US President Donald Trump says could extend China trade talks deadline
13 February, 2019, 07:13 | Author: Gerard Cortez
United States and Chinese officials expressed hope on Monday (Feb 11) that this week's round of talks would bring them closer to easing their seven-month trade war.
The comments came as the third round of trade negotiations were set to resume in Beijing to avert more than doubling tariffs on $200 billion in Chinese imports.
Top US officials arrived in the Chinese capital on Tuesday ahead of high-level trade talks as the world's two largest economies attempt to hammer out a deal ahead of a March 1 deadline and avoid another escalation of tariffs.
"We're doing very well over in China", Trump added.
A March 1 deadline is looming for China and the U.S. to strike an accord before Washington hikes tariffs on Chinese goods to 25%. While those purchases will provide relief to USA farmers, there has been no breakthrough on the structural issues separating the two nations, such as industrial policy, government subsidies, protection of intellectual property or forced transfers of technology.
U.S. Treasury Secretary Steven Mnuchin, a member of the U.S. trade delegation to China, leaves a hotel in Beijing, China February 13, 2019.
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US President Donald Trump has said he could extend the 1 March deadline to reach a trade deal with China if they are making good progress.
The talks kicked off in Beijing with discussions among deputy-level officials on Monday before minister-level meetings later in the week.
Trump said last week he did not plan to meet with Xi before the March 1 deadline.
While China has offered to buy more U.S. soybeans and beef, officials have yet even to agree on a draft of a deal that would address key USA concerns, according to media reports.
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Mnuchin and US Trade Representative Robert Lighthizer are set to meet their Chinese counterparts next week for trade talks. WALL STREET: Stocks closed lower on Thursday following a sell-off by technology companies, health care stocks and banks.
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