China will be buying 5 million metric tons of soybeans from the United States as a show of good faith to American farmers, the vice premier revealed on Thursday afternoon as he sat down with President Trump.
The announcement was not planned, U.S. Trade Representative Robert Lighthizer, told journalists during a briefing several minutes later where he was asked whether the soybean purchase had been agreed to as part of this week's trade talks.
It appeared to be a sweetener of sorts from the Chinese to the U.S. as negotiations between the two nations continued. President Trump says it will be the 'largest trade deal ever made' if all goes as planned.
Chinese President Xi Jinping did not make the trip to Washington but shared his hope in a letter that a delegate read aloud that the nations will 'continue to have mutual respect' for one another as they work toward an agreement that will benefit both parties.
He said that talks are at a 'critically important stage' and he hopes to 'keep close contact in various ways' with his counterpart.
'As I often say, I feel we have known each other for a long time, ever since we first met,' he told Trump. 'I cherish the good working relations and personal friendship with you. I enjoy our meetings and phone calls in which we could talk about anything.'
President Trump said Thursday that he believes the fine points of a trade deal with China will ultimately be negotiated directly between himself and Xi Jinping
A Chinese delegation is in Washington this week to discuss the broad strokes of an agreement to end the trade war the two countries have fighting for nearly a year
Trump laid out the perimeters of a deal with China before a meeting with the vice premier on Thursday afternoon
He told Trump on an equally personal level 'if there is anything, you could always approach me through various means' if he feels that they need to have a personal discussion.
President Trump said in turn that he looks forward to meeting with Xi at least once before the deal closes, and he believes the fine points of an agreement with China will ultimately be negotiated directly between himself and the foreign leader.
'That's a beautiful letter and we appreciate it,' he said of the message that wished he and his wife a happy new year.
Trump said a few minutes later, 'We have a thing called the telephone and other means of talking. So I know you're spending a lot of time, and it's moving along well.'
A Chinese delegation was in Washington this week to discuss the broad strokes of an agreement to end the trade war the two countries have been fighting for nearly a year.
Chinese Vice Premier Liu Hu and Beijing officials met with Trump on Thursday to discuss disputes over intellectual property rights and drug production after days of talks with Trump's top economic and trade aides.
In the meeting with Trump, Liu mentioned the soybean purchase that Lighthizer said later was a 'surprise announcement' that he didn't know about until just beforehand.
It was originally described as a 'ton' and later explained as a 'metric ton' as officials worked their way though a language, and measurement, barrier in the talks.
Trump told Liu when it was announced, and he believed it to be American tons at the rate of 5 per day: 'That's going to make our farmers very happy. That's a lot of soybeans. That's really nice.'
Trump had mentioned American farmers earlier in the day, telling reporters that he wouldn't make a deal with China unless it benefits them. He said he expected the Chinese to buy corn, wheat and soybeans specifically, in addition to making investments in the technology and financial sectors.
'I just want to let everyone know we won't have a deal if we don’t open it up to the farmers, and we won't have a deal if they don’t open it up to our manufacturers, and just all of it,' Trump had said. 'And I think China is very prone to do this. So we're going to have a talk. '
Trump told reporters prior to a private meeting with Liu that he believes the accord has a 'very good chance of happening' and that it 'will be by far the biggest trade deal ever made' if it does.
'China is having a very hard time .... We're trying to work out a new trade deal with China. I think it will happen something will happen. Something will happen,' he said at a surprise Oval Office media availability. 'But it's a very big deal. It will be, if it does happen, it will be, by far, the largest trade deal ever made.'
Reiterating the point he declared: 'This isn't going to be a small deal with China. This is either going to be a very big deal or it's going to be a deal that we'll just postpone for a little while.'
Lighthizer told reporters after that the U.S. is 'prepared to take action if China doesn't follow through' on it commitments during a briefing in which he summarized the two days of talks as 'very intense, very specific, very detailed discussions.'
'The deadline is March 1,' he said of the firm date that Trump set after his dinner with Xi last year. 'That's the deadline.'
Talks with lag for several days, U.S. officials predicted, as China celebrates its New Year. On that very same day, Feb. 5, the U.S. president will give his State of the Union address.
They are expected to pick back up in mid-February, when a U.S, delegation goes back to Beijing, and a deal-making meeting between the two nation's president's may come immediately afterward.
President Trump said more than once on Thursday that he expects to meet with Xi soon, but it wasn't clear where exactly those talks would take place.
White House officials said the location and frequency of those face-to-face talks would be decided by the U.S. president.
Trump said it would be in the 'near future' in a tweet early in the morning.
'We haven't set up a meeting yet,' he explained after his meeting with Liu.
