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China prepares to resume LNG and soybean imports from the US

China prepares to resume LNG and soybean imports from the US

China's Commerce Ministry did say on its website that it would begin "implementing specific issues on which consensus has been reached", but the vague statement included no details.

The two sides have a "clear timetable and road map" for talks, the ministry statement said, but gave no details.

"China will start with the implementation of the specific matters in which consensus has been reached, the sooner the better", it added, without providing more details. The two countries have now agreed to a 90-day truce to work out a broader trade deal.

"I think that if you put the two press releases together, you can see what basically happened", Cui Tiankai told Reuters in Washington on Monday after returning from Buenos Aires, where he had joined Xi's delegation.

He had earlier also indicated that the deadline for an agreement could be extended.

China has swung into action to start delivering on the trade commitments that led to its weekend truce with the USA, even as uncertainty over what was agreed lingers.

China expressed confidence on Wednesday that it can reach a trade deal with the United States, a sentiment echoed by U.S. President Donald Trump a day after he warned of more tariffs if the two sides could not resolve their differences.

What exactly will China buy? "But if not remember, I am a Tariff Man", Mr Trump said on Twitter. 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.

During the talks in Buenos Aires, Trump agreed to delay a scheduled escalation in United States tariffs on many Chinese goods, from 10 percent to 25 percent, that had been set to take effect January 1.

Su told Xinhuanet that cooperation is the best option for both China and US, and both sides should jointly advance bilateral relations with coordination, cooperation and stability as the defining features.

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On Wednesday, Trump cited reports that China was preparing to import more soybeans and liquified natural gas, as proof that his deal was working.

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

It was the first official confirmation from China that there is a 90-day window for the talks.

Trump has threatened to impose tariffs worth a further $US200 billion on Chinese imports unless China makes it easier for U.S. companies to do business there.

The Chinese regime is getting ready to resume imports of USA soybeans and liquified natural gas (LNG), Bloomberg reported, in a move confirming the Trump administration's claim that China had agreed to "immediately" start purchasing some US products.

China is fully confident that it can reach a trade deal with the USA within the 90 days set for talks, Gao said.

Also, China's commerce ministry made no mention of the auto tariff cuts which Mr Trump said earlier this week China had agreed to.

Washington also expects China to promptly address structural issues including intellectual property theft and forced technology transfers, United States officials have said.

The two leaders, who met on the sidelines of a Group of 20 summit in Argentina, also made a decision to hold off on new tariffs and give negotiators three months to strike an agreement. That timeline could be too tight to make progress on contentious issues such as China's policies on technology transfers, intellectual property right protections and state-sector subsidies.