Trump is leading US trade negotiations with China: Mnuchin

Daimler AG CEO Dieter Zetsche will be attending the White House meeting. — Reuters pic

Trump claims 'BIG leap forward' in China trade talks, but details unclear

Trump said on Twitter Monday that he had negotiated a temporary tariff ceasefire with China and that a permanent deal was forthcoming, but official comments from the White House and from Beijing contradicted, or at least tempered, the president's announcement.

While Washington touted the immediate increase in Chinese purchases of U.S. agricultural products, Beijing's statement was much more open, with no reference to immediate or agricultural products.

Several analysts and experts have weighed in on the G20 summit and its impact for investors.

China issued an upbeat but vague promise Wednesday to carry out a tariff cease-fire with Washington but gave no details that might dispel confusion about what Presidents Xi Jinping and Donald Trump agreed to in Argentina.

One Chinese official said officials were "waiting for the leaders to return" before publicising details.

Diess said he thought the companies had "made a big step forward to avoid the tariffs".

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Tigress Financial analyst Ivan Feinseth said Xi is starting to feel the trade war heat and may be more motivated to negotiate than he was in the past.

Trump has made improving the terms of trade for the United States a signature of his "America First" presidency and has prided himself on confronting Beijing over trade practices that the United States and its allies complain are unfair.

The Ministry said that the recent meeting of U.S. President Donald trump and Chinese President XI Jinping was successful.

China retaliated by raising its own charges on US imports.

Executives from the three automakers were invited to individual meetings with Trump's top economic advisers to discuss investment opportunities in the United States, including in manufacturing and research and development, the White House said.

Among the conflicting assertions that White House officials made was over whether China had actually agreed to drop its 40% tariffs on USA autos. In his tweets, the president said his advisors will work on "seeing whether or not a REAL deal with China is actually possible". The paper's editor-in-chief, Hu Xijin, also tweeted and posted on Weibo that it was just a truce, and that tariffs would still be levied if there was no lasting deal.

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China retaliated against key United States soybeans with a 25 per cent tariff since July, which caused exports to drop nearly to zero in August and September compared to those months in 2017.

Former U.S. State Department official Mintaro Oba said the fact that Trump's statements about the meeting don't match the official White House version of what happened at the G20 means Trump's claims should be taken with a grain of salt.

The Dow Jones Industrial Average slumped almost 800 points Tuesday as investors realized that the agreement between Trump and Xi may not stave off hostilities for long.

The Commerce Ministry spokesman, Gao Feng, said Thursday that talks will start by focusing on trade in farm goods, energy and cars. (NASDAQ: FB), Alphabet, Inc.

The outcome wasn't the result of a "significant change" by China, Louis Kuijs of Oxford Economics said in a report. (NASDAQ: QCOM) and NXP Semiconductors NV (NASDAQ: NXPI) is good news, but not necessarily for NXP. Ultimately, I believe, we will be making a deal - either now or into the future.

He told reporters that China had said it was willing to "expand imports according to the needs of its domestic market and people, including importing marketable products from the gradually ease the trade imbalances", adding that both sides had agreed to open their markets to each other.

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The Dow dropped 799 points, or 3.1 percent, amid fears of an economic down turn that could come out of a failed deal to end the trade war with China.

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