China silent over pledged action to resolve United States trade impasse

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China and the United States announced a truce in their trade war after the meeting between Trump and Xi Jinping on Saturday, but that quickly descended into confusion, with both sides announcing different statements on what was agreed.

On Tuesday night, the president threatened "major Tariffs" on Chinese products shipped to the United States if his administration fails to strike a final trade pact with Beijing.

Beijing will start to quickly implement specific items where there's consensus with the United States and will push forward on trade negotiations within the 90-day "timetable and road map", the Ministry of Commerce said in a statement on Wednesday morning in China.

Chinese officials have been told to take necessary steps for the soybeans and liquefied natural gas purchases, two officials with knowledge of the discussions said.

The mood has quickly soured, however, on skepticism that the two sides can reach a substantive deal on a host of highly divisive issues within the 90-day negotiating period.

At the start of the administration, Trump failed on that front when he pulled the United States out of the Trans-Pacific Partnership - a pact joining 12 major trading economies along the Pacific Rim in a trade agreement created to push back against China's mercantilist behavior.

The tone of these tweets is noticeably quite a bit different than of those that he made the day before, in which Trump declared, unironically, that US-China relations had taken "a BIG leap forward" and that China had agreed to "reduce and remove" tariffs on cars being imported into China from the US.

Aram... so President Trump is calling himself a "Tariff Man...." Chinese shares responded in kind, opening lower on Wednesday.

"President Xi and I want this deal to happen, and it probably will", Trump tweeted.

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"Treasury Secretary Steven Mnuchin acknowledged investors" doubts over the talks' outcome.

"The market is trying to figure out, is there going to be a real deal at the end of 90 days or not", Mnuchin said at a Wall Street Journal event on Tuesday.

President Donald Trump and executives from Germany's biggest automakers discussed the companies' investments in the USA on Tuesday as trade tensions with the Europeans and Trump's threat to impose tariffs on foreign cars sold here loomed overhead.

Trump said China had committed to buying large amounts of USA agricultural products and completely removing all tariffs on U.S. automobiles, a huge shift from its current 40 per cent penalty, although China hasn't confirmed this.

In his tweet, Trump wrote that China was supposed to start buying American "agricultural products and more" immediately.

But earlier this week, Mr Trump said Beijing must pay for the "privilege" to trade with Washington.

The two sides will also negotiate "structural changes" to forced technology transfer, intellectual property protection, cyber intrusions and cyber theft, services and agriculture, according to the White House.

Trump, meanwhile, last week signaled he is still itching to open up a third front in his global trade war, urging Congress to support what could be up to 25 percent tariffs on vehicles imported from other trade partners, such as Germany. German Chancellor Angela Merkel this week dismissed suggestions that the automakers could conduct trade policy, saying trade negotiations are the responsibility of the European Union.

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