China said to agree to auto tariff cut as trade talks continue

US China Set to Take Action Against Each Other as Tensions Rise

United States officials later said they wanted to see China move to reduce the vehicle tariffs "immediately" as a sign that negotiations would proceed in good faith.

This month in Argentina, President Trump and Chinese President Xi Jinping agreed to a truce that delayed the planned January 1 US increase of tariffs to 25 percent from 10 percent on $200 billion worth of Chinese goods. Articles appear on euronews.com for a limited time.

It is a step toward cooling the rising trade tensions between the two countries, but its actual effect on USA automakers may be limited, said Kristin Dzichek, an analyst with the Center for Automotive Research.

Trump agreed to leave tariffs on $200 billion worth of Chinese imports at 10 percent at the beginning of the new year rather than raise them to 25 percent as previously planned.

Meng was arrested December 1 in Vancouver on US charges related to possible violations of trade sanctions on Iran.

The dispute has prompted the USA and China to impose new tariffs on billions of dollars worth of annual trade this year, measures that have contributed to economic worries in both countries.

"Bulls & Bears" panel discuss whether U.S.

"China has revealed two cards by lowering import tariffs on cars and buying American soy beans, but [US president Donald] Trump has yet to do so", she said.




The trade war has taken a toll on vehicle companies that manufacture in the U.S., with the makers of Mercedes-Benz and BMW both warning of lower profits this year as tariffs forced them to hike prices in China.

USA soybean farmers had long seen China as a favorite destination-for their crops.

He said the U.S. wants China to buy more from the United States, but "much more importantly are the structural issues" including forced transfer and theft of American technology, "cyber intrusions", and "state directed investment".

The lack of sales has left U.S. farmers in a rough spot. USA business executives are now bracing for further retaliation from China due to Meng's arrest.

The office of the US Trade Representative, which is leading the discussions, did not respond to a BBC request for comment.

China reportedly bought more than 500,000 tons of U.S. soybeans, worth around $US180 million.

The 25 percent tariff on US soybeans Beijing imposed on July 6 remains in effect. There was no record of major Chinese purchases on Tuesday in the market or in daily export data. Futures in Chicago tumbled as a result, while the 2018 harvest had been piling up, unsold, in silos, bins and bags across the U.S. Midwest.

"I think they're looking to do it immediately, very quickly", he said in the interview. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. It is not a solicitation to make any exchange in commodities, securities or other financial instruments.

Related news:

Hot News

isis-killer-beheading-video-story-top Shocking deaths top Google's trending searches in 2018
Dec 14, 2018 - 07:38
The top five list includes "supermarkets near me", "gas stations near me", "cashpoint near me", and "car dealers near me". As a result, most of the top results are big stories and events that came out of nowhere or only happen every few years.

isis-killer-beheading-video-story-top Chinese Hackers Are Likely Responsible For Marriott Data Breach, Reports Say
Dec 13, 2018 - 23:47
In the last few months, the Justice Department has filed several charges against Chinese hackers and intelligence officials. The United States is also seeking the extradition of the chief financial officer of Chinese tech giant Huawei .

isis-killer-beheading-video-story-top French police try to catch Christmas market attack suspect dead or alive
Dec 13, 2018 - 23:44
The Europhonica radio consortium said Antonio Megalizzi, 28, was in Strasbourg to follow the session of the European Parliament . Strasbourg resident Tassia Konstantinidis said "it's important to have a period of mourning and to remember the victims".

isis-killer-beheading-video-story-top Kotak positive on GAIL, ONGC after OPEC production cut decision
Dec 13, 2018 - 22:56
Oil producers were under heavy pressure to slash production following a sharp fall in oil prices over the past few months. Its oil production level of 11.4 million barrels per day will be reduced by about 2 percent, to 228 thousand barrels.

isis-killer-beheading-video-story-top Oil Prices Jump Over 4% As OPEC Reaches Production Cut Deal
Dec 13, 2018 - 06:28
Hook, after all, is the person in charge of the waivers that Washington has granted to a handful of Asian buyers of Iranian crude. The next day, OPEC did not reach an accord among themselves and broke without a deal for the first time in almost five years.

isis-killer-beheading-video-story-top China increases pressure on US, Canada over Huawei executive's arrest
Dec 11, 2018 - 04:07
In court Friday, Canadian prosecutor John Gibb-Carsley said that a warrant had been issued for her arrest in NY on August 22. Meng Wanzhou, Huawei's deputy chairwoman and CFO, is wanted by the US for allegedly violating trade sanctions against Iran.

isis-killer-beheading-video-story-top Dolphins' 'Miami Miracle' Double-Lateral Game-Winning Touchdown Upsets Patriots
Dec 11, 2018 - 04:05
The Dolphins move to a disappointing 7-6. "That's the way we substituted for that group", Belichick said. Several Dolphins players said they worked on "Boise" every week, and did so most recently on Friday.

isis-killer-beheading-video-story-top Power grab in Wisconsin and MI is an assault on democracy
Dec 11, 2018 - 03:49
The legislation to execute the voting-related ballot measure also drew objections from proponents of the initiative. In our partisan era, "if there's no political repercussion, there's really no incentive not to do this".

isis-killer-beheading-video-story-top Meghan Markle makes surprise appearance at British Fashion Awards
Dec 11, 2018 - 03:46
Keller won the award for British Womenswear Designer of the Year and thanked the Duchess of Sussex on stage for working with her. To have someone like that trust you on such a personal moment in their life.

isis-killer-beheading-video-story-top Unai Emery happy with 'tough victory' for Arsenal against Huddersfield
Dec 11, 2018 - 02:56
But Berbatov has now advised the 30-year-old year-old that he must be willing to obey Emery to remain an important player for Arsenal.

isis-killer-beheading-video-story-top Google+ to shut down early after leak exposes 52m users
Dec 11, 2018 - 02:16
The personal information that was exposed was from people's Google + profiles, including names, ages and occupations. Today Google officially announced that it recently discovered a new API bug that was released in November.

isis-killer-beheading-video-story-top Major decline in Aust flu deaths in 2018
Dec 09, 2018 - 16:40
There have been a total of 20 pediatric flu deaths reported in MS since they became reportable in the 2008-2009 flu season. According to the health unit, getting the flu shot during pregnancy protects an infant for the first six months of life.

isis-killer-beheading-video-story-top Legal cannabis industry: Altria, Molson-Coors among companies exploring market
Dec 09, 2018 - 16:17
Canopy has said it will not sell marijuana products in the USA until pot is legalized at both the federal and state level. For its initial investment, the tobacco giant will acquire a 45% ownership stake in Cronos.

isis-killer-beheading-video-story-top Economists React To The November Jobs Report
Dec 09, 2018 - 14:56
Employers posted 7 million open jobs, outnumbering the number of unemployed people, which fell last month to just under 6 million. But Friday's report suggests the Fed may not hike rates next year as rapidly as many investors have feared.

isis-killer-beheading-video-story-top After mice food delay, SpaceX set for space station resupply launch Wednesday
Dec 09, 2018 - 14:46
It was the first time SpaceX ever failed to land a booster on solid ground, following a string of 12 straight successes. The launch was postponed by a day as NASA found the food meant for the mice during their space trip to be mouldy.