China confident of agreeing USA trade deal despite Trump's combative stance

US President Donald Trump and China's President Xi Jinping are attempting to agree trade terms

China's foreign ministry, the only government department that holds a daily briefing that foreign media can attend, has repeatedly referred questions on details to the commerce ministry, which has yet to say anything.

'Very strong signals being sent by China once they returned home from their long trip, including stops, from Argentina.

The two leaders said they would hold off on imposing additional tariffs for 90 days starting December 1 while they seek a solution to their beefs over trade.

But if a deal doesn't happen, he warned, "I am a tariff man".

German automakers said after the meeting they told Trump they planned to boost USA investments, but warned they would be unable to do so if the administration imposed new tariffs.

White House National Security Adviser John Bolton told the Wall Street Journal CEO Council meeting on Tuesday that Chinese theft of US intellectual property was among the administration's top concerns.

When asked about structural changes the United States had made as a prerequisite to any trade deal, Mnuchin said he expected some things to be implemented "on a rolling basis" in phase two.

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In a "supremely ironic" move, China may even seek to negotiate entry to the TPP-11, which was originally conceived by the Obama Administration as part of pivot to Asia, and which may end up including China but not the USA itself, he said.

After the dinner, Trump said they reached the framework of a deal that would come together in 90 days.

White House officials acknowledged that China hasn't fully committed to eliminate auto tariffs, as Mr. Trump announced Sunday in a tweet.

"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.

Trump didn't help when he tweeted 'I am a tariff man, ' which investors saw a sign a deal may not happen.

Mr Pompeo said in Brussels on Tuesday that the U.S. could abandon some global agreements to thwart bad actors like China, which he accused of cynically exploiting World Trade Organisation rules.

Kudlow called Lighthizer the "best trade negotiator in the business" and expressed confidence that he would keep China on track with its commitments.

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"Common to all these adjustments in the year ahead is a general tactical approach that until such time as China is able to finally bed down the fundamentals of its trade, investment, and economic relationship with the United States, it is wise for China to reduce tensions between Beijing and other countries and regions of the world", Rudd said. The statement did not mention Trump or Xi, however the state news agency Xinhua later said the ministry statement was hailing their meeting.

Megan Greene, chief economist at Manulife, said the market's recent decline had likely contributed to Trump's willingness to reach a truce. Ben Sasse, a Nebraska Republican and opponent of Trump's tariff policy, criticized the president's tweets on that basis. China's crude oil imports from the USA had ground to a halt.

BMW, the largest exporter of American-made vehicles has been planning to boost output of utility vehicles from its Spartanburg, South Carolina plant with the launch of its new flagship, the X7 SUV - many of them bound for China.

"Ultimately, I believe, we will be making a deal - either now or into the future", he wrote. General Motors, which not only exports some models to China but also imports the Chinese-made Envision SUV, fell 5 percent to $36.52 a share.

The commerce ministry, in a brief statement on its website, also said China would work to implement specific issues already agreed upon as quickly as possible.

"Let the negotiations begin", Trump wrote on Tuesday.

Steven Mnuchin, the Treasury secretary, said that China had agreed to buy US$1.2 trillion of American products, but he could not offer specifics.

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A Chinese official told Reuters officials were "waiting for the leaders to return" before publicising details.

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