Published: Fri, February 01, 2019
Money | By Bruce West

Trump Says No Final China Trade Deal Until He Meets With Xi

Trump Says No Final China Trade Deal Until He Meets With Xi

At the end of 2016, Donald Trump appointed Navarro as head of the newly-created White House National Trade Council.

Trump took a tough stance with China a year ago to end Beijing's decades-long protectionist and trade-distorting practices, by imposing tariffs and investment restrictions.

The meetings are "going well", Trump said on Twitter.

Trump has threatened to raise tariffs on $200 billion of goods to 25 percent from 10 percent on March 2 if an agreement can not be reached.

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". -China trade talks. Reuters reported that groups, such as the U.S. Should the talks fail, USA import duties on $200 billion in Chinese imports are due to more than double on March 2 - something economists say could help knock the wind out of the global economy's sails. Should the talks fail, United States import duties on $200 billion in Chinese imports are due to more than double on March 2 - something economists say could help knock the wind out of the global economy's sails. Barring a deal before that deadline, tariffs on $200 billion in Chinese goods are set to jump to 25 percent, from 10 percent, on March 2.

On Wednesday, a Chinese delegation led by the country's Vice Premier Liu He, arrived at the Eisenhower Executive Office Building next to the White House, where cabinet ministers will spend two days trying to settle a trade war that is in its seventh month.

Details of the closed-door talks were scant with official statements seen as unlikely before they conclude on Thursday. He was scheduled to speak with both U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

Stocks in Asia and Europe advanced on Thursday, following gains in the United States on Wednesday.

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

'We would like to make a deal but it has to be a deal that will work for both parties, ' he said.

Officials for both sides are now meeting in Washington in an effort to strike a deal.

Still, Monica de Bolle, senior fellow at the Peterson Institute for International Economics, said Tuesday the Huawei case could only complicate matters in the trade negotiations.

Beijing hit back with duties on virtually every product it buys from the United States, about $110 billion in goods annually.

By March 1, China may commit to opening its market significantly to USA products, especially in the agricultural sector and delivering foreign investment reform that ends forced technology transfer, she said.

The president also said that he did not want to sign a trade deal that would amount to little more than a band-aid and would allow tensions - perhaps including longstanding intellectual property disputes such as the one that drove the US Department of Justice to file charges against Chinese electronics giant Huawei - to continue to simmer beneath the surface.

Like this: