The White House said talks would take place to resolve within the next 90 days specific USA complaints such as forced technology transfer, or else existing 10 percent tariffs would go up to 25 percent.
-China trade war, only to fall sharply on Tuesday as presidential tweets and contradictory messages from senior administration officials indicated that the "deal" might be less firm than previously thought.
President Donald Trump left his top advisers scrambling on Monday to explain a trade deal he claimed he'd struck with China to reduce tariffs on US cars exported to the country - an agreement that doesn't exist on paper and hasn't been confirmed in Beijing.
That includes more purchases of US farm products, which Trump - seemingly trying to remind Xi - has said will begin "immediately".
The warning comes days after Trump and Chinese President Xi Jinping made a preliminary trade agreement to delay the trade war's escalation.
The president's Treasury secretary, Steven Mnuchin, told reporters Monday that there will be "specific changes right away" to help the agricultural industry, even as the majority of the tentative agreement remains to be worked out over a 90-day-period agreed upon between the US and China.
The sources said the Chinese were surprised by the decision, having dealt mainly with Treasury Secretary Steven Mnuchin on trade issues in the past.
Negotiators will actually have fewer than 90 days to reach a deal because of holidays in the two countries over the next three months, the Chinese ambassador to the United States, Cui Tiankai, told reporters on Monday.
President Donald Trump tweeted late Sunday that China would "reduce and remove" its 40 percent tariff on USA cars. There, all sides agree, the American president agreed to postpone an increase in tariffs on Chinese imports to 25 percent from 10 percent, which was scheduled to take effect January 1, in exchange for negotiations on broader economic disputes. The move is a significant turnaround in relations between the US and one of its biggest customers for farm products. But if not remember I am a Tariff Man, Trump wrote. "It will always be the best way to max out our economic power", he said.
‘I am a tariff man’: Trump warns China against raiding ‘great wealth’ of US as trade talks start
"There was a significant commitment from both leaders on what needs to be done over the 90 days and instructions to both teams to negotiate and turn this into a real agreement with specific action items, deliverables and time frames", Mnuchin said.
But the deal was also vague, and the uncertainty has led to skepticism that the divides between the United States and Chinese goals can be bridged.
In exchange, China offered more than one-point-two trillion dollars in additional commitments on trade.
"The negotiations with China have already started".
As reported by Reuters, fresh concerns are on the rise surrounding the temporary US-China truce that was struck over the weekend.
At his political rallies and news conferences, Trump often praises the increase in US military spending during his almost two years in the White House.
The markets - equity and bond markets - are expressing a pessimism quite at odds with Trump's boasts that "trade wars are great and easy to win" and with the notion that tariffs and tax cuts are the recipe for making the USA great again.
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.
Syria state TV says air defenses repelled missile attack
The side behind the attack is not yet clear, but Israel has repeatedly targeted military positions in Syria, including in Kisweh. Another missile hit the area of Harfa, near the Israeli border, where there is a Syrian military base, the UK-based monitor said.