Monday, 17 June 2019
Latest news
Main » Trump says meeting with Xi before March 1 trade deadline is ‘unlikely’

Trump says meeting with Xi before March 1 trade deadline is ‘unlikely’

10 February 2019

Trump has now dashed China's hopes for a resolution this month, confirming earlier reports suggesting the two would not meet any time soon.

Trump said last week he did not think he would need to extend the March 1 deadline, adding that he believes "every point will be agreed to" when he meets Xi.

After the 90-day "cease-fire" was announced, the Trump administration maintained tariffs on $200 billion worth of Chinese imports would rise from 10% to 25% if the two parties did not reach a deal before the deadline.

"The likely outcome is that the tariffs remain at the current 10 percent rate", CNBC reported Thursday, citing administration officials and sources briefed by the White House.

US Treasury Secretary Stephen Mnuchin and trade representative Robert Lighthizer will lead a delegation to Beijing next week for the next round of trade talks.

He does anticipate the US and China could reach a deal later this year to remove the tariffs, with the upcoming election cycle playing a role in the timing.

More news: Officials say man shot at border is alive

As the March 1st deadline for ending a trade standoff between the United States and China looms, negotiations between the two countries are taking a serious turn even as top U.S. negotiators head to China next week to usher in the next phase of the negotiation process. Rather, it was due to the amount of work that still needed to be done by negotiators.

Chinese officials have said their policies do not coerce technology transfers.

His position, together with a threat to raise tariffs on more Chinese imports on March 2, may be a USA tactic to extract concessions from China, especially in structural areas such as alleged intellectual property theft and forced technology transfer.

Headline indices of the Japan share market declined on Friday, 08 February 2019, as risk sentiments turned downbeat amid renewed concerns about a U. S.

Speaking to Fox Business on Thursday, White House economic adviser Larry Kudlow said the administration is hoping for a trade agreement with China, but, "We've got a pretty sizable distance to go".

The president is headed to Asia to meet North Korean leader Kim Jong Un in Vietnam Feb. 27 and Feb. 28.

More news: Britain's Prince Philip (97) surrenders driving licence after auto crash

A delay in the meeting between Trump and Xi isn't a deal breaker, says Derek Scissors, a China expert at the American Enterprise Institute.

"If we do make headway, and the president thinks we're close enough that he can close the deal on major issues, then I think he'll want to have a meeting and do that", he told reporters.

Trump later confirmed the two leaders will not meet before the March 1 deadline of the tariff truce between the United States and China. "By itself, a delay until after March 2 is not a threat to the chances of a deal".

Stocks in the U.S. fell sharply on Thursday after reports that Trump and Xi would not meet.

Kudlow added that he had a "good vibe" about ongoing talks, and said that he saw all trade issues between the two countries as potential topics for discussion.

More news: Palestinians reject invitation to attend US Mideast meeting in Poland

Trump says meeting with Xi before March 1 trade deadline is ‘unlikely’