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Chinese Ministry of Commerce: We will sign the trade deal in Washington next week


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Trump: We are nearing completion of the partial trade agreement with China

Trump: We are nearing completion of the partial trade agreement with China

 26 November 2019 10:24 PM
Direct: US President Donald Trump said that the United States and China on the verge of agreement on the first phase of the deal business with the continuation of the talks between the two biggest economies in the world.

Earlier in the day, Beijing said it had reached consensus on resolving controversial points in trade with Washington.

Trump said in remarks to reporters at the White House on Tuesday that Washington is in the final stage of reaching a very important deal, noting: "I think it is one of the most important deals in trade at all."

Trump said: "Things are going well but at the same time we want to see that it is going well in Hong Kong."

The US president reiterated Washington's support for demonstrators in Hong Kong, also at a major point of disagreement with China away from trade.

 

China said it had summoned US Ambassador Terry Branstad on Monday to protest against the US Congress's passage of the Human Rights and Democracy Act in Hong Kong, saying the bill was an interference in China's domestic issue.

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Will Trump resort to a dollar weapon in his battle with China?

Will Trump resort to a dollar weapon in his battle with China?

 30 November 2019 02:53 PM
Edit: Noha copper

Direct: The recent agreement to launch an initial deal between the United States and China was considered an important step towards a comprehensive agreement to end the year-long trade war.

But Paula Supaci, a professor at Queen Mary University in London, says in an analysis published by Project Syndicate that anyone who thinks US President Donald Trump is ready to abandon his anti-China policy should think again.

The Trump administration is already moving to launch another war on China, but this time it is targeting financial flows.

In a broadly integrated global economy, trade and finance are two sides of the same coin, and large-scale commercial transactions rely on a well-functioning international payment system and a network of strong financial institutions willing and able to provide credit.

This strong financial structure is built on the basis of the US Dollar, the most liquid and tradable currency around the world.

The status of the US dollar as the world's leading reserve currency has given the United States what former French finance minister Valery Giscard d'Estaing called a “high price”, as the United States can print money at little cost and use it to buy goods and services globally, but with the opening of global capital markets, The United States has also gained a hefty privilege from the rest of the world.

Today, 80 percent of world trade is settled using the US dollar, and most international transactions are terminated through the US financial system.

Around 16 million payment orders are transmitted daily through the European-American community through the global financial communications network of banks, and thus US restrictions on capital flows have far more far-reaching effects than any commercial tariff, whereas their enforcement only requires the use of the International Economic Power in Emergencies Act 1977 .

That law allows the US president to declare a national emergency and a set of economic tools to respond to unusual threats.

The International Economic Power in Emergencies Act was the legal basis for many US sanctions programs, with presidents widely using them to ban transactions and freeze assets.

In the 1980s, for example, President Ronald Reagan issued an executive order under the umbrella of this law to ban payments to Panama after the coup there enabled Manuel Noriega to take power.

US President Donald Trump has used the law several times to justify tariffs on imports from Mexico, and to assert his authority to prompt US companies to start looking for an alternative to their business in China.

He also used it in an effort to topple Venezuelan President Nicolas Madroa by freezing the assets of the PDVSA.

Trump has used the sanctions to prevent US investors from buying any Venezuelan government-owned debt or trading on the shares of any entity in which it holds a controlling stake.

Meanwhile, Trump gave Juan Guaido, the US-backed interim president of Venezuela, access to Venezuelan government assets held by the US government since President Barack Obama's freeze in 2015.

Contrary to popular belief, Trump did not impose more sanctions than his predecessors, but devised certain innovative ways, usually benefiting from disproportionate US financial effectiveness to ensure that his administration's measures do maximum damage regardless of third-party effects.

Similarly, Russia faces not only a ban on transactions and asset freezes, but also reduced access to the US banking system and exclusion from contract purchases.

China, already plagued by declining exports, low investment, weak consumption and slowing economic growth, appears to be Trump's next target.

According to press reports, the DRAMP administration is considering restricting US portfolio flows to China, including banning pension funds from investing in Chinese capital markets, removing Chinese companies from the US stock market, and limiting their access to US-managed equity indices.

