U.S. wants ‘concrete’ trade action from China

Donald Trump threatened to slap a range of import penalties on Chinese products if they didn't make major changes in their economic relationship with the US

The United States said Monday it will need to see "something concrete" from China in the next 90 days to build a real agreement on trade, two days after Donald Trump and Xi Jinping called a truce in the escalating confrontation between the two powerhouses. Add Donald Trump as an interest to stay up to date on the latest Donald Trump news, video, and analysis from ABC News.

While speaking outside of the White House Monday, Mnuchin said there's a specific understanding that the US and China will turn the agreement that the two presidents have made into a real agreement over the next 90-days.He said while some of the areas are going to need to be phased into the deal, a real agreement is on the horizon.

In return, Washington said China would purchase "very substantial" amounts of USA agricultural, energy, industrial and other products.

White House officials have already begun backpedaling on President Trump's claim of an agreement with China to drop tariffs on U.S. cars entering the world's largest automotive market.

Trump warned that although he and Xi want to get to an agreement "remember, I am a Tariff Man".

Trump said China had committed to buying large amounts of US agricultural products and completely removing all tariffs on US automobiles a huge shift from its current 40 per cent penalty although China hasn't confirmed this

"Well, on the tariff raise, the President has said 90 days beginning January 1, which is when it was going to go - the 10 to 25 was going to go into effect". "Let the negotiations begin".

"Stuff is happening today", Kudlow said.

While Mnuchin said the president reserves the right to escalate tariffs should negotiations not pan out as planned, he cast the weekend's talks as a breakthrough in the administration's efforts to check China and said the discussion included everything from purchasing more U.S. goods to intellectual property, to currency manipulation.

Treasury Secretary Steven Mnuchin is expressing optimism a trade agreement with China will soon be reached. "This is not going to be just kicking the can down the road".

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