big deal' with China: Trump President Donald Trump said Monday he would prefer to strike a comprehensive trade bargain with China, in comments days before top US and Chinese officials are due to resume trade talks in Washington. But with little sign the two sides have made progress in bridging the distance between them, speculation has mounted in recent months they may reach a deal which addresses only some of Washington's extensive grievances. "I think it's not what weBut with little sign the two sides have made progress in bridging the distance between them, speculation has mounted in recent months they may reach a deal which addresses only some of Washington's extensive grievances.

The US and China have made progress and come to a " phase one " deal , US President Donald Trump has said. According to diplomats, Germany, whose exports of cars and parts to the United States are more than half the EU total, wants to press ahead with talks to ward off tariffs on automakers

President Trump : Have a substantial phase one deal with China . "Phase two will start almost immediately" after the first phase is signed , Trump said in the Oval Office alongside Asked what changed between these trade negotiations and prior discussions — talks broke down in May, for

The details of the verbal agreement reached in Washington last week between the two nations remain unclear. While Trump hailed an increase in agricultural purchases as “the greatest and biggest deal ever made for our Great Patriot Farmers in the history of our Country,” China’s state-run media only said the two sides “agreed to make joint efforts toward eventually reaching an agreement.”

S&P 500 futures extended losses, the Stoxx 600 fell and the yen rose as investor pessimism on the deal grew.

Read More: China Is Cool on Trump Trade ‘Deal’ Its Economy Still Needs

China’s Ministry of Commerce did not immediately respond to a request for comment on further talks. Geng Shuang, a foreign ministry spokesman, reiterated on Monday that both sides had made progress and said he hoped “the U.S. will work with China and meet each other halfway.”

Top-level U.S.-China trade talks resume as irritants sour atmosphere

  Top-level U.S.-China trade talks resume as irritants sour atmosphere Top-level U.S.-China trade talks resume as irritants sour atmosphereWASHINGTON (Reuters) - The United States' and China's top trade negotiators were set to meet on Thursday for the first time since late July to try to find a way out of a 15-month trade war as new irritants between the world's two largest economies threatened hopes for progress.

President Donald Trump announced a “substantial phase one deal ” with China on Friday after continued negotiations with the vice premier of China that began on Thursday. The president spoke about the future deal during remarks with reporters in the Oval Office at the White House after a

The US and China have made progress and come to a " phase one " deal , US President Donald Trump has said. According to diplomats, Germany, whose exports of cars and parts to the United States are more than half the EU total, wants to press ahead with talks to ward off tariffs on automakers

Investors have struggled to determine whether the U.S. and China reached a breakthrough in an 18-month trade war, with global stocks mixed on Monday. Worse-than-expected September trade figures in China underscored the growing pressure on both Trump and Xi to reach a deal to avert a wider slowdown in the global economy.

China has become increasingly wary of any statements from Trump. Trust between the two sides suffered a big blow in May 2018, when Trump put a stop to a deal for China to buy more energy and agricultural goods to narrow the trade deficit. The U.S. president further sowed distrust in August when he claimed that Chinese officials had called and requested to restart trade talks.

Read More: After 24 Hours, China Still Unaware of Calls Mentioned by Trump

For Xi, it’s seen as politically unfeasible to accept a final deal that doesn’t remove the punitive tariffs altogether. Nationalists in the Communist Party have pressured him to avoid signing an “unequal treaty” reminiscent of those China signed with colonial powers.

Stocks rally on rising hopes for a limited China trade deal

  Stocks rally on rising hopes for a limited China trade deal Stocks rallied on Friday as traders grew more optimistic over the possibility of a limited trade deal between China and the U.S. The Dow was up more than 400 points, while the S&P 500 rose 1.6% and the Nasdaq jumped 1.8%. The gains put the Dow and S&P 500 on track to snap a three-week losing streak.Big tech shares such as Facebook, Amazon, Apple, Netflix and Google-parent Alphabet all gained more than 1%. Bank stocks also gained steam as Bank of America and J.P. Morgan Chase rose more than 1.5% each.Chipmakers rose broadly. Micron Technology gained more than 2% along with Xilinx.

US President Donald Trump announced Friday the US and China had reached a "substantial" trade Trump announced a "very substantial phase one deal " Friday the Oval Office, while Chinese Vice Premier Earlier this week, reports from Beijing indicated lowered expectations from the trade talks

U. S . President Donald Trump has called the phase one trade deal with China "very substantial" — but analysts say it appears to be more of a "temporary truce" Those talks broke down because China reportedly did not want to commit to changes in its laws to help allay U. S . concerns about intellectual

“The U.S. must concede on its December tariff threat if they want sign a deal during APEC summit, otherwise it would be a humiliating treaty for China,” said Huo Jianguo, a former Chinese commerce ministry official who is now vice chairman of the China Society For World Trade Organization Studies. “The U.S. has definitely shown some good gestures but we shouldn’t exclude the possibility of another flip-flop.”

(Updates with markets in fourth graf.)

--With assistance from Dandan Li.

To contact Bloomberg News staff for this story: Steven Yang in Beijing at kyang74@bloomberg.net

To contact the editors responsible for this story: Daniel Ten Kate at dtenkate@bloomberg.net, ;Jeffrey Black at jblack25@bloomberg.net, Sharon Chen

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

China to ask U.S. to remove tariffs in exchange for ag buys in talks Friday: sources .
China to ask U.S. to remove tariffs in exchange for ag buys in talks Friday: sourcesRobert Lighthizer, the United States Trade Representative, U.S. Treasury Secretary Steven Mnuchin, and Chinese Vice Premier Liu He will speak by telephone Friday, their latest attempt to calm a nearly 16-month trade war that is roiling financial markets, disrupting supply chains and slowing global economic growth.

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