Markets

China prepares to resume LNG and soybean imports from the US

China prepares to resume LNG and soybean imports from the US

US President Donald Trump has held out the possibility of an extension of the 90-day trade truce with China but made clear he would revert to tariffs if the two sides could not resolve their differences.

'Very strong signals being sent by China once they returned home from their long trip, including stops, from Argentina.

"President Xi and I want this deal to happen, and it probably will". But on Tuesday, after a series of confusing and conflicting words from Trump and some senior officials, stocks tumbled, with the Dow Jones shedding about 800 points, or 3.1 percent.

'People are still very concerned about the trade war, ' Dan Suzuki, portfolio strategist at Richard Bernstein Advisors told CNN.

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. Trump is relying on tariffs, and the threat of imposing them, to force other countries to buy more goods from America.

But details of what exactly the two sides have agreed to have been vague and White House aides have struggled to explain what the two countries actually agreed on.

Trump on Wednesday touted Beijing's agreement to designate Fentanyl as a Controlled Substance.

US stocks got a big lift Monday after the G20 meeting over the weekend cleared up some major uncertainties for investors.

"But if a fair deal is able to be made with China, one that does all of the many things we know must be finally done, I will happily sign". If China cracks down on this 'horror drug, ' using the Death Penalty for distributors and pushers, the results will be incredible!,' Trump wrote in a pair of tweets.

And that person is President Trump. 'Maybe that's why I'm here'.




According to the White House, the USA will still keep in place $200 billion of tariffs on Chinese imports but will not increase those tariffs from 10 percent to 25 percent after the start of the year as originally planned.

After some confusion Monday about who would head the talks with China, Trump suggested Tuesday that U.S. Trade Representative Robert Lighthizer would take the lead, "working closely with" Treasury Secretary Steven Mnuchin, economic advisor Larry Kudlow, Commerce Secretary Wilbur Ross and trade advisor Peter Navarro.

Another significant take-away from the preliminary agreement could be its impact on energy markets, both US oil import to China and perhaps even more importantly from a development perspective liquefied natural gas (LNG) imports.

"China will start with the implementation of the specific matters in which consensus has been reached, the sooner the better", it added, without providing more details.

The U.S. officials aim "to discuss investment opportunities in the U.S., which includes manufacturing and other forms of investment (including) r&d in new generation technologies", White House spokeswoman Lindsay Walters said.

It's by March 1 that the White House has set as the deadline for the Chinese to act.

Imports of American soybeans fell by 95% in October YoY and LNG imports were virtually non-existent after the tariffs were imposed.

He said a pause in additional USA tariffs and an additional round of negotiations between the US and China is exactly what he was hoping for from the G20 meeting.

The Ministry said that the recent meeting of U.S. President Donald trump and Chinese President XI Jinping was successful.