U.S. farmers plow ahead with plantings as China trade war fears ebb

Lawmakers urge Trump administration to clarify strategy on China after trade war pause

Dow Closes Above 25000 As China Trade War Fears Fade

Wheat bound for overseas pours into the holds of a ship at the Port of Portland.

After another round of talks, the two countries agreed not to place tariffs on goods imported from the other.

The agreement came after Trump threatened to impose up to $150 billion in punitive tariffs to lower the trade deficit and combat what he calls Beijing's misappropriation of USA technology.

"The big news over the weekend was that a trade war was averted, and so we had an adjustment, covering bets that there would be negative news coming out of the discussion", said Bucky Hellwig, senior vice president at BB&T Wealth Management.

"They go industry by industry", Mnuchin said. "There is still a high risk of a trade war, even if the timeline to getting there has been extended".

FILE - U.S. Treasury Secretary Steven Mnuchin, right, and a U.S. delegation arrive at a hotel in Beijing for trade talks with China, May 3, 2018.

Whatever the case, EU leaders insist that there is no chance of relaunching the very unpopular TTIP talks, the major EU-US trade agreement torpedoed by Trump when he entered office previous year.

Trump, at the behest of Chinese President Xi Jinping, a week ago "instructed" Commerce Secretary Ross to intervene to save the company and prevent the loss of Chinese jobs. They told Liu that the whole world is celebrating for the consensuses reached between China and the United States on economic and trade issues. "Instead, it stood firm and continually expressed its willingness to talk", the English-language newspaper said in an editorial.

In the statement, Beijing committed to "significantly increase" its purchases of American goods and services, saying that the increase would "meet the growing consumption needs of the Chinese people and the need for high-quality economic development".

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A businessman, Rafael Alfredo Sarria Diaz, who has been accused of acting on behalf of Cabello, was also on the blacklist.

Trump also suggested that the North Korea embargo is showing cracks before the nuclear summit with the USA scheduled for June 12. No dollar figure was cited in the countries' joint statement on Saturday. "There is no question the United States did not move as proactively as it should have during the 2000s with China's exports to the US were rising dramatically".

One of the areas in which the American people were promised a dazzling display of the maestro in action was on trade with China, a situation the president has likened, with some regularity, to the US being "raped".

Asked about the administration's evolving China trade strategy, several Republicans said the White House needed to fill them in on what was happening, as majority had only heard and read media reports about the developing talks over the weekend.

The positive mood is likely to spill over to Asian shares, which have been capped by trade war worries since Trump proposed tariffs on steel and aluminum products earlier this year.

Crude prices climbed further on U.S. President Donald Trump's discussions with Russian Federation and China about issuing new debt to Venezuela.

Europe has also raised the possibility of backing a drive to reform the World Trade Organization, the worldwide trade watchdog that Trump accuses of being soft on China and harmful to United States interests.

Not only does China need to offset the trade imbalance with the USA, but it also needs American natural gas. China's Shanghai Composite and the Hang Seng in Hong Kong also enjoyed solid gains Monday, as did stocks on most leading European exchanges.

Trump had threatened to impose new tariffs on $150 billion worth of Chinese imports and Beijing had responded that it would do the same on American goods. Trump later ordered Lighthizer to seek up to an additional $100 billion in Chinese goods to tax. China is promising to increase its imports of United States agriculture and energy products.

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