US, China nearing deal to remove US sales ban against ZTE

Guggenheim investment chief Nobody wins a trade war

Wheat bound for overseas pours into the holds of a ship at the Port of Portland. The U.S. ran a deficit with China in goods and services a year ago of $337 billion.

U.S. stocks climbed on Monday after the United States and China put their trade differences "on hold" to work on a wider agreement, while sentiment was also buoyed by the almost $28 billion worth of merger activity.

U.S. President Donald Trump has threatened to raise import duties on Chinese goods worth up to $150 billion in response to complaints Beijing steals or pressures foreign companies to hand over technology in exchange for market access.

The Treasury secretary's remarks come a day after he told Fox News that the USA was "putting the trade war on hold" and that both Beijing and the US were temporarily suspending plans to implement tariffs.

The disclosure came after the conclusion of intensive trade talks in Washington between the two sides.

Not only does China need to offset the trade imbalance with the USA, but it also needs American natural gas.

In an interview on CNBC Monday morning, Mnuchin said that the most recent round of trade talks between the two nations had concluded with a "very comprehensive framework that needs to be implemented".

Trump tweeted Monday: "China has agreed to buy massive amounts of ADDITIONAL Farm/Agricultural Products - would be one of the best things to happen to our farmers in many years!"

Mnuchin said the United States expects to see a big increase of between 35 percent and 40 percent in agricultural exports to China and a doubling of energy purchases over the next three to five years.

Willian wants out of Chelsea with Manchester United interested
It will be interesting to see what occurs in the end, with the player himself having left all opportunities open for his future. As I said before Saturday's game, he would love to put the FA Cup on his CV and get one over Jose Mourinho at the same time.

Haspel Wins Backing of Senate Panel for CIA Post
But in her hearing, Haspel reminded lawmakers of the important role played by the intelligence community after the 9/11 attacks. As Director of the CIA , Gina Haspel will be the first operations officer in more than five decades to lead the Agency.

Baylor Men's Golf Cruises into Final Round at Six-Under
No. 27 UNF is now third at 5-under, while No. 33 Pepperdine is second at 7-under and No. 3-ranked Oklahoma is first at 9-under. Sharp opened the day with par to complete his second round 3-under-par 68, which was his second lowest score of the season.

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.

The comment came a day after the USA and China released a joint statement in which they pledged to "substantially reduce the United States trade deficit in goods with China".

Analysts said the talks may have helped to ease tensions at least slightly between the world's two biggest economic powers. And there was no mention of ZTE in the two countries' joint statement on the trade talks, keeping the company in limbo. The two countries also agreed on "meaningful increases" of USA agriculture and energy exports and greater efforts to increase trade in manufactured goods and services. The U.S. has long accused Beijing of secretly stealing U.S. technology from American businesses.

If China were to fill every drop of uncontracted LNG with USA gas, that would amount to about $20 billion a year in purchases by 2030.

Beijing refused to knuckle under to a USA demand to slash the US trade gap by a specific amount: $200 billion, a figure seen by most economists as wildly unrealistic anyway.

"We are not out of the danger zone yet", said Nick Marro, a China analyst with the Economist Intelligence Unit.

Europe was hit by the shock tariffs in March, part of the protectionist president's threat of an "America First" trade war with Washington's closest partners, including Canada, Mexico and Japan.

President Donald Trump's top economic adviser, Larry Kudlow, said Sunday on ABC that $200 billion is "a number that interests the president a lot". He views the massive US trade deficit with China as evidence that Beijing is engaged in abusive trading practices and has outmaneuvered previous USA administrations.

Last August, U.S. Trade Representative Robert Lighthizer began investigating Beijing's strong-arm tactics to challenge U.S. technological dominance. The industrial sector advanced 1.6 per cent. Boeing, which sells about a fourth of its commercial aircraft to Chinese customers, jumped 3.3 per cent, the biggest gainer on the Dow and providing the maximum support to the blue-chip index.

