China State-Run Media Praises Trump for Trade Talks ‘Breakthrough’
New reports from Chinese new outlet editor show promise
China has seemingly pushed back on reports it was backing off from President Donald Trump's “phase one” of a trade deal on Monday.
The Global Times editor, China's state-run media mouthpiece, tweeted trade talks had “made a breakthrough.”
Hu Xijin said although the initial statements coming out of China had been “moderate," it shouldn't be interpreted as a lack of enthusiasm for the deal.
But China had not yet confirmed various of the specifics of the deal, including the plan for the country to buy up tens of billions of dollars worth of agricultural goods, according to Bloomberg.
Treasury Secretary Steven Mnuchin said he expected those tariffs would still be applied if the U.S. and China failed to reach a final deal by then.
Both CNBC and Bloomberg reported China wants another round of talks before the “phase one” deal would be agreed upon.
The different Tones from the Chinese state media outlets and rump administration were note by Traders on Wall Street.
Based on what I know, China-US trade talks made breakthrough last week and the two sides have the strong will to reach a final deal. Initial statement of the Chinese side is moderate. This is China's habit. It doesn't mean China's real attitude is not positive.— Hu Xijin 胡锡进 (@HuXijin_GT) October 14, 2019
BREAKING: Trump Announces Deal with China Aimed at Benefiting American Farmers and Ranchers— Neon Nettle (@NeonNettle) October 14, 2019
READ MORE: https://t.co/PV35OwzrLc
Initial reports in China noted “substantial progress” had been made, but feel short of calling it a “deal.”
In August, Neon Nettle reported Chinese markets were continuing to tank as the currency plummeted to an 11-year low.
Chinese officials signaled the country was seeking a "calm" end to its ongoing trade war with the United States.
Asian markets crumbled, and China's currency bombed following the Trump Administration's latest tariffs on $550 billion in Chinese goods.
Trump said that officials from China called requesting U.S. officials "get back to the table" to make a deal, The Wall Street Journal reported.