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Wall Street near flat as trade deal outlook uncertain

16 March 2019

However, Schumer said on the Senate floor, "It is abundantly clear that China is playing us".

USA stocks closed mixed on Thursday as investors digested the latest economic data. "We can have the deal completed and come and sign or we can get the deal nearly completed and negotiate some of the final points".

A discussion was held between China's vice premier Liu He and U.S. trade representative Robert Lighthizer and treasury secretary Steven Mnuchin by phone on Thursday, and that "further material progress" has been made over the wording of the agreement document, Xinhua news reported.

Donald Trump told reporters at the White House that "we're going to know over the next three to four weeks" whether there will be a trade deal with China.

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The agreement also "needs to be right - that's more important than the exact timing", Mnuchin said.

On March 13, Trump stated that he is in No Rush to Complete China Trade Deal.

"I do not think that any type of agreement with China on trade and investment is sustainable, because it is a zero sum game. It's got to be a good deal for us and if it's not, we're not going to make that deal".

At a separate hearing in the House of Representatives on Thursday, Mnuchin said he expected elements of the discussions to be resolved in the near future, as the two sides pore over a 150-page document they are working on.

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Trump imposed tariffs on imported steel and aluminum in the name of national security, but those tariffs have led to a series of retaliatory tariffs from Canada and Mexico targeting farm country.

Trump acknowledged on Wednesday that Xi may be reluctant to come to the US president's Mar-a-Lago estate in Florida without an agreement in hand after seeing Trump end a separate summit in Vietnam with North Korean leader Kim Jong Un without a peace deal. "I would prefer that, but it doesn't matter that much", he said.

In December, Trump gave China 90 days to conclude a deal Otherwise.

"It's an exciting time in terms of trade", Trump said. We just made a deal with Mexico, Canada. "We have other deals that we have cooking", he said.

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Johnson & Johnson slipped 0.8 percent after a California jury awarded $29 million to a woman who said that asbestos in the company's talcum-powder-based products caused her cancer. Trump said he would boost tariffs on $200 billion of Chinese goods to 25% from the current 10%.Those 90 days ended March 1.

Wall Street near flat as trade deal outlook uncertain