U.S., China agree on trade war ceasefire after Trump, Xi summit

UNTV News   •   December 3, 2018   •   2907

U.S. President Donald Trump, U.S. Secretary of State Mike Pompeo, U.S. President Donald Trump’s national security adviser John Bolton and Chinese President Xi Jinping attend a working dinner after the G20 leaders summit in Buenos Aires, Argentina December 1, 2018. REUTERS/Kevin Lamarque

BUENOS AIRES (Reuters) – China and the United States agreed to a ceasefire in their bitter trade war on Saturday after high-stakes talks in Argentina between U.S. President Donald Trump and Chinese President Xi Jinping, including no escalated tariffs on Jan. 1.

Trump will leave tariffs on $200 billion worth of Chinese imports at 10 percent at the beginning of the new year, agreeing to not raise them to 25 percent “at this time”, the White House said in a statement.

“China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries,” it said.

“China has agreed to start purchasing agricultural product from our farmers immediately.”

The two leaders also agreed to immediately start talks on structural changes with respect to forced technology transfers, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture, the White House said.

Both countries agreed they will try to have this “transaction” completed within the next 90 days, but if this does not happen then the 10 percent tariffs will be raised to 25 percent, it added.

The Chinese government’s top diplomat, State Councillor Wang Yi, said the negotiations were conducted in a “friendly and candid atmosphere”.

“The two presidents agreed that the two sides can and must get bilateral relations right,” Wang told reporters, adding they agreed to further exchanges at appropriate times.

“Discussion on economic and trade issues was very positive and constructive. The two heads of state reached consensus to halt the mutual increase of new tariffs,” Wang said.

“China is willing to increase imports in accordance with the needs of its domestic market and the people’s needs, including marketable products from the United States, to gradually ease the imbalance in two-way trade.”

“The two sides agreed to mutually open their markets, and as China advances a new round of reforms, the United States’ legitimate concerns can be progressively resolved.”

The two sides would “step up negotiations” toward full elimination of all additional tariffs, Wang said.

The announcements came after Trump and Xi sat down with their aides for a working dinner at the end of a two-day gathering of world leaders in Buenos Aires, their dispute having unnerved global financial markets and weighed on the world economy.

After the 2-1/2 hour meeting, White House chief economist Larry Kudlow told reporters the talks went “very well,” but offered no specifics as he boarded Air Force One headed home to Washington with Trump.

China’s goal was to persuade Trump to abandon plans to raise tariffs on $200 billion of Chinese goods to 25 percent in January, from 10 percent at present. Trump had threatened to do that, and possibly add tariffs on $267 billion of imports, if there was no progress in the talks.

With the United States and China clashing over commerce, financial markets will take their lead from the results of the talks, widely seen as the most important meeting of U.S. and Chinese leaders in years.

The encounter came shortly after the Group of 20 industrialized nations backed an overhaul of the World Trade Organization (WTO), which regulates international trade disputes, marking a victory for Trump, a sharp critic of the organization.

Trump told Xi at the start of their meeting he hoped they would achieve “something great” on trade for both countries. He struck a positive note as he sat across from Xi, despite the U.S. president’s earlier threats to impose new tariffs on Chinese imports as early as the next year.

He suggested that the “incredible relationship” he and Xi had established would be “the very primary reason” they could make progress on trade.

Xi told Trump that only through cooperation could the United States and China serve the interest of peace and prosperity. Washington and Beijing have also increasingly been at odds over security in the Asia-Pacific region.

At the same time, Trump again raised with Xi his concern about the synthetic opioid fentanyl being sent from China to the United States, urging the Chinese leader to place it in a “restricted category” of drugs that would criminalize it.

The White House said Xi, “in a wonderful humanitarian gesture”, had agreed to designate fentanyl a controlled substance.

Xi also said that he was open to approving the previously unapproved Qualcomm-NXP deal should it again be presented to him, the White House added.

“This was an amazing and productive meeting with unlimited possibilities for both the United States and China. It is my great honor to be working with President Xi,” Trump said in the statement.

WTO REFORMS
Earlier on Saturday, the leaders of the world’s top economies called for WTO reform in their final summit statement.

Officials expressed relief that agreement on the communique was reached after negotiators worked through the night to overcome differences over language on climate change.

The final text recognized trade as an important engine of global growth but made only a passing reference to “the current trade issues” after the U.S. delegation won a battle to keep any mention of protectionism out of the statement.

Trump has long railed against China’s trade surplus with the United States, and Washington accuses Beijing of not playing fairly on trade. China calls the United States protectionist and has resisted what it views as attempts to intimidate it.

The two countries are also at odds over China’s extensive claims in the South China Sea and U.S. warship movements through the highly sensitive Taiwan Strait.

In addition to tariffs on Chinese goods, Trump has imposed tariffs on steel and aluminum imports into the United States this year. Numerous countries have filed litigation at the WTO to contest the levies.

The United States is unhappy with what it says is the WTO’s failure to hold China to account for not opening up its economy as envisioned when China joined the body in 2001. The European Union is also pushing for sweeping changes to how the WTO operates.

G20 delegates said negotiations on the summit statement proceeded more smoothly than at a meeting of Asia-Pacific leaders two weeks ago, where disagreement on protectionism and unfair trading practices prevented a consensus.

European officials said a reference to refugees and migration – a sensitive issue for Trump’s administration – was excised to ensure consensus.

On climate change, the United States once again marked its differences with the rest of the G20 by reiterating in the statement its decision to withdraw from the Paris Agreement and its commitment to using all kinds of energy sources.

The other members of the group reaffirmed their commitment to implement the Paris deal and tackle climate change.

