China says it will carry out tariff cease-fire with US

US trade deficit with China expands

US President Donald Trump said in a Twitter statement on 7 December that the trade talks between Washington and Beijing are proceeding well.

Asked to confirm whether Beijing promised to buy American goods immediately, Gao said China will "immediately implement the consensus reached by the two sides on farm products, cars and energy".

The commerce ministry's remarks came days after US President Donald Trump and Chinese leader Xi Jinping agreed to give negotiators 90 days to resolve their trade spat.

Wang said there was a 90-day deadline for China and the U.S. to negotiate structural reforms to China's economy, and that 10% tariffs will be raised to 25% if they don't achieve that agreement.

After the meeting, Washington agreed to hold off on Trump's threat to raise tariffs on $200 billion in Chinese imports to 25 percent beginning January 1, leaving them at the current 10 percent rate.

The two countries have hit each other with tit-for-tariffs on goods worth hundreds of billions of dollars in sectors from automobiles to agriculture and energy, stymying trade and redrawing global supply chains.

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

Mr Trump heightened nervousness by tweeting that there would be "a REAL DEAL with China, or no deal at all" at the end of their three-month peace window, "at which point we will be charging major tariffs against Chinese product".

The two sides also will discuss intellectual property protection, technical cooperation, market access and their trade balance, Gao said.

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.

High Chinese retaliatory tariffs on US soybeans have caused the USA exports of soybeans to drop by as much as 97 percent.

"When it comes to the trade policies that have been proposed so far specifically, I think we can all expect that there will be further tariff increases on USA imports of Chinese goods, whether that's within the 90-day window that we are now operating under a pause or outside that window", Anderson told a small group of reporters in Beijing on Thursday.

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