However, how these goals can be achieved is not yet clear. It is not easy.

But the lack of a well-defined strategy has never stopped Trump before, especially when it comes to using economic instruments to advance geopolitical goals.

That approach might work in the short term, but it would certainly follow the Trump administration's attempts to use the US dollar as a weapon, undermining global confidence in US dollar-denominated assets.

Thus, how many foreign companies would be willing to list on the US stock exchange knowing that they might be written off as desired? How many non-residents in the United States would keep their assets in US banks if any geopolitical skirmishes could freeze them?

With growing mistrust in the United States, the impetus for IMF reform, advocated by China over the past decade, will gain momentum. 

This could mean expanding the international role of other currencies, such as the euro or the Chinese yuan, and could lead to the creation of an alternative monetary system that focuses on the needs of developing countries, especially oil and commodity exporters.

Confused with economic interests and national security, Trump encourages the divide between the world's two largest economies and the emergence of a bipolar world order, as well as the fragmentation of the commercial and financial system that has supported the global economy for decades, meaning that the arena will be ready for a devastating conflict.

 
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  • yota691 changed the title to Trump: US stocks have gained 21% since tariffs were announced

Trump: US stocks have gained 21% since tariffs were announced

Trump: US stocks have gained 21% since tariffs were announced

 02 December 2019 05:20 PM
Direct:  US President Donald Trump said that the stock market in the United States won wide gains since the announcement of the imposition of tariffs on China and other countries.

Trump said in a tweet posted on his official account on the social networking site "Twitter", on Monday, that the US stock markets rose by about 21 percent since the announcement of tariffs on March 1, 2018.

Since then, trade tensions have plagued all global markets, casting a shadow on the growth of the global economy.

 

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The " Dow Jones " record in November the best monthly performance since June last gains of almost a thousand points.

Trump said the United States is making huge amounts of money from these tariffs, some of which are given to US farmers targeted by China.

The US president decided on Thursday to resume tariffs on imports of steel and aluminum from Brazil and Argentina after accusing the two countries of manipulating the local currency.

Saw relations between the two largest economies around the world in the past week , deteriorated sharply after the intervention of the United States in the internal affairs of China as far as the latter described the fact that Hong Kong legislation that infringes on the sovereignty of the Asian financial center.

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Trump: Trade deal better postponed after 2020 election

Trump: Trade deal better postponed after 2020 election

 03 December 2019 01:57 PM
Direct: US President Donald Trump believes that it might be better to wait for after the presidential election in 2020 in order to sign a trade deal with China.

"In a way, I prefer the idea of waiting until after the election for a deal with China, but they want to make the deal now," Trump said in comments to reporters from London on the back of NATO meetings on Tuesday.

He continued: "We will think whether the deal will be appropriate or not."

The first phase of the trade deal, which was reached at the beginning of October last month, was due to be signed during the US president's meeting with his Chinese counterpart at the Chile summit before its cancellation.

Relations between the world's two largest economies also saw political tensions last week after US law supporting the rights of protesters in Hong Kong, a Chinese-ruled city.

When asked about a specific deadline for the deal, he said: "There is no deadline, and somehow I think it is better to wait after the elections, if you want to know the truth."

Washington and Beijing have imposed multi-billion dollar tariffs on mutual goods since the beginning of 2018, sparking turmoil in global financial markets and damaging consumer and business confidence.

The US presidential election round is scheduled for November 2020.

 
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US: Appropriate trade agreement with China more important than timing

Economy | 02:36 - 04/12/2019

 
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Follow - up - the balance of News
rejected US Secretary of Commerce and Wilbur Ross identify any deadline for a deal trade with China launched a new attack on the telecom giant Huawei, which increases the receding hopes at the end of trade war continuing situation since 17 months have slowed global growth.
Ross said in an interview with Reuters on Tuesday that a trade deal with China would be more in the United States' favor than hurrying and a deal by the end of this year or even next year.
He said the world's two largest economies still needed to work out details about China's purchase of agricultural products, some structural issues and an enforcement mechanism to sign an interim trade agreement that President Donald Trump had hoped to conclude last month.
Trump said in remarks from Europe on Tuesday that the interim trade agreement with China could wait until after the US presidential election in November 2020, prompting financial markets to fall.
In a broader interview during a visit to New York, Ross said: “The point he was trying to make is that we need an appropriate agreement, and whether it comes in December, next December or any other date is far less important than reaching Appropriate agreement ”.
He attacked Huawei, saying the Chinese company, which the US government blacklisted in May, was encouraging its suppliers to violate US law by telling them to move their operations out of the country to avoid US sanctions.