International Monetary Fund (IMF) Managing Director Christine Lagarde said high levels of debt accumulated by emerging market nations was a pressing concern.

U.S. officials said a call by G20 leaders for the IMF and World Bank to improve monitoring debt levels was aimed at ensuring that developing economies did not become to heavily indebted to China in return for infrastructure projects.

U.S. officials have warned about China’s increasing influence across swaths of the developing world, including Latin America. G20 summit host Argentina is expected to sign a series of deals with China on Sunday during a one-day state visit by Xi.

Apart from trade and climate change, Russia’s seizure of Ukrainian vessels drew condemnation from other G20 members, while the presence of Crown Prince Mohammed bin Salman at the summit raised an awkward dilemma for leaders.

Saudi Arabia’s de facto ruler arrived amid controversy over the killing of Saudi journalist Jamal Khashoggi, though Saudi officials have said the prince had no prior knowledge of the murder.

The leader of the OPEC heavyweight had a series of bilateral meetings at the summit, including a closely watched encounter with Russian President Vladimir Putin.

Reporting by Roberta Rampton, Michael Martina, Matt Spetalnick, Maximilian Heath, Scott Squires, Cassandra Garrison, Daniel Flynn and Kylie Maclellan in Buenos Aires; Dave Shepardson and Humeyra Pamuk in Washington, Ben Blanchard in Beijing and John Ruwitch in Shanghai; writing by Matt Spetalnick and Daniel Flynn; editing by Ross Colvin, Alistair Bell, Jonathan Oatis and Will Dunham

Trump takes a limousine lap before Daytona 500 auto race

UNTV News   •   February 17, 2020

President Donald Trump took a loop around the Daytona 500 racetrack on Sunday (February 16) in the presidential limousine known as “The Beast,” drawing cheers from fans at NASCAR’S most prestigious race.

Ramping up his nationwide re-election effort after his acquittal in the U.S. Senate impeachment trial, Trump served as the grand marshal at the annual National Association for Stock Car Auto Racing event, which takes place in the electoral swing state of Florida.

After his motorcade made its way around part of the track, Trump took a break to take pictures with supporters.

After being driven a full lap in the limo before the race began, Trump delivered the opening line: “Gentlemen, start your engines” at the Daytona International Speedway before a crowd of 100,000.

Previous presidents who attended NASCAR events at the speedway include Ronald Reagan, George H.W. Bush, and George W. Bush.

Florida is one of a handful of U.S. states that swing between Democrats and Republicans in presidential elections.

Trump won the state, where he has golf courses and a home that is now considered his primary residence, in his race against Democrat Hillary Clinton in 2016. (Reuters)

(Production: Pavithra George)

Trump celebrates impeachment acquittal, lashes out at political foes

UNTV News   •   February 7, 2020

US President Donald Trump

President Donald Trump, facing a bruising re-election campaign and possible further investigations in Congress, celebrated his acquittal on impeachment charges on Thursday (February 6) in a speech that drew on White House pomp to underscore the fact that he remained in office.

After walking down a red carpet to a standing ovation from scores of Republican lawmakers, administration officials and conservative media figures in the White House, Trump re-aired old grievances and accused Democrats of staging a “corrupt” effort to undermine his presidency.

“We went through hell unfairly. Did nothing wrong. I did nothing wrong. I’ve done things wrong in my life, I will admit. Not purposely. But I’ve done things wrong. But this is what the end result is,” he said as he held up a morning newspaper, with a headline reading “Trump acquitted.”

“And there’s nothing from a legal standpoint, this is a political thing. And every time I’d say ‘this is unfair, let’s go to court’, they say ‘sir, you can’t go to court, this is politics’. And we were treated unbelievably unfairly. And you have to understand, we first went through ‘Russia, Russia, Russia’. It was all bullshit. We then went through the Mueller report,” he added.

The Republican-controlled Senate on Wednesday voted to acquit Trump on charges bought by the Democratic-led House of Representatives, only the third time in U.S. history that a president has been impeached.

The acquittal was Trump’s biggest victory yet over his Democratic foes in Congress, who attacked Senate Republicans for refusing to call witnesses or seek new evidence at the trial. (Reuters)

(Production: Mana Rabiee)

US Senate acquits Donald Trump of Impeachment charges

UNTV News   •   February 6, 2020

US President Donald Trump

REUTERS — President Donald Trump was acquitted on Wednesday (February 5) in his U.S. Senate impeachment trial, saved by fellow Republicans who rallied to protect him nine months before he asks voters in a deeply divided America to give him a second White House term.

The businessman-turned-politician, 73, survived only the third presidential impeachment trial in U.S. history – just like the two other impeached presidents – in his turbulent presidency’s darkest chapter. Trump now plunges into an election season that promises to further polarize the country.

Trump was acquitted largely along party lines on two articles of impeachment approved by the Democratic-led House of Representatives on Dec. 18, with the votes falling far short of the two-thirds majority required in the 100-seat Senate to remove him under the U.S. Constitution.

The Senate voted 52-48 to acquit him of abuse of power stemming from his request that Ukraine investigate political rival Joe Biden, a contender for the Democratic nomination to face Trump in the Nov. 3 election. Republican Senator Mitt Romney joined the Democrats in voting to convict. No Democrat voted to acquit.

The Senate then voted 53-47 to acquit him of obstruction of Congress by blocking witnesses and documents sought by the House. A conviction on either count would have elevated Vice President Mike Pence, another Republican, into the presidency. Romney joined the rest of the Republican senators in voting to acquit on the obstruction charge. No Democrat voted to acquit.

On each of the two charges, the senators voted one by one on the Senate floor with U.S. Chief Justice John Roberts presiding.

(Production: Mana Rabiee)

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