Related news:

Hot News

isis-killer-beheading-video-story-top USA wary of North Korean cyber prowess ahead of summit
May 22, 2018 - 09:30
National Security Advisor John Bolton suggesting that North Korea could follow a " Libya model " of verifiable denuclearization. Outwardly, for now, both Trump and his team remain optimistic.

isis-killer-beheading-video-story-top Donald Glover Would Write a 'Star Wars' Movie and Play Lando Again
May 22, 2018 - 09:28
Donald Glover told Jimmy Kimmel why he wanted to play Lando Calrissian in " Solo ". I don't know where it will go ". This thing is literally a blob.

isis-killer-beheading-video-story-top Thompson Guarantees He'll Play Better in Game 3
May 22, 2018 - 00:25
Speaking to ESPN , Curry said: "I blacked out". "We're in the middle of a hell of a run, obviously", coach Steve Kerr said. He was 7 for 7 in the third quarter, torching defenders with an array of moves and long-distance shots.

isis-killer-beheading-video-story-top Putin Puts Russian Warships On 'Permanent Standby' Near Syria
May 18, 2018 - 09:36
Putin congratulated Assad on what he said were considerable achievements by the Syrian armed forces against terrorist units. Putin is scheduled to meet with German Chancellor Angela Merkel on Friday and French President Emmanuel Macron next week.

isis-killer-beheading-video-story-top Senate votes to protect net neutrality
May 18, 2018 - 09:34
DAVIS: Republicans like Congressman Scott Taylor of Virginia think Democrats are wrong on the policy of net neutrality. Net Neutrality was led by the Obama administration that ensured equal and fair treatment for web content.

isis-killer-beheading-video-story-top Oil price climbs above $80
May 18, 2018 - 09:34
USA crude oil production has soared by more than a quarter in the last two years, to a record 10.72 million barrels per day.

isis-killer-beheading-video-story-top CARICOM calls for restraint in Israel-Palestine conflict
May 18, 2018 - 09:34
Bardawil did not elaborate on whether the 50 were fighters or associates, and his number could not be verified. But there's also the problem of expanding the worldwide recognition of Jerusalem.

isis-killer-beheading-video-story-top YouTube Announces New Music Streaming Platform, Adds Song Credits To Videos
May 18, 2018 - 09:33
Google Play Music subscribers will automatically move to YouTube Music , without losing their playlists, purchases and uploads. The new service will offer users the chance to stream music for free with its ad-supported business model.

isis-killer-beheading-video-story-top Golfer's wife arrested for drunken attack after missed cut
May 17, 2018 - 01:27
She later hangs up the phone, but when the 911 dispatcher calls the number back, her husband Lucas Glover answered the phone. Once they were able to get her into the backseat, she proceeded to kick the hell out of the door.

isis-killer-beheading-video-story-top EPA chief to face fresh questions about spending in senate hearing
May 17, 2018 - 01:25
Udall issued some of the harshest criticism of Pruitt, calling his leadership at the EPA "a betrayal of the American people". Udall tells Pruitt he's treating his position of public trust "as a golden ticket for extravagant travel and fine dining".

isis-killer-beheading-video-story-top US Senate approves bill in bid to retain net neutrality
May 17, 2018 - 01:23
But, he cautioned, it remains unclear how many voters will actually be motivated by net neutrality to go to the polls . Edward Markey (D-Mass.) - enables Congress to overturn agency actions within a certain timeframe and by majority vote.

isis-killer-beheading-video-story-top Ramadan 2018 to begin on Thursday, moon sighted in India
May 17, 2018 - 01:22
Opposition Leader Kamla Persad-Bissessar urged for Muslims to practice spiritual reflection as the season of Ramadan begins. The final 10 nights of Ramadan include intense prayer and are followed by a three-day holiday called Eid al-Fitr.

isis-killer-beheading-video-story-top Guatemala Becomes Second Country To Move Israeli Embassy To Jerusalem
May 17, 2018 - 01:22
During the ceremony, Netanyahu praised the Central American country for its long friendship and recognition of the Jewish State. Guatemala previously had an embassy in Jerusalem, the first country in the world to open an embassy in the city in 1956.

isis-killer-beheading-video-story-top Deputy who failed to confront Parkland school shooter getting $8k monthly pension
May 17, 2018 - 01:22
Peterson was thrown under the bus by Sheriff Scott Israel , who said at the time that the deputy should have "went in". If FDLE has found that anyone has broken any laws, they will be held fully accountable.

isis-killer-beheading-video-story-top STALKER 2 announced, could arrive sometime in 2021
May 16, 2018 - 07:56
There's bugger all info available at the moment, but fans of S.T.A.L.K.E.R. can rejoice: you're getting a sequel. With a story that includes supernatural influence its no wonder how this game has garnered the fame that it has.