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Agency: Washington and Beijing are approaching the trade deal

Agency: Washington and Beijing are approaching the trade deal

 04 December 2019 01:05 PM
The United States and China are close to agreeing on how much tariffs will be canceled in the first phase of the trade deal, despite political tensions over Hong Kong, according to a recent report.

US President Donald Trump has said it may be better to wait until after the 2020 presidential election until the deal is signed with China.

A report published by Bloomberg, citing sources familiar with the talks between the two sides, on Wednesday, that Trump's comments on the postponement of the deal is not supposed to explain that the talks will be disrupted.

The report noted that the United States expects to complete the deal before the implementation of the planned tariffs on December 15, despite the outstanding issues at the moment.

He said the outstanding issues were how to ensure the purchase of US agricultural products by China and the size of tariffs that the United States will retreat.

Last week saw strong tensions between the two largest economies around the world politically, raising concerns about trade conditions.

 
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Trump's advisor: The business deal is close but we will not accept it without guarantees

Trump's advisor: The business deal is close but we will not accept it without guarantees

 06 December 2019 08:01 PM
Mubasher: The White House's chief economic advisor said the partial trade deal with China is close, but Washington will not accept it if it is not good.

He added, "Larry Kudlow" in comments with the network "CNBC" America, on Friday, that "US President Donald Trump has stressed several times that if Washington is unable to obtain enforcement measures and assurances regarding the commercial deal, we will not move forward. ".

The two countries are in talks to finalize the first stage of the trade deal, with customs tariffs approaching 15 percent of Chinese imports valued at $ 165 billion, coming into effect on December 15.

"The deal is close, perhaps closer than it was in the middle of last month," Kudlow said.

"The vice officials met again, and the truth is almost constructive and daily talks," Trump's adviser explained.

Kudlow emphasized that there is no specific date for the signing of the partial trade agreement, but stated that December 15 is a very important date with regard to not imposing or applying tariffs.

 
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China hopes to reach a trade agreement with America at an early date

Economy | 12:06 - 09/12/2019

 
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Follow-up - Mawazine News
China said on Monday that it hoped to reach a trade agreement with the United States as soon as possible amid intense talks before imposing new customs duties on imports from China as scheduled mid this month.
Ren Hongbin, assistant minister of commerce, told reporters on Monday that Beijing hoped to reach an agreement that would satisfy both parties soon.
"As far as Sino-US trade talks and negotiations are concerned, we hope that the two parties, on the basis of equality and mutual respect, can push the negotiations forward, bearing in mind the basic interests of each of them to reach an agreement that satisfies all parties as soon as possible," he said.
China and the United States are negotiating a so-called “stage one” agreement aimed at defusing the existing trade dispute, but it is not clear if such an agreement will be concluded in the short term.
China is demanding the abolition of the current fees imposed by the United States on goods worth $ 375 billion imported from China, as well as the abolition of fees due to be imposed on December 15 on the rest of its exports to the United States, amounting to $ 156 billion.
US President Donald Trump called on China to make a minimum purchase of US agricultural products and other concessions on intellectual property rights and open financial services markets in China. Ended 29 / s

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Report: Washington considers postponing tariffs against China

Report: Washington considers postponing tariffs against China

 December 10, 2019 7:03 PM
Mubasher : A press report revealed that the United States plans to postpone the imposition of tariffs on Chinese goods, due to take effect next Sunday.

The Wall Street Journal quoted unnamed sources Tuesday as saying that negotiators from the United States and China are laying the groundwork for President Donald Trump's administration to postpone a 15 percent tariff on nearly $ 160 billion in Chinese goods.

The report added that Washington is seeking to ensure the commitment of China to purchase more American agricultural products.

