China acknowledges Trump's 90-day deadline to resolve trade spat...

China acknowledges Trump's 90-day deadline to resolve trade spat
By Michael SmithUpdated 05 Dec 2018 — 4:00 PM,first published at 12:54 PM
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China has acknowledged for the first time US President Donald Trump's 90-day deadline to resolve the trade impasse with Washington for the first time, saying there would be further negotiations to set out a clear road map over the next three months.
China's Ministry of Commerce said on Wednesday talks between US and Chinese officials had been "very successful" and trade envoys from both countries would "move actively" to progresss negotiations.
"The business and trade teams from both sides will move actively to make progress in the negotiations in 90 days by following a clear timetable and roadmap," a Commerce Ministry official said at a media briefing.

China has for the first time acknowledged US President Donald Trump's 90-day deadline to resolve the trade impasse with Washington. AP
The comments were significant as it was the first time China acknowledged Mr Trump had set out a 90-day deadline to find common ground on more sensitive issues such as intellectual property theft and technology transfer.
Wall Street fell overnight as investors' initial excitement about the outcome of a meeting between Mr Trump and Chinese President Xi Jinping on the sidelines of the G20 on Sunday faded. China's failure to acknowledge there were caveats to Mr Trump's agreement to hold fire on further tariff increases was seen as a worrying sign the trade truce was only temporary and Beijing was unlikely to make any real concessions.