Trump confirmed that they would be getting together to settle some 'final' issues at least once, maybe twice, over the next month, however.
Trump said that he would be meeting with Xi Jinping in the 'near future' - but it wasn't immediately clear where or when he expected the talks to take place
The meeting could come at the end of this month when he travels to Asia to meet with North Korean leader and Xi ally Kim Jong-un
He said twice on Thursday that it would probably take leader-to-leader talks for a trade deal to emerge before a self-proclaimed deadline of March 1
The meeting could come at the end of this month when he travels to Asia to meet with North Korean leader and Xi ally Kim Jong-un.
U.S. Secretary of State Mike Pompeo confirmed this week that a nuclear summit with North Korea would take place at the end of this month and that it would be at an undisclosed location in Asia.
Lighthizer said Thursday that he was not involved in the North Korea negotiations and had no insight into the timing of those talks compared to Xi and Trump meeting.
Trump did say that he'd be meeting with Xi in the 'near future' to seal the deal on a trade accord that must emerge before the self-proclaimed deadline of March 1.
In tweets on Thursday morning, Trump said staff-level 'meetings are going well with good intent and spirit on both sides' now that Beijing realizes it would be better off negotiating with the U.S. than bearing the brunt of more tariffs.
'No final deal will be made until my friend President Xi, and I, meet in the near future to discuss and agree on some of the long standing and more difficult points. Very comprehensive transaction,' Trump said. 'China’s representatives and I are trying to do a complete deal, leaving NOTHING unresolved on the table.'
Trump reminded in the message, 'Tariffs on China increase to 25% on March 1st, so all working hard to complete by that date!'
The president has characterized his tariffs as good for the U.S. and bad for China, but a panel will have the opportunity to decide, if trade talks don't move quickly enough.
The World Trade Organization formally opened an investigation into his trade war with China, Bloomberg reported Monday, as Trump characterized his tariffs as a 'big win' for the U.S.
Trump said in a Monday tweet, 'Tariffs on the "dumping" of Steel in the United States have totally revived our Steel Industry. New and expanded plants are happening all over the U.S.
'We have not only saved this important industry, but created many jobs. Also, billions paid to our treasury. A BIG WIN FOR U.S.'
Trump's steel and aluminum tariffs affect most countries, including China, with the notable exceptions of Argentina and Australia
Trump's steel and aluminum tariffs affect most countries, including China, with the notable exceptions of Argentina and Australia.
China retaliated with tariffs of its own on U.S. goods that Trump responded to with more penalties that he promised to double if the two nations cannot reach a formal agreement.
If a deal is not reached with Beijing by March 1, the president has said he'll slap another $200 billion in taxes on exports from China.
He told reporters Thursday he thinks there's hope for an agreement by then.
'I think we can do it by March 1st. Can you get it down on paper by March 1st? I don’t know. I can say, on March 1st the, tariff on China goes to 25 percent, and that's a big tariff.'
A new round of talks with Beijing are taking place this week in Washington.
Liu and a delegation met with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin on Wednesday. They're coming to the White House for a meeting with Trump on Thursday afternoon.
Trump's optimism that a deal can be made stands in contrast to comments of some of his highest-ranking advisers.
Commerce Secretary Wilbur Ross said last week that the U.S. and China are 'miles and miles' away from a deal as he noted in a CNBC interview that the nations have 'lots and lots of issues' to discuss.
'We would like to make a deal but it has to be a deal that will work for both parties,' he said. 'We're miles and miles from getting a resolution.'
A trade deficit of $323.3 billion separates the two nations, the network reported, which makes it the largest gulf since 2006.
The president's top economic adviser, Larry Kudlow, said that the talks with Liu will determine whether a deal can be made by the end of the 90-day detente that Trump and China's Xi Jinping agreed on at the end of the G20 summit.
Kudlow told Fox News that President Trump does remain optimistic.
Even as Kudlow has regularly promoted the president as a free trader who wants no tariffs, President Trump has repeatedly said he'd be fine with leaving the ones he enacted last year in place.
Trump earlier this month at a Rose Garden press conference boasted that he'd taken 'billions and billions of dollars in tariffs from China, and from others' to the great benefit of the United States.
He said again on Thursday ahead of talks, 'We're taking in billions of dollars. And, frankly, we're creating a lot of industry. But the rate goes from 10 percent to 25 percent on March 1st.
'So they would like to do it, and I'd like to accommodate them. If we can, I'd like to accommodate China if we can get the deal done,' he said.
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Main photo article China will be buying 5 million metric tons of soybeans from the United States as a show of good faith to American farmers, the vice premier revealed on Thursday afternoon as he sat down with President Trump.
The announcement was not planned, U.S. Trade Representative Robert Lighthizer, told...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves Online news HienaLouca
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