Uncertainty remains regarding the first stage of the trade deal between China and the United States, which will have a major impact in delaying the tariffs due next Sunday.

US President Donald Trump has stated that it is better to postpone the conclusion of a trade deal with China until after the 2020 presidential election.

 
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China: We have close contacts with Washington on trade

China: We have close contacts with Washington on trade

 December 12, 2019 01:59 PM
Mubasher: The Ministry of Commerce of China has said that it has close contacts on trade with the United States, as the deadline for a new round of tariffs approaches.

A Chinese ministry spokesman, Gao Feng, said at a regular conference today, Thursday, that the economic and trade teams from both sides maintain close contacts, quoting Reuters.

Chinese goods worth $ 160 billion are due to be subject to new US tariffs starting next Sunday.

A media report had indicated that US President Donald Trump is expected to hold a meeting with trade advisers today to discuss this move

Earlier, China had threatened to take retaliatory measures if the United States escalated the trade dispute.

 
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Report: Washington and Beijing agree in principle on partial trade deal

Report: Washington and Beijing agree in principle on partial trade deal

 December 12, 2019 11:14 PM
Mubasher : According to a press report, the United States has tentatively reached an agreement with China regarding the first stage of the trade deal.

The network "CNBC" quoted unnamed sources on Thursday that the White House had offered to cancel the next round of tariffs on Chinese goods that will come into effect on Sunday.

The report added that the United States proposed cutting current tariffs on Chinese products by $ 360 billion.

Another report by "Bloomberg" agency also indicated that the United States and China reached an agreement on the partial trade deal in principle and awaiting the approval of President Donald Trump.

The report added that Trump is scheduled to meet with top trade advisers later in the day to determine the final position on imposing 15 percent tariffs on Chinese goods worth $ 160 billion.

Earlier in the day, US President Donald Trump said that Washington was very close to concluding a trade deal with China.

 
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Trump announces details of the first stage of the trade deal with China

Trump announces details of the first stage of the trade deal with China

 December 13, 2019 6:50 PM
From: Sally Ismail

Direct: U.S. President Donald Trump announced his country’s agreement on the first stage of the trade deal with China, with the tariffs slated to enter into effect this weekend.

"We agreed on a very large first stage of the trade deal with China," Trump wrote in a tweet on Twitter, on Friday.

 

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He added that China has agreed to many structural changes in addition to purchasing huge quantities of agricultural products, energy and American manufactured goods, in addition to many others.

The US president said that the tariffs of 25 percent on Chinese products will remain the same.

He continued, "But the increase in the punitive tariffs that will take effect on December 15th will not be imposed."

He attributed this to "the fact that we concluded the deal."

Trump added that the two sides would immediately start negotiations on the second phase of the trade deal rather than wait for after the presidential election in 2020.

"This is a great deal for everyone, thank you," he wrote.

 

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Updated .. the US dollar is changing globally with trade developments

Updated .. the US dollar is changing globally with trade developments

 December 13, 2019 9:54 PM
Direct: The US dollar turned higher against a basket of major currencies from the lowest level since last June during Friday's trading, with a focus on the details of the trade deal.

The United States and China announced agreement on the first stage of the trade deal, with the removal of the tariffs that are due to enter into force next Sunday.

But US President Donald Trump stressed that the tariffs of 25 percent on Chinese goods will remain intact in order to pressure China into negotiating the second phase of the trade deal.

Today's economic data revealed that retail sales in the United States increased less than expected, while US import prices rose at the fastest pace in 6 months.

By 6:45 pm GMT, the greenback was up 0.1% against its European counterpart, pushing the euro down to $ 1.1121.

While the dollar stabilized against the Japanese currency, recording 109.29 yen.

While the green paper lost about 1.3 percent of its value against the British pound, the British currency rose to the level of 1.3332 dollars.

The results of the British elections showed that the Conservative party won a majority, which paves the way for passing the Brexit deal and then completing the process of leaving the European Union on the specified date.

Meanwhile, the US dollar fell against the Swiss franc, 0.08 percent, to record 0.9842 francs.

As for the main dollar index, which tracks the performance of the American paper against a basket of major currencies, it rose about 0.1 percent to 97.219 

The green paper recorded the level of 96.719 earlier in trading, the lowest reading since late last June.

 
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Trump: Remaining tariffs on China will push it to continue trade talks

Trump: Remaining tariffs on China will push it to continue trade talks

December 13, 2019 10:42 PM
Direct : US President Donald Trump said that the remaining tariffs on China will pay it to seek the second stage of the trade deal. 

"China wants to start talks on the second phase of the trade deal immediately and that's what we want," Trump told reporters at the White House on Friday.

The US President announced earlier in the day that Washington and Beijing reached an agreement on the partial trade deal with the abolition of the American tariffs that would come into effect next Sunday, in exchange for China buying more agricultural products from the United States.

But the US president made it clear that the 25 percent tariff on Chinese goods will remain the same.

The US president indicated that it is possible that China will buy $ 50 billion in US agricultural products after Washington and Beijing announced the initial trade agreement.

 
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14 hours ago, yota691 said:

The US president indicated that it is possible that China will buy $ 50 billion in US agricultural products after Washington and Beijing announced the initial trade agreement.

 

Pure fantasy... That's double what we export to the entire world.... Who believes this stuff?

 

B/A

 

Beijing has committed to buying $32 billion more in farm products over the next two years, or about $16 billion a year, U.S. Trade Representative Robert Lighthizer told reporters at the White House, on top of a baseline of $24 billion in Chinese purchases in 2017. In addition, Beijing said it would make a big effort to spend an additional $5 billion a year.

https://www.yahoo.com/finance/news/u-phase-china-tariffs-beijing-153122949.html

 

The phase-one agreement included a commitment from China to purchase more American agricultural products, which it had placed steep tariffs on last year to retaliate against the Trump administration.

But both sides declined to confirm the $50 billion quota Trump has touted. That would be more than double the value of soybeans, corn, and other farm products China imported from the US in 2017.

https://markets.businessinsider.com/news/stocks/trump-us-china-trade-war-interim-agreement-lower-chinese-tariffs-2019-12-1028762705

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Major currencies await details of the US-China trade agreement

Economy | 01:03 - 16/12/2019

 
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Follow-up - Mawazine News

Trade-affected currencies such as the Australian and New Zealand dollars fell on Monday as the relief that followed the U.S.-China trade deal receded amid frustration over the lack of agreement details and reluctance to place large bets as Christmas approaches.

Sterling continued to outperform other currencies in the wake of the overwhelming victory of Prime Minister Boris Johnson's Conservative Party in the elections while the euro rose ahead of important data for corporate activities.
The trade war between Washington and Beijing calmed down last week with a cut in US fees in exchange for what US officials described as a big jump in Chinese purchases of US agricultural products and other goods.
The Australian dollar recorded $ 0.6874, down from the highest level in four months of $ 0.6939.
The New Zealand dollar fell 0.5 percent to $ 0.6596 after it rose to $ 0.6939 at some point on Friday, the highest level in four months.
The euro increased slightly to $ 1.1133 as European interest shifted to the primary data for corporate activities in the single currency area.
The dollar rose slightly to 109.45 yen, although the dollar index, which measures the performance of the US currency against a basket of currencies, fell about 0.2 percent to 97.00.
Markets are awaiting the accurate details of the trade agreement that has not yet been signed.
The sterling rose again to the peak levels recorded on Friday against the dollar and the euro, amid expectations that the Conservative party's victory in the elections would end the state of uncertainty about the withdrawal from the European Union in the short term.
In its latest dealings, sterling recorded 1.3380 dollars, up 0.4 percent. It ended 29 / p

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  • yota691 changed the title to Major currencies await details of the US-China trade agreement
2 hours ago, yota691 said:

Major currencies await details of the US-China trade agreement

Economy | 01:03 - 16/12/2019

 
image
 
 

 

 

Follow-up - Mawazine News

Trade-affected currencies such as the Australian and New Zealand dollars fell on Monday as the relief that followed the U.S.-China trade deal receded amid frustration over the lack of agreement details and reluctance to place large bets as Christmas approaches.

