Trump says China trade talks ‘going very well’

Trump at the G20 leaders summit in Buenos Aires Argentina

President Donald Trump agreed Saturday to postpone US tariff hikes in a fight over Beijing's technology policy by 90 days while the two sides negotiate.

Calling the talks with the U.S.

In Argentina last weekend, Trump and Xi agreed to a truce that delayed the planned January 1 US hike of tariffs to 25 percent from 10 percent on $200 billion of Chinese goods while they negotiate a trade deal.

China's President Xi Jinping and US President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on 9 November 2017.

China and the US have reached agreement in the sectors of agriculture, autos, and energy, and China will immediately start implementing that consensus, a government spokesman said.

The two sides would also discuss intellectual property protection, technology cooperation, market access and fair trade, and "work hard to reach a consensus", Gao said.

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He also signaled optimism that President Xi Jinping would deliver on his promise, after their meeting in Argentina. One Chinese official said officials were "waiting for the leaders to return" before publicising details.

China and the US have highly overlapping interests in economic and trade issues and share complementarity in structural demands, MOC spokesman Gao Feng told a press briefing.

But Trump again sought to paint the talks in a more positive light, highlighting a report from Bloomberg that "Chinese officials have begun preparing to restart imports of U.S. Soybeans & Liquified Natural Gas" that were put on hold as a result of the president's initial tariffs.

China and the United States have been engaged in a trade war after Trump announced in June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit.

"Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina", Trump tweeted.

President Trump is expected to put more pressure on China to correct the trade imbalance and deal with the issue of violation of intellectual property rights.

Asked about Trump's statement that Beijing would cancel tariff hikes on US -made autos, Gao referred reporters to the Cabinet's tax commission.

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