KXIP vs KKR Live Score

"I am a Tariff Man", Trump wrote on Twitter. "It will always be the best way to max out our economic power".

China has made no direct mention of specific goods they will start to buy nor given any timeframe for when they may start.

Kudlow briefed reporters Monday following talks at the Group of 20 summit over the weekend between Trump and Chinese President Xi Jinping. U.S. automakers have been forced to pay a 40-percent tariff to import cars from USA factories, or create a 50:50 joint venture with a Chinese firm to build cars in China. "Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina", Trump said on Twitter. An actual deal with China to drop tariffs could help offset the political pain associated with the GM layoffs.

Trump and Xi on Saturday agreed to the cease-fire in a trade war that has seen the flow of hundreds of billions of dollars worth of goods between the world's two largest economies disrupted by tariffs.

Here's what we do know: if both sides keep to their word, there won't be any new tariffs being lobbed around in the next few months.

China, for its part, also agreed to offset its massive trade imbalance with the U.S.by buying more, but not yet specified amounts, of energy products, agricultural, industrial and other products. -China trade war and a possible economic slowdown.

Trump's aggressive trade actions left in their wake a farm industry suffering from China's retaliation, hitting soybeans especially hard, and a business sector fraught with uncertainty, facing higher costs and holding off on investment.

Like this story? Share it with a friend!

Trump said China had committed to buying large amounts of US agricultural products and completely removing all tariffs on US automobiles a huge shift from its current 40 per cent penalty although China hasn't confirmed this

While the two sides left talks in Buenos Aires, with an upbeat attitude, confusion and a lack of clarity around what exactly Trump and Xi agreed to has left many experts skeptical that a concrete deal can be reached in such a short window.

Another senior White House figure, trade adviser Peter Navarro, said only that the issue "certainly came up" in discussions at the G20.

China's reticence contrasted with the parade of US officials talking about the deal on Monday, including Treasury Secretary Steven Mnuchin and White House Economic Adviser Larry Kudlow. Kudlow initially said that the Chinese had 90 days from January 1 to come up with "structural changes" regarding intellectual property protections, forced technology transfer and other issues.

"The negotiations with China have already started", Trump said in a series of tweets on trade talks between the two countries.

"However I will give it to him that he has managed to bring China to the table", said Guajardo, who is now a senior director at Washington-based McLarty Associates focusing on worldwide trade.

President Donald Trump declared himself "Tariff Man" in a tweet that contributed to investors' fears about the tenuous US-China trade truce.

Otherwise, China - which has been incredibly protective of its own domestic auto industry, and probably doesn't want competition from other countries - could create a special tariff line in its itemized tariff system, meaning it would invent a new line that would only specifically apply to autos produced in the U.S.

Trump and Xi also agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture, according to the White House statement.