Sterling continued to outperform other currencies in the wake of the overwhelming victory of Prime Minister Boris Johnson's Conservative Party in the elections while the euro rose ahead of important data for corporate activities.
The trade war between Washington and Beijing calmed down last week with a cut in US fees in exchange for what US officials described as a big jump in Chinese purchases of US agricultural products and other goods.
The Australian dollar recorded $ 0.6874, down from the highest level in four months of $ 0.6939.
The New Zealand dollar fell 0.5 percent to $ 0.6596 after it rose to $ 0.6939 at some point on Friday, the highest level in four months.
The euro increased slightly to $ 1.1133 as European interest shifted to the primary data for corporate activities in the single currency area.
The dollar rose slightly to 109.45 yen, although the dollar index, which measures the performance of the US currency against a basket of currencies, fell about 0.2 percent to 97.00.
Markets are awaiting the accurate details of the trade agreement that has not yet been signed.
The sterling rose again to the peak levels recorded on Friday against the dollar and the euro, amid expectations that the Conservative party's victory in the elections would end the state of uncertainty about the withdrawal from the European Union in the short term.
In its latest dealings, sterling recorded 1.3380 dollars, up 0.4 percent. It ended 29 / p

Here's to hope. 

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China: Contacts with Washington regarding the signing of the first phase of the trade deal

China: Contacts with Washington regarding the signing of the first phase of the trade deal

 December 19, 2019 2:04 PM
Direct: The Chinese Ministry of Commerce said Beijing and Washington are in close contact with the signing of the first stage of the trade deal.

A spokesman of the Ministry of Commerce "Gao Feng" said during a press conference today, Thursday, that both trade teams from the American and Chinese sides are in close contact, quoting Reuters.

He indicated that he does not consolidate specific information about the deal to disclose it at this time.

The trade deal is to include reducing US tariffs on Chinese goods in exchange for increased purchases of Beijing from agricultural products, energy and manufactured goods in the United States.

The two sides had reached an agreement on the details of the first stage of the deal hours before a new round of US fees came into effect on December 16, which, according to the agreement, was dropped.

And US officials said last week after the deal was reached that China had agreed to increase purchases of US products and services by at least 200 billion dollars within the next two years.

The Chinese Ministry of Finance announced earlier today a new list of US goods that will be exempt from duties, including 6 products that are scheduled to be exempt from tariffs starting on December 26.

 
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President of China: The initial trade deal will benefit Beijing, Washington and the world at large

President of China: The initial trade deal will benefit Beijing, Washington and the world at large

 December 20, 2019 10:25 PM
Direct: Chinese President Xi Jinping said that the initial trade deal between China and the United States would benefit both sides and the world at large.

In a phone call to his US counterpart Donald Trump, on Friday, the Chinese president indicated that Washington and Beijing reached a first-stage agreement on the basis of the principle of equality and mutual respect, according to the Xinhua News Agency.

US President Donald Trump said he had had good talks with his Chinese counterpart on the trade deal earlier in the day.

The US Treasury Secretary said in statements yesterday that he is confident that the initial trade deal will be signed next month.

Xi added that in a highly complex international environment, the agreement benefits China and the United States, as well as peace and prosperity throughout the world.

While the Chinese president expressed fears of the United States interfering in its internal affairs regarding the Hong Kong protests.

 
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18391.jpg
US President Donald Trump at the White House in Washington. Reuters
  

 Arab and international


Economy News - Baghdad

US President Donald Trump said that the United States and China will sign a preliminary trade agreement "very soon".

"We have made a breakthrough on the trade agreement and we will sign it very soon," Trump said in Florida.

What is known as the one-stage agreement was announced earlier this month as part of efforts to end the ongoing trade war between the two largest economies in the world for months, which led to market turmoil and affected global growth.

Under the agreement, the United States agreed to reduce part of the tariffs on Chinese goods in exchange for a significant increase in China's purchases of US agricultural products.

Last week, Treasury Secretary Stephen Mnuchin said the agreement would be signed in early December, adding that the agreement had already been translated and was being revised technically.


Number of views 19   Date added 22/12/2019

 
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  • yota691 changed the title to Chinese Ministry of Commerce: We will sign the trade deal in Washington next week

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