The sources told Reuters that Unipec is looking to import U.S. oil by March 1, when the 90-day negotiating period agreed to by the leaders of the world’s two biggest economies comes to an end.

In a brief statement on its website, the ministry said China would try to work quickly to implement specific issues already agreed upon, as both sides “actively promote the work of negotiations within 90 days in accordance with a clear timetable and road map”.

But Larry Kudlow’s bullish remarks fail to answer questions over specifics.

‘China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%,’ president says.

But in an editorial, the official China Daily warned that while the new “consensus” was a welcome development and gave both sides “breathing space” to resolve their differences, there was no “magic wand” that would allow the grievances to disappear immediately.

The one-term president oversaw a lightning victory in the Persian Gulf War before being undone by a recession.

The U.S. succeeded in taking out a call against protectionism, while China managed to strike out ’unfair trade practices’

Fresh talks to be launched, while the U.S. delays plans to raise tariffs on Chinese goods starting Jan. 1

Uncertainty prevailed about how Trump, known for his unpredictability, would behave at what was shaping up as one of the group’s most consequential summits.

China’s state-run Global Times said the report’s threat assessment was unfounded.