China Matches U.S. and Cuts Tariffs in Trade-War Ceasefire

Beijing on Thursday signaled its willingness to act to bring an end to the trade war with the U.S., saying China is “full of confidence in reaching an agreement” during a 90-day period in which Donald Trump has agreed to suspend American tariff hikes. However, when asked to confirm whether Beijing promised to buy U.S. goods immediately, a commerce ministry spokesman averred, saying only that China will “immediately implement the consensus reached by the two sides on farm products, cars, and energy.” The positive mood music suggests Beijing does not want to allow the extradition to America of a Huawei telecom executive who was arrested in Canada, and is accused by the United States of trying to violate trade sanctions on Iran, to disrupt the talks.