Trump is leading US trade negotiations with China: Mnuchin

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According to Trump, . he and President Xi are "the only two people that can bring about massive and very positive change, on trade and far beyond",. adding a solution for North Korea would also be a great thing for China and the rest of the world.

President Trump's self-proclaimed superhero status as "Tariff Man" does not impress Ben Shapiro. "It will always be the best way to max out our economic power", he said.

President Donald Trump and his Chinese counterpart, Xi Jinping, held an effective meeting on the side-lines of the summit, held over the weekend in Argentina.

Per China, "Trump said the USA side welcomes Chinese students to study in his country".

Under the sarcastic headline, "You Don't Understand Tariffs, Man", the Times highlighted the fact that Trump's impulsive attempts at economic policies have hurt farmers and manufacturers alike, as reflected in Tuesday's stock market plunge. The existing tariffs are already doing damage, the US Federal Reserve's rate rises and greatly-reduced purchases of US bonds and mortgages are draining stimulus from the economy and the impact of Trump's tax cuts is waning even as the legacy of those cuts and Trump's big surge in spending is showing up in swollen government debt and deficits. "We said that you also have to demonstrate greater market access, and one of the many ways they can do that is by purchasing hundreds of billions of dollars of both agriculture and non-agriculture products".

The temporary freeze on further hostilities in the trade war between the United States and China had sparked a global rally in equity markets on Monday, pushing MSCI's all-country world index up 1.3 percent.

Donald Trump threatened to slap a range of import penalties on Chinese products if they didn't make major changes in their economic relationship with the US.

Like this story? Share it with a friend! Trump said in the Twitter post that Lighthizer would work closely with Mnuchin, Kudlow and trade adviser Peter Navarro.

White House economic adviser Larry Kudlow said earlier this week the USA won Chinese commitments to buy more than $1 trillion in American products.

But any such pact is not a guarantee, given deep divisions that remain between the countries and the administration's insistence that China end its practice of pressuring USA companies to hand over valuable technology and trade secrets.

"There was a significant commitment from both leaders on what needs to be done over the 90 days and instructions to both teams to negotiate and turn this into a real agreement with specific action items, deliverables and time frames", Mnuchin said.

Trump said in a tweet late Sunday that China would "reduce and remove" tariffs on American-made vehicles, raising more questions about the outcome of his meeting with Xi.

But the deal was also vague, and the uncertainty has led to skepticism that the divides between the U.S. and Chinese goals can be bridged.

Weinberg derided the United States statement which said "China will agree to purchase a not yet agreed upon, but very substantial, amount".

"If it is we will get it done".

On Monday, Kudlow said there was an "assumption" that China would eliminate auto tariffs, not a specific agreement. China has placed a 10 percent tariff on U.S. -LNG imports with the threat of increasing that figure in the future, resulting in China having to find alternate sources of the super-cooled fuel on the spot market.

Confusion has also arisen over when the agreed 90 day period for negotiations will kick in, with some saying it begins now, others claiming it's January.

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