Friday, 22 February, 2019

No talks between Trump and China's Xi before trade deadline

Trump and Xi shake hands after making joint statements in Beijing in November 2017 Trade Deadline Will Come and Go: Trump Highly Unlikely to Meet Xi Before Mar 1 - Mish Talk
Leonard Rios | 11 February, 2019, 07:12

US President Donald Trump on Thursday stated that his meeting with Chinese counterpart Xi Jinping will not take place anytime before the trade deal deadline that is scheduled till March 2.

Speaking to reporters at the White House on Thursday, Trump confirmed that no meetings between him and Xi were planned before the March 1 deadline for a deal.

Lighthizer and Steven Mnuchin, the Treasury secretary, will lead an American delegation to Beijing next week for more trade talks.

Time is running out for the USA and China to reach an agreement before the deadline the Trump administration has set to more than double tariffs on US$200 billion of Chinese goods.

It was initially expected Trump and Xi would meet alongside the president's summit with North Korean leader Kim Jong-un between February 27 and 28 in Da Nang, Vietnam.

Trump claims that he is in a warm relationship with the Chinese president.

The S&P 500 Index closed down 0.93 percent in its biggest drop in two weeks.

Backed Kurds launch final attack against IS in Syria
He said that when the SDF detects movement from IS fighters, they bomb them, but added: "There have not been any major changes". The regime has made a military comeback with Russian military support since 2015, and now holds nearly two-thirds of Syria.

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It noted that it's working with its "new neighbors" in Queens, including small business owners, educators and community leaders. The Washington Post , it should be added , is owned by Jeff Bezos , who is the founder, chairman, CEO, and president of Amazon .

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North Korea has been known to parade its missiles through the streets and has aggressively pursued a nuclear program. State Department, he'll be meeting with his North Korean counterpart again before the Kim-Trump summit.

He does anticipate the USA and China could reach a deal later this year to remove the tariffs, with the upcoming election cycle playing a role in the timing.

The US stock market has fallen in response to the news, with hopes of a swift trade pact between the two leaders quickly dampened. The benchmark 10-year yield slid four basis points to 2.66 percent, the lowest in almost a week. "They're making a mistake because they need to be prepared", he said.

Yet as he approaches a potential deal, some of the very hawks who have cheered on Trump's trade war already fear he may end up falling short.

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

Despite the optimism, the White House emphasised in a statement that a scheduled tariff increase on $200bn of Chinese goods to 25 percent from 10 percent was a "hard deadline" if no deal was reached by March 1. It also did nothing to remove the underlying cause - Chinese retaliatory tariffs - of last year's collapse in US soy exports to China. Lighthizer and Chinese Vice Premier Liu He met last week in Washington for trade talks. "I have complete confidence in the president, both to close a deal if we get to that point, but also to make that judgment".

CNBC reported that the tariffs were likely to remain at the 10 percent rate. The president has said repeatedly that the tariffs would go up if no deal has been reached, and that position has not changed, one source said.

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