Both sides call it progress toward easing the trade war, but we’re seeing different messages from China and the U.S. about what exactly what agreed to when their teams led by Xi Jinping and Donald Trump sat down to work out that truce over the weekend in Buenos Aires.
Both sides agreed to hold off on new tariffs and President Xi pledged to increase Chinese purchases of American products.
Later, President Trump said China committed to buying large amounts of U.S. agricultural products and reducing and removing tariffs on U.S. automobiles.
But Beijing has yet to confirm those details. News of the trade truce sent stocks higher Monday, but continued confusion about the agreement turned those gains around Tuesday. Wall Street saw the Dow Jones Industrial average drop nearly 800 points.
To discuss all of this:
- Eleanor Clift is a political analyst with the Daily Beast.
- Simon Marks is the President and Chief Correspondent of Feature Story News.
- Zhao Hai is a research fellow with the Chinese Academy of Social Sciences.
- Tony Payan is the Director of the Mexico Center at the Baker Institute at Rice University.
- John Sitilides is a global risk analyst and principal with Trilogy Advisors.
— China Xinhua News (@XHNews) December 4, 2018
Stocks plunged on Wall Street as investors questioned U.S.-China trade truce; the Dow Jones Industrial Average sank almost 800 points. https://t.co/3diRkC4tdt
— AP Business News (@APBusiness) December 4, 2018
BREAKING: A federal appeals court has delivered a victory for both the First Amendment and immigrants' rights, ruling that a law against "encouraging" a non-citizen to illegally enter or remain in the US is unconstitutional. https://t.co/PcLr13UdPY
— ACLU (@ACLU) December 4, 2018
— CBS News (@CBSNews) December 4, 2018