US PRESIDENT Donald Trump's advisers are having difficulty explaining the trade truce he struck with China to reduce tariffs on cars exported to the country - because nothing of significance is on paper, Bloomberg reports
US PRESIDENT Donald Trump's advisers are having difficulty explaining the trade truce he struck with China to reduce tariffs on cars exported to the country - because nothing of significance is on paper, Bloomberg reports. Nor were Beijing officials able to say what happened at the summit on trade as senior cadres were still out of the country with Chinese President Xi Jinping.
Mr Xi was to visit Portugal, the final stop in a global tour that has included Panama, Spain and the Group of 20 meeting in Argentina - where the two leaders struck a truce in the trade war.
What little there is in writing is President Trump's two-sentence Twitter post, but the White House provided no additional information. .
Questioned about the agreement, Treasury Secretary Steven Mnuchin and Trump's top economic adviser, Larry Kudlow, but were sketchy on details.
Said Mr Kudlow: 'I'll call them 'commitments' at this point, which are - commitments are not necessarily a trade deal, but it's stuff that they're going to look at and presumably implement.
'We don't yet have a specific agreement. But I will just tell you, as an involved participant, we expect those tariffs to go to zero.'
Said Mr Mnuchin: 'I'm taking President Xi at his word, at his commitment to President Trump. But they have to deliver on this.'
WORLD SHIPPING
