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By Bloomberg / Dec 05, 2018 09:49 AM / Economy

People use their smartphones to take photographs from a viewing platform overlooking the Port of Ningbo-Zhoushan in Ningbo

People use their smartphones to take photographs from a viewing platform overlooking the Port of Ningbo-Zhoushan in Ningbo

China said Wednesday the trade meeting with the U.S. was “very successful” and is “confident” of implementing the results agreed upon at the talks, but didn’t provide any further details on the outcome.

China will start to quickly implement specific items where there’s consensus with the U.S., and will push forward on trade negotiations with the U.S. within the 90-day "timetable and road map."

The Ministry of Commerce’s statement was the first official confirmation from China that there’s a 90-day window for the talks, although there was no mention that the U.S. has threatened to raise tariffs again if a deal isn’t reached at the end of it.

Global markets cheered the weekend accord on Monday, only to reverse course Tuesday as doubts emerged over exactly what the world’s two largest economies had agreed on. While Asian equities dropped in the wake of the biggest slide in stocks on Wall Street since the mid-October downdraft, U.S. futures advanced after the statement from China echoed President Donald Trump’s optimism over bilateral trade talks.

China and the U.S. announced a truce in their trade war after the meeting between Trump and Xi Jinping on Saturday, but that quickly descended into confusion, with both sides announcing different statements on what was agreed. There’s also been confusion just on the U.S. side, with the White House, Trump and his advisors making conflicting statements as to the details of a deal.

Trump, who on Tuesday described himself as "Tariff Man," continues to ratchet up pressure on China, saying vthere will be a "REAL DEAL with China, or no deal at all."


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