US Treasury says updates Trump on Chinese investment concerns

Wall St. rises on trade war truce industrials lead

Lawmakers urge Trump administration to clarify strategy on China after trade war pause

However, although the ZTE deal proposal comes alongside a Chinese offer to remove tariffs on USA agricultural products, a Journal source said: "The White House was meticulous in affirming that the case is a law enforcement matter and not a bargaining chip in negotiations".

Threatened U.S. restrictions on Chinese investments in the United States also appeared to be put on the back burner.

In this April 30, 2018, file.

Asked about the administration's evolving China trade strategy, several Republicans said the White House needed to fill them in on what was happening, as majority had only heard and read media reports about the developing talks over the weekend.

Last month, the administration proposed tariffs on $50 billion of Chinese imports to protest the forced technology transfers.

President Donald Trump said his administration is reconsidering penalties on Chinese telecommunications maker ZTE a personal favor to the country's president, Xi Jinping.

"More false promises and delaying tactics", tweeted Dan DiMicco, a former steel executive who served as a trade adviser to Trump during the presidential race.

Last year, the USA had a record $376 billion deficit with China in the trade of goods; that was the largest by far with any nation. The Chinese government says it will buy more US goods, including energy and agricultural products, and Treasury Secretary Steven Mnuchin says the USA postponed tariffs on up to $150 billion in goods from China.

Some analysts say that for now, Trump might have wanted mainly to smooth over relations with China before his planned June 12 meeting with North Korean leader Kim Jong Un. He suggested that USA farms could double their sales to China if given broader access to its market.

In an interview earlier on Monday with CNBC, Mnuchin characterized the US tariff plan as suspended, but warned that "the president can always put tariffs back on".

Since the meetings concluded, the Trump administration has appeared to offer mixed messages about the status of the discussions and whether China had actually agreed to buy an additional $200 billion of US products to reduce the trade deficit, as administration officials had previously indicated.

But others were quick to point out how the country had successfully defended its interests.

Liu, just returned from the United states, referred to the talks as "positive, pragmatic, and productive" with some important consensuses reached.

The dollar hovered near five-month highs against a basket of currencies, boosted by the U.S. "Instead, it stood firm and continually expressed its willingness to talk", the English-language newspaper said in an editorial.

With a 3.6% advance, Boeing was the Big Board's best performer on the back of the easing of trade tensions between the world's two largest economies.

Some in USA business groups who had been pushing for tougher measures to pressure China to ease long-standing market barriers on US companies expressed disappointment.

No specific timetable was set for the next stage of negotiations or when the United States delegation would go to China to discuss the expansion of American exports.

The market is also weighing the possibility of additional US sanctions on the country.

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