Sat. Feb 23rd, 2019

The commercial truce between the US and China could extend another 90 days

The commercial truce between the US and China could extend another 90 days

The chief economic adviser of the White House, Larry Kudlow, assured today that the US president, Donald Trump, could value extending another 90 days the commercial truce reached with China if "there were good and solid movements".

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"The president has indicated that if there were good and solid movements and good actions, he could be willing to extend the 90 days (of truce), we will have to see that," Kudlow said in a statement to the US channel CNBC.

The adviser stressed that the talks with Beijing are "extremely promising", although he warned that despite his optimism it was important to "believe, but verify" if the promises are kept.

Kudlow's statements coincide with a brief Trump tweet in which he said: "The talks with China are going very well."

Last weekend, Trump and Chinese President Xi Jinping agreed at the G20 summit in Argentina to temporarily bury the ax of the trade war they have been holding for months.

The news was received with large increases in the Wall Street Exchange in New York, however, doubts about an eventual failure of these conversations led to a significant fall in the stock market in the following days.

The possible extradition to the United States of the Huawei financial director, Meng Wanzhou, detained on December 1 at the request of the US justice for the alleged violation of the sanctions imposed against Iran, contributed to increase the concern of the investors, who saw the arrest as an obstacle to the success of the negotiations.

Chinese authorities have called for the "immediate" release of Meng and have warned that his arrest is a violation of the "human rights" of the executive that will cause China to "take measures to protect" its citizens.

However, Kudlow said he does not think this case will affect contacts between Washington and Beijing.

Trump applied tariffs of 10% last September to products worth 200 billion dollars imported from China to the United States and had threatened to increase them to 25% in January if an agreement with China was not reached, a measure that will not be applied while the conversations.


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