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Media Report
December 05 , 2018
  • The Wall Street Journal reports: "China is beginning to flesh out details of a weekend tariff truce with the U.S., after days of vague Chinese statements and a barrage of comments from President Trump and other administration officials. China's Commerce Ministry in a statement Wednesday acknowledged for the first time that Beijing on Saturday agreed to a 90-day cease-fire to allow negotiations to take place. The statement, attributed to an unnamed spokesman, said that the negotiations have a 'clear timeline and road map' and that China aims to quickly implement 'an agreed upon consensus.' Also this week, key government agencies and China's supreme court announced tough punishments for infringing on intellectual property—a prominent complaint by the Trump administration. Together, the moves begin to fill in some of Beijing's understanding of the agreement between Mr. Trump and President Xi Jinping. Right after the presidents' dinnertime parlay, Chinese officials said the two sides agreed to put tariffs in abeyance to negotiate a settlement but offered few other details then and in the days since."
  • Bloomberg reports: "U.S. President Donald Trump said China is sending 'very strong signals' following weekend trade discussions in Argentina, as uncertainty remains over what commitments were made between the two nations. 'Not to sound naive or anything, but I believe President Xi meant every word of what he said at our long and hopefully historic meeting,' Trump said on Twitter Wednesday. 'ALL subjects discussed!' Beijing will start to quickly implement specific items where there's consensus with the U.S. and will push forward on trade negotiations within the 90-day 'timetable and road map,' the Ministry of Commerce said in a statement on Wednesday morning in China."
  • The New York Times reports: "The trade war is back on — at least as far as investors are concerned. Stocks sank on Tuesday, as President Trump threatened China with further tariffs, just days after the two countries agreed to a cease-fire in their escalating economic conflict. Referring to himself as a 'Tariff Man,' Mr. Trump, in a series of tweets, deepened the murkiness surrounding the trade agreement, while members of his economic team talked down the prospects of a broad deal. The fear is that a lasting trade war will undermine the global growth at a time when some of the world's largest economies are already slowing down, and the United States, a standout performer, is also expected to slow. The global and domestic worries are undercutting the prospects for manufacturers, technology companies, regional banks and airlines, intensifying the sell-off in stocks. The S&P 500 lost more than 3 percent on Tuesday, after rallying the day before on the hope of a deal with China." 
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