By Barbara Kollmeyer, Market Watch–
Hailing weekend trade talks with the U.S. as “very successful,” the Chinese government said it will begin implementing specific agreed plans quickly. That was according to a statement published by the spokesman for China’s Ministry of Commerce on its website Wednesday.
“The economic and trade teams of the two sides will actively promote the consultation work within 90 days in accordance with a clear timetable and road map,” said the translated statement.
The statement comes a day after President Donald Trump said the two countries may not conclude a trade deal even after upbeat talks at the G-20 meeting over the weekend in Argentina. Skepticism over the U.S-China trade agreement triggered a rout in U.S. stocks Tuesday, with the Dow Jones Industrial Average DJIA, -3.10%sinking nearly 800 points.
In a series of tweets, Trump said the U.S. agreed to hold off an increase in China tariff rates for 90 days to allow negotations to take place.