Trump Agrees Not To Raise Tariff Levels on Chinese Goods; China Agrees To US Purchases. Two Sides To Start Broader Negotiations. (wsj.com)

U.S. President Donald Trump and Chinese President Xi Jinping agreed Saturday to keep their trade war from escalating with a promise to temporarily halt the imposition of new tariffs [the link may be paywalled; alternative source], as the world's two largest economies negotiate a lasting agreement. China also agreed to further market opening, its foreign minister said. In a statement, White House said the U.S. had agreed not to increase tariffs on Chinese goods to 25% on Jan. 1. From a report: The truce between the U.S. and China emerged after a highly anticipated dinner Saturday between Trump and Xi on the sidelines of the Group of 20 summit in Argentina. The leaders agreed to stop the introduction of new tariffs and intensify their trade talks, Chinese Foreign Minister Wang Yi told reporters hours later in Buenos Aires. The White House called the meeting "highly successful," saying the U.S. will leave existing tariffs on $200 billion of Chinese goods at 10 percent and refrain from raising that rate to 25 percent as planned on Jan. 1. In exchange, the U.S. wants an immediate start to talks on Trump's biggest complaints about Chinese trade practices: intellectual property theft, non-tariff barriers and cyber theft. After 90 days, if there's no progress on structural reform, the U.S. will raise those tariffs to 25 percent, White House Press Secretary Sarah Huckabee Sanders said in a statement. China also agreed to boost its purchases of agricultural and industrial goods to reduce its trade imbalance with the U.S., she said.

Comments

Re:Trump caves for peanuts

[ShanghaiBill]

He didn't cave. Current tariffs remain in place. Only the increase to 25% in January has been suspended pending further negotiations on IP theft and non-tariff barriers to trade. Overall, this is a pretty good outcome, and hopefully remaining issues can be resolved, and the existing tariffs can be lifted as well.

TFA is paywalled. Here is an alternative article.

Re:Had to be done

[cats-paw]

Itâ(TM)s the 16th time that the Obama administration has taken complaints about China to the WTO. Of the seven cases that have been decided, the U.S. has won all seven.

yeah Obama did nothing...
How this bullshit gets uprated i'll never understand.

Obama has done NOTHING ? None of you moronic moderators could spend 2 minutes searching to verify that he did NOTHING ?

https://www.washingtontimes.co...

And that article came from the Washington Times. Run by a right wing lunatic. Don't believe me check out the headlines at the bottom of the page. So much for fake news.

The democrats will praise this when they figure out if it really helps or not, since Trump and many of the members of his administration lie often and with impunity.

Also too, those tariffs the Trumpbots are rallying around are being paid by you, not by China.