Trump upbeat on US-China trade meetings

Trump upbeat on US-China trade meetings

Trump upbeat on US-China trade meetings

"The last time a president was this engaged in the trade talks was President Bill Clinton in the run-up to getting China into the WTO", he said. If both sides fail to reach an agreement by March 1, USA tariffs on Chinese goods will be raised to 25 percent from 10 percent.

As part of the deal, Trump agreed to postpone the planned increase in tariffs on $200 billion worth of Chinese goods.

He also insisted "no final deal will be made until my friend President Xi, and I, meet in the near future to discuss and agree on some of the long standing and more hard points".

Chinese negotiators proposed a meeting between Trump and Xi next month in the Chinese city of Hainan, the Wall Street Journal reported.

He says: "All of the many problems are being discussed and will be hopefully resolved".

U.S. and Chinese negotiators start two days of high-level talks Wednesday aimed at settling a six-month trade war that has weakened both sides, shaken financial markets and clouded the outlook for the global economy.

Details of the closed-door talks were scant with official statements seen as unlikely before they conclude on Thursday. A uniformed U.S. Secret Service officer was injured as an unnamed individual was arrested for attempting to "impede the progress" of the Chinese delegation's motorcade near the White House.

"Uncertainty is not the friend of business", Powell said.

The president said the deal he wants will either be "a very big deal" or "it's going to be a deal that we'll just postpone for a little while".

That's because the build-up for the meeting-and the expectations of a deal-will be so high that a negative outcome would tank markets globally and batter both economies.

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The Justice Department's decision to charge Huawei, meanwhile, "has thrown a curveball" into the talks, said Patrick Chovanec, chief strategist at Silvercrest Asset Management Group. Beijing retaliated with levies on $110 billion in United States goods.

But the Chinese side, led by Vice Premier Liu He, would likely have to bring to the table a new offer that goes significantly beyond its previous offers to significantly increase purchases of USA goods, including soybeans, energy and manufactured goods.

A new round of talks with Beijing are taking place this week in Washington.

"I think that probably the final deal will be made, if it's made... between myself and President Xi", he said at a White House event to promote American manufacturing.

The Chinese Communist Party's (CCP) expedited its review of the foreign investment law, which was meant to serve as a bargaining chip for trade negotiations, according to Xie Tian, a professor at the University of SC.

Dennis Wilder, a former top China analyst for the Central Intelligence Agency, said the Chinese are betting they can secure a better deal in direct leader-to-leader horsetrading.

China had brought new thoughts to the table on IP protection and enforcement of such progress, said Brilliant, who was briefed on progress at the halfway point of talks. "Makes so much sense for China to finally do a Real Deal, and stop playing around!"

Trump heralded his steel tariffs on Monday as a'big win' for the United States as his trade war with China came under official review by governing organization for global trade.

He is expected to meet with the Chinese delegation later Thursday.

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