White House trade adviser Peter Navarro on the trade truce between the US and China.
China has said that Beijing and Washington will push forward with trade negotiations in the next 90 days and it is confident that an agreement can be reached but doubts remain over whether the two sides can resolve their deep differences. USA markets were closed on Wednesday to observe former President George H.W. Bush's death, but the effect of Wall Street's turmoil the previous day was felt in Europe and Asia with the benchmark Shanghai stock index closing down 0.6 percent.
The remarks, by the Chinese Commerce Ministry, follow a period of relative quiet from Beijing after Trump and Chinese leader Xi Jinping reached a temporary truce in their trade war at a meeting over dinner in Argentina on Saturday.
Trump, in a post on Twitter, linked Beijing's silence to officials' travels and said he thought Xi had been honest during their weekend meeting to hammer out progress over trade.
"The economic and trade teams of the two sides will actively promote the consultation work within 90 days in accordance with a clear timetable and road map", the officials said.
Chinese State Councilor Wang Yi told reporters, "The two presidents agreed that the two sides can and must get bilateral relations right".
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But National Security Adviser John Bolton said Tuesday that there should be another summit with Kim. The latest CNN analysis is in addition to these past reports.
Those 10 percent tariffs were scheduled to ratchet up to 25 percent on January 1 if the US and China failed to reach an agreement to at least postpone that move.
According to agreement, China agreed to buy a "very substantial" amount of agricultural products, industrial, energy and some others too from the USA in order to reduce the trade gap in-between countries, and also China agree to purchase farm products "immediately" from U.S., the White House said.
"Narrow agreements and modest concessions in the ongoing trade dispute will not bridge the wide gulf in their respective economic, political and strategic interests", Moody's Investors Service said in a report that predicted U.S.
Keane also said that the Chinese leader intends to overtake the United States as a global leader in the world.
U.S. liquefied natural gas was also absent from China's shopping list in October, following Beijing's move in September to impose a retaliatory 10 per cent tariff on USA supplies. China's government has been slow to formulate its response to the summit as senior officials were still out of the country with Xi, Bloomberg News reported.