Trump won’t meet Xi before trade deal deadline

Trade Deadline Will Come and Go: Trump Highly Unlikely to Meet Xi Before Mar 1 - Mish Talk

Trade Deadline Will Come and Go: Trump Highly Unlikely to Meet Xi Before Mar 1 - Mish Talk

US President Donald Trump told reporters on Thursday that no meeting has yet been scheduled with Chinese President Xi Jinping, according to a White House pool report.

Investor confidence dented as it became clear that a trade meeting between President Donald Trump and Chinese President Xi Jinping would not happen before a key March deadline.

Last week, Trump and Chinese officials held the second round of talks in Washington but they released few details about progress in their talks.

Trump has said a comprehensive agreement is unlikely until he meets with his Chinese counterpart. President Trump has repeatedly threatened increasing tariffs on various Chinese goods imported to the United States if the two sides do not broker a permanent deal to end the standoff.

The American Soybean Association says trade talks are good, soybean purchases are good, but lifting the tariff that China slapped on USA soybean imports would be better.

At the G20 summit in Argentina in December, Trump and Xi agreed to a 90-day truce to allow room for a new trade agreement.

Trump has vowed to increase US tariffs on $200 billion worth of Chinese imports to 25 percent from 10 percent now if the two sides can not reach a deal by 12:01 a.m. (0501 GMT) on March 2.

Trump said in his State of the Union address Tuesday that any new trade deal with Beijing "must include real, structural change to end unfair trade practices".

CNBC reported that the tariffs were likely to remain at the 10 percent rate. Trump has now dashed China's hopes for a resolution this month, confirming earlier reports suggesting the two would not meet any time soon.

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are leading a group of administration officials headed to Beijing next week as part of the trade talks.

China and the U.

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.

But Reuters later cited three anonymous sources who indicated the CNBC report was incorrect. "By itself, a delay until after March 2 is not a threat to the chances of a deal". However, the purchases don't offset the damage done to the soybean industry since tariffs were imposed. S. were still far away on striking a trade deal.

Chinese officials have said their policies do not coerce technology transfers. "They're making a mistake because they need to be prepared", he said.

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