China to 'immediately' implement United States trade truce measures

China to 'immediately' implement United States trade truce measures

The US Commerce Department said the country's trade deficit with China in October expanded 7.1 percent from the previous month to a record 43.1 billion dollars.

The Ministry of Commerce said Thursday China will immediately start implementing agreements on agricultural products, energy and cars that were reached at the weekend summit between Chinese and USA leaders over their ongoing trade dispute.

"China will start from agricultural products, autos and energy to immediately implement specific items that China and the US have agreed upon", Ministry of Commerce Spokesman Gao Feng told reporters in Beijing.

President Donald Trump agreed Saturday to postpone USA tariff hikes in a fight over Beijing's technology policy by 90 days while the two sides negotiate. He added that the talks will also address areas such as intellectual property rights, technology cooperation, market access, and the trade imbalance.

But the spokesman did not provide more specific details about what actions China would take.

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China's ultimate goal during the 90-day trade talks is to remove all USA tariffs imposed on Chinese goods, Gao said.

"We will start with agricultural products, energy, automobiles to immediately implement the issues that the two sides have reached consensus", Gao said, when asked about what is on the negotiation agenda.

"China has been expanding imports over the years in order to meet the Chinese people's demand for better lives and high-quality development", he said, adding that after reaching preliminary consensus on trade issues of farm produce and energy during the previous consultations, the two sides will continue to hold consultation on these issues plus manufactured goods and service trade.

On Tuesday, Trump tweeted about the potential for a deal with China, before warning that if a deal wasn't reached in 90 days he would slap more tariffs on China because he was "a Tariff Man".

That was compounded by news that a top executive at Chinese telecoms giant Huawei had been arrested in Canada and faces extradition to the USA over allegations the firm had broken sanctions linked to Iran.

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