Beijing offers to cut auto tariffs, buy soy

Auto Industry Sees New Hope in China-US Treaty

May won a vote of confidence in her leadership right as USA markets closed for the session. It may actually matter more to foreign automakers with factories in the US than for Ford and General Motors (GM).

On the day of the trade ceasefire, US-China relations took an unexpected turn with the high-profile arrest of Huawei Technologies chief financial officer Sabrina Meng Wanzhou in Canada.

Trump approved tariff hikes of 25 percent on $50 billion of Chinese goods and 10 percent on another $200 billion of imports in response to complaints Beijing steals or pressures companies to hand over technology.

Chinese vehicle dealers also perked up their shares, hoping that the temporary US-China treaty will help improve the domestic market.

The US has hit a total of US$250 billion worth of Chinese goods with tariffs since July, and China has retaliated by imposing duties on US$110 billion of US goods. The major auto industries schedule meetings with the US Trade Representative's Office to learn more about the US-China tariff treaty.

French police release photo of suspected Strasbourg gunman Cherif Chekatt
The mayor of Strasbourg Roland Ries said the Christmas market will be closed on Wednesday and flags will be lowered to half-mast. A photo posted to Twitter shows people locked down inside the European Parliament building, in Strasbourg , after the attack.

The news also comes after reports that Beijing plans to drop its Made in China 2025 plan, a medium-term strategy for economic dominance.

In a long-sought concession to the U.S., China agreed to label fentanyl, the deadly synthetic opioid responsible for tens of thousands of American drug deaths annually, as a controlled substance.

In retaliation, China raised the duty on USA vehicle imports to 40%, though it proceeded with the lower rate on imports from other countries.

"I've heard rumors that they're going to buy our beans and put them in reserve, but I don't see ships sitting in our ports to haul them to China yet", said John Heisdorffer, an Iowa soybean grower and chairman of the American Soybean Association, on Wednesday.

Chinese President Xi Jinping's government has taken steps this week to soothe the US, including a plan to cut tariffs on USA cars to 15 percent from 40 percent.

American Senator Chuck Schumer calls Trump wall threat 'temper tantrum'
Trump has said that his proposed wall would prevent drug dealers and criminals from infiltrating the country. Hours before the meeting, Mr Trump tweeted that "the Military will build the remaining sections of the Wall".

Trump and Chinese President Xi Jinping called a temporary truce in their trade war on December 1. "However this approach is making China think twice about their hard stance", said Ernesto Ramos, Managing Director of Active equities for BMO Global Asset Management in Chicago.

China started canceling USA soybean orders and added a 25% tariffs, which cut imports of US soybeans by 80%.

US farmers stored soybeans after the fall harvest, instead of selling them to grain traders and processors, because of low prices and lack of alternative buyers. China's decision came amid a period of heightening tensions between the USA and China over trade and intellectual property issues. Both Chinese and American trade officials say that there is indeed dialog between the two nations to reach a compromise.

The development bodes well for Ford Motor Company and BMW, which export luxury vehicles made from the USA to China. Soybean exports to China accounted for around 10% of the total value of all USA agricultural exports past year.

Eagles' Malcolm Jenkins Calls Out Officals After Loss
The Cowboys and their fans, however, will gladly take it as the win moved them one step closer to clinching the NFC East. It was a poorly played, uneventful affair for three quarters before a wild shootout suddenly broke out in the fourth.

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