US, China truce terms don’t match
Beijing: There are discrepancies coming out of US and China in their terms regarding the temporary truce in an ongoing trade war that was agreed upon during the weekend’s G20 summit.
While Beijing has stressed on “as soon as possible”, Trump officials were found using the term “immediately”, the BBC reported.
Chinese officials have said they are “confident in implementing” trade commitments made to the US “as soon as possible” after the developement came following talks between US President Donald Trump and Chinese President Xi Jinping at the G20 meeting in Argentina.
Beijing and Washington would push ahead with negotiations over 90 days and China would implement the specific issues it agreed with the US “as soon as possible”, the statement said.
Trump had said China was supposed to begin buying US agricultural products and others “immediately” as part of an agreement to reduce the trade imbalance between them.
As Beijing has not given any further details, concerns linger over discrepancies in information coming from either side, the BBC reported.
While Trump said talks with China and the 90-day truce period had already started, China did not clarify when the 90-day period was supposed to begin.
The Chinese Commerce Ministry also made no mention of the car tariff cuts while Trump tweeted that Beijing had agreed to “reduce and remove” the 40 per cent tariffs it places on US cars.
The ongoing trade war has seen both nations impose duties on billions of dollars of one another’s goods before the temporary truce was agreed upon on Saturday.
The pause in the trade war came after several months. It was a “great success”, China’s Commerce Ministry statement said.
Ahead of the statement from China, Trump had sounded optimistic, but reiterated his tough stance. “President Xi and I want this deal to happen, and it probably will. But if not, remember I am a Tariff Man,” Trump tweeted.
“When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so,” he said.
