Trump says China trade talks going well

Apr 07, 2019, 01:24
Trump says China trade talks going well

"But it looks like it is moving along very nicely". "We've agreed to far more than we have left to agree to".

The two sides, he said, have negotiated some of the toughest points, but there are still some ways to go. He added that he thinks there's a "very good chance" there will be a summit expressed his intention for it to be held in the United States, saying "it will be here".

So said President Trump yesterday after meeting with the head of China's trade delegation.

President Xi Jinping has called for an early conclusion to negotiations, the official Xinhua News Agency reported. It will be here. If we have a deal, then we're going to have a summit.

"We're going to give them a one-year warning", he said.

Administration officials initially envisioned a summit between Trump and Xi potentially taking place in March, but some US lawmakers and lobbying groups have said recently they were told that the administration was now aiming for a deal in late April. The two sides had appeared to make some progress on the issue in January, when China approved a handful of GMO crops for import. "I would say we'll know over the next four weeks", he said.

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USA and Chinese officials are still discussing when the two leaders could sit down to sign off on their trade deal.

Responding to questions from reporters, Trump said, "We've never done a deal like this with China", predicting the agreement could be "the granddaddy of them all" and "a tremendous thing for the world". "We've made a lot of progress".

"Within the next four weeks, or maybe less, or maybe more, whatever it takes, something very monumental could be announced", he continued.

The two countries have made considerable progress on the issues that divide them.

"Trump is pressing China at the last stage of the talks, requiring it to offer greater concessions on market opening and strengthen the supervision over the implementation of promises", said Li Yishuang, a Shanghai-based economist at China Securities Finance Co. who specialises in worldwide trade.

For his role, Vice Premier Liu He, at the White House, stated he "agreed" and that doing this will be a really "good strategy", according to the English news organization Reuters. The Trump Administration wants to maintain the current tariff levels, with gradual reductions as China becomes more compliant with the US' demands.

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Failure to achieve a deal may see the United States more than double the 10% tariffs on $200bn (£153bn) of Chinese goods and impose fresh tariffs.

Washington and Beijing since a year ago have imposed tariffs on more than US$360 billion (RM1.4 trillion) in two-way trade, biting into their manufacturing sectors as the world economy slows.

Despite strained ties between the two countries amid a lengthy trade war, the US president told a fundraising dinner in Washington, D.C. on Tuesday that he stroked Xi's ego by calling him a monarch. Senate Finance Committee Ranking member Ron Wyden in a statement asked for a strong trade deal with China.

The White House has yet again found a way to confound reporters, with major news outlets issuing conflicting headlines about plans for ongoing trade talks with China this week.

But there have been no timelines set for fixing structural issues including forced technology transfers and a crackdown on intellectual property theft.

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