China-US Ceasefire Paves Way For New LNG Projects

Donald Trump and Xi Jinping

Image Donald Trump and Xi Jinping have signalled a willingness to agree a substantive deal to end their trade war

While neither of these two energy products were mentioned by name, it's likely that China would not only appease the U.S.by removing tariffs on U.S. LNG imports but would also help itself since Beijing needs the diversity of supply that growing U.S. shale oil and gas exports offer. But he added, "if that's real" - raising some doubt - it would close the USA trade deficit with China, and 'we have to have a negotiated agreement and have this on paper'.

Stocks in the U.S., Europe and Asia fell sharply after Trump declared himself "a Tariff Man" who wants "people or countries" with intentions to "raid the great wealth" of the U.S.

In the latest Trump-China trade war news, the POTUS has been in talks with China President Xi Jinping to discuss the reduction or elimination of some import tariffs that each president has imposed on the other president's country.

Both sides will immediately hold talks on structural changes concerning forced technology transfers made by Chinese firms on USA companies, intellectual property rights protection, non-tariff trade barriers, cyber intrusion concerns, cyber theft and agricultural, the White House added.

"If it is, we will get it done", Mr Trump said in a Twitter post.

The two leaders on Saturday agreed to the ceasefire 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.

"Relations with China have taken a BIG leap forward!"

Traders work on the floor of the NYSE in New York 19/11/18
Image US stock markets endured a bruising session on Tuesday amid doubts a US-China deal is possible

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.

But the mood has quickly soured on scepticism that the two sides will be able to reach a substantive deal on a host of highly divisive issues within the 90-day negotiating period that was agreed.

President Donald Trump on Wednesday scrambled to reverse a stock market plunge over fears his China trade deal won't happen, arguing Beijing was sending "very strong signals" and that he believed President Xi Jingping's promises.

Should China remove the tariffs now, USA soybean would likely still be uncompetitive in the global market as harvest season approaches for the crop in South America.

President Xi and his most senior officials are due back in China on Thursday, having visited Panama and Portugal since leaving Argentina.

One Chinese official said officials were "waiting for the leaders to return" before publicising details.

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