Stocks cheered by Trump trade talk; sterling claws off lows

German automakers are likely to be big beneficiaries of Beijing's pledge to cut tariffs on auto imports from the US

German automakers are likely to be big beneficiaries of Beijing’s pledge to cut tariffs on auto imports from the US

She was arrested in Canada on USA charges of possible violations of trade sanctions on Iran. The resumption of USA soybean purchases will provide some relief to American farmers who have seen exports to the world's biggest consumer plummet and domestic inventories pile up.

China's top planning agency is preparing a new plan to replace Made in China 2025, which would play down China's bid to dominate manufacturing and allow more access for foreign firms, The Wall Street Journal reported, citing officials briefed in the matter.

Trump reportedly said "If I think it's good for what will be certainly the largest trade deal ever made - which is a very important thing - what's good for national security - I would certainly intervene if I thought it was necessary".

Asian stock markets rallied on Wednesday as U.S. President Donald trump sounded upbeat about a trade deal with China, while sterling struggled with the risk of an imminent party coup against British Prime Minister Theresa May.

The US has hit a total of US$250 billion worth of Chinese goods with tariffs since July, and China has retaliated by imposing duties on US$110 billion of US goods. "Watch for some important announcements!" he added. This news proves beneficial for the auto industry, who are aiming to increase their value in the world's largest automobile market.

U.S. Agriculture Department rules require exporters to promptly report sales of 100,000 tonnes or more of a commodity made in a single day.

On Tuesday afternoon, US time, Trump curiously tweeted "Very productive conversations going on with China!"

According to President Trump, he won concessions from the Chinese President Xi Jinping when they met in Buenos Aires at the G20 Summit in the first week of December.

Trump agreed to postpone for 90 days a January 1 increase in tariffs on Chinese goods while the two sides negotiated over increased Chinese purchases of American farm and energy commodities, an end to forced technology transfers and stronger protections for US intellectual property n China.

Trump said on Tuesday that those negotiations are already taking place by telephone.

The latest United States moves follow debates within the Trump administration about imposing sanctions on Chinese entities caught stealing U.S. intellectual property through cyber attacks, three people familiar with the matter said.

"Right off the bat we had news that China was thinking about decreasing levies on us vehicle, at that point the Huawei CFO was discharged on safeguard and afterward Trump said might he be able to intercede for the situation on the off chance that it anchored an economic agreement".

Trump did not offer any timetable for further face-to-face meetings among USA and Chinese officials, Reuters said.

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