Global

Trump To Delay March 1 China Tariffs Amid Trade Talks

Trump To Delay March 1 China Tariffs Amid Trade Talks

Trump's dramatic decision in July to hike duties on Chinese imports split the US business world.

Overall, China's CSI 300 index of large-cap companies is up 22.3 percent for the year to date, or about 11 percentage points more than the USA benchmark S&P 500 index. But unlike the last pause in December, we don't even have a timeline. "Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement", Trump tweeted. So hopefully we can get that completed.

Treasury Secretary Steven Mnuchin also insisted the deal would include a provision to keep Beijing from allowing its currency to weaken in order to circumvent United States tariffs but economists have said the complexities and monitoring of such an agreement would be tough to get on paper.

Trump tweeted that there had been "productive talks" on some of the hard issues dividing the USA and China, adding that "I will be delaying the US increase in tariffs now scheduled for March 1".

Trump approved tariffs on around $200 billion of Chinese imports, including $1 billion in bike products a year ago, with the initial round of tariffs coming in to effect on Monday 24 September, starting at 10%. The future for the Dow Jones Industrial Average was down 0.3 percent at 26,009 and the same measure for the S&P 500 fell 0.2 percent to 2,790. The Russell 2000 index of smaller companies dropped 1.26 points, or 0.1 percent, to 1,588.81.

The president's cancellation of the tariff hike stirred worries among some supporters, who fear he will abort his confrontation with China and settle for a weak deal.

The talks ran from Thursday to Sunday after being extended for an extra two days, . and covered intellectual property protection, technology transfers, currency and other issues.

The two sides also haven't agreed how to enforce any deal. A majority of those surveyed said the growing affluence of China's middle class remains a key opportunity. "I don't count this as a win for American workers". As a result, intra-Asia trade is a good equities bet over the next few years, she said.

"You can attribute much of today's gains to trade", said Lindsey Bell, investment strategist at CFRA.

Earlier this month, the Philadelphia Federal Reserve Bank's manufacturing gauge sank to its lowest level in almost three years, while a separate measure, the flash purchasing managers' index, posted its worst mark in 17 months.

Michael Cohen arrives on Capitol Hill to give Trump testimony
Cohen's highly anticipated appearances begin Tuesday with a closed-door interview before the Senate Intelligence Committee. The president's former right hand man will also describe racist remarks from Mr Trump during their private conversations.

Respondents had ranked improved regulatory transparency and predictability as the top factor to consider in deciding whether to invest further in China, ahead of better intellectual protection and industrial policies that favour Chinese firms.

As late as this past Friday, Trump had planned to levy more tariffs on China.

The President cited "substantial progress" in US-China trade talks over the weekend.

"The extension of the latest round of negotiations and the delaying tariff increase on Chinese imports testify to the sincerity, high attention and sense of urgency of both the Chinese and USA sides", Xinhua reported. Yet they also indicate that there are still some differences that need more time to be ironed out.

The American Chamber of Commerce in China also said that over the past year substantially more of its members want the USA government to push Beijing harder to create a level playing field for US businesses.

The latest developments came after a new round of negotiations between US Trade Representative, Robert Lighthizer and Chinese Deputy Prime Minister Liu He.

"The rally that we've seen over the last two months is unlikely to persist in its current form". Trump did not set a new deadline.

While a third of respondents said tit-for-tat tariffs have started to cause pain, more than half of respondents in a flash survey said they want tariffs to remain in place while trade talks continue, with the hope that this will motivate both sides to "push the ball across the goal line and finish the job", said Mr Stratford. Oil prices fell sharply after President Donald Trump said they were getting too high.

"Popping the champagne today would be premature", Gregory Daco, chief US economist at Oxford Economics, wrote in a research note.


  • The Kardashians Are Blackballing Jordyn Woods Because She Cheated With Tristan Thompson

    The Kardashians Are Blackballing Jordyn Woods Because She Cheated With Tristan Thompson

    We can only imagine she'll be discussing the alleged scandal, but it seems like they want us to tune in to find out. Posting on her Instagram story, Khloe shared a post that read: " People reveal themselves through their actions".
    Olivia Colman Wins Best Actress at Oscars 2019!

    Olivia Colman Wins Best Actress at Oscars 2019!

    Colman had the audience hollering at her natural and self-deprecating charisma (she seriously has a future in stand-up). She played Queen Anne in The Favourite , winning the only award for the film at the 91st Academy Awards .
    Singer R Kelly 'charged with sexual offences'

    Singer R Kelly 'charged with sexual offences'

    He said the girl in the tape is believed to be fourteen years old, but it's still unclear how long ago the video was shot. Kelly and Aaliyah never confirmed the marriage, though Vibe magazine published a copy of the purported marriage license.
  • European Union  chief, British PM May to hold Brexit talks in Egypt

    European Union chief, British PM May to hold Brexit talks in Egypt

    What we are doing as a government is ensuring we are doing everything we can to leave the Europe Union with a deal", she said. She has, however, vowed that the vote will take place by 12 March. "We don't know what amendments are going to be selected".
    Kim boards train to Vietnam

    Kim boards train to Vietnam

    In Vietnam, the Vietnamese, North Korean and American flags were already outside the International Media Centre ahead of the visit.
    The Duke and Duchess of Sussex arrive in Morocco

    The Duke and Duchess of Sussex arrive in Morocco

    Meghan is expected to take part in a Henna ceremony and the couple will then watch a secondary school football match. Meghan Markle and Prince Harry were delayed by a little over an hour after their plane was late taking off .
  • Black Panther Becomes Marvel Studios' First Oscar Winner

    Black Panther Becomes Marvel Studios' First Oscar Winner

    As with Carter, Beachler also gave thanks to Marvel , who she said "lifted us up" every day during the process of making the film. That quest ultimately paid off, and Black Panther became the first superhero film to be nominated for the Oscars' biggest prize.
    Claude Puel sacked by Leicester City

    Claude Puel sacked by Leicester City

    The fans had grown discontent with Puel's conservative style of play and now they have a chance to find a new manager. Puel took over from Craig Shakespeare in October 2017 and the club finished ninth in his first season.
    Lionel Messi seals Barcelona win over Sevilla with 50th career hat-trick

    Lionel Messi seals Barcelona win over Sevilla with 50th career hat-trick

    Messi has scored many fabulous goals against Sevilla down the years but his latest will go down as one of the best. They host Barca in the Copa del Rey semi-final second leg on Wednesday, and again in La Liga on Saturday.
  • Did IAF kill Masood Azhar's brother-in-law Yousuf Azhar in Balakot today?

    Did IAF kill Masood Azhar's brother-in-law Yousuf Azhar in Balakot today?

    This war was fought over Kashmir when Pakistani forces entered the princely state of Jammu and Kashmir. The attack is believed to be the worst against India's military since a rise in insurgency in 1989.
    Pochettino blames disappointment of defeat for heated referee exchange

    Pochettino blames disappointment of defeat for heated referee exchange

    "I needed to calm down, I wanted to find someone to blame, because we can not think now of being a real contender". There was controversy about Wood's goal as it came from a corner which Tottenham felt shouldn't have been given.

    Mahershala Ali Dedicates 2019 Oscars Win to His Grandmother

    While he had potential to be a star on the college court, Ali ultimately made it big in Hollywood earning his second Oscar on Sunday night.