Four big differences that could endanger Trump and Xi's trade deal

US President Donald Trump said the G20 Summit was a success for America’s interests

US President Donald Trump said the G20 Summit was a success for America’s interests

Trump said in exchange for the pause, China intends "to start purchasing agricultural product immediately" after saying in a late Sunday night tweet that Beijing "agreed to reduce and remove" a 40 percent tariff on USA auto imports.

Xi has also agreed to purchase "a very substantial amount" of American goods, including agricultural, energy, industrial, and other products, in an effort to reduce the USA trade deficit with China.

Tweeting on Sunday night, Trump said: "China has agreed to reduce and remove tariffs on cars coming into China from the U.S. now the tariff is 40%".

Trump's surprise announcement comes a day after he and Chinese President Xi Jinping agreed to suspend any new tariffs and give negotiators 90 days to strike a deal.

This is stated in a White house statement following the meeting, the President of the United States of Donald trump and Chinese President XI Jinping.

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Political analysts pointed out that Trump's willingness to start trade talks with China could have resulted from the domestic political pressure he faced, especially in agriculture-dependent states such as Iowa.

Before the meeting with Xi, Trump had set a January 1 deadline for increasing tariffs on $200 billion of Chinese goods from 10% to 25%.

"Trump's latest tweets this morning, which touted the benefits of the agreement for United States farmers and his own prowess as a dealmaker, suggest he will be reluctant to walk away from negotiations for a second time", he said. With little progress made after a year, Trump was planning to hike his tariffs to 25 percent - and maybe even impose tariffs on the remaining $267 billion that China exports to American shores.

"I think there is a specific understanding that we are now going to turn the agreement the two presidents had into a real agreement in the next 90 days", Mnuchin told reporters at the White House on Monday.

"President Xi and I have a very strong and personal relationship".

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Wang said the two presidents agreed to keep in close touch with each other through visits, meetings, phone calls and correspondents to continue providing guidance for the bilateral ties.

In return, Beijing will purchase "very substantial" amount of agricultural, energy, industrial and other products from Washington.

Xi also said that he was open to approving the previously unapproved Qualcomm-NXP deal should it again be presented to him, the White House added. The same goes for Trump who is under pressure from USA lobby groups, who have pointed out that higher tariffs would mean higher costs for American manufacturers, leading to higher prices for United States consumers.

China will "reduce and remove" tariffs on cars coming into China from the United States following a "highly successful meeting" between the two nations leaders at the G20 summit.

Xi avoids further immediate pressure on China's slowing economy, while Trump - scarred by last month's midterm elections that saw the Democrats regain control of the House of Representatives - can ease damage to agricultural U.S. states that export to China, particularly soybean producers.

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The not-so-subtle disparities between the U.S. and Chinese official statements highlight how much a gap needs to closed in the three-month trade war time-out. -China trade deal would immediately allow American farmers to sell more of their products to Beijing. With the White House warning that following the 90 days, with no agreements, the tariffs would rise to 25%, these two questions could possibly play the largest role in China's decisions.

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