Trump says no plan to meet China's Xi before trade deal deadline

10 February, 2019, 15:01 | Author: Carlos George
  • Trump and Xi shake hands after making joint statements in Beijing in November 2017

Although White House has not revealed any plans, it is expected that the two presidents; President Trump and his Chinese counterpart, President Jinping, will be expected to meet at the end of February in anticipation of the final trade arrangements.

After that, Trump said that a meeting with Chinese President Xi Jinping will not take place before the crucial March deadline.

Trump is also uncertain whether there will be a meeting scheduled next month.

Trump said last week he did not think he would need to extend the March 1 deadline, adding that he believes "every point will be agreed to" when he meets Xi.

Asked whether there could be a meeting with Xi around March, Trump said, "Not yet". That marks the end of a 90-day tariffs truce mooted after Trump and Xi met in December.

Trump has been saying.

White House economic adviser Larry Kudlow told reporters that the leaders of the two economic superpowers could still meet at a later date.

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Meanwhile, the stock market in the U.S. experienced a sharp fall on Thursday after Trump confirmed that he would not meet Xi Jinping anytime before the trade deal deadline.

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

According to Peter Jankovskis, co-chief investment officer at Oak Brook Investments LLC in Lisle, Illinois, said believes said that the market was affected because the market was lifted in the month of January because of the optimism that surrounds the trade talks.

The news prompted a selloff in United States stocks overnight, with the S&P 500 Index closing 0.93% in its biggest drop in two weeks. U.S. Trade Representative Robert Lighthizer said he and Treasury Secretary Steven Mnuchin would advise the president on any future talks with Xi after they get back to the U.S.

In his State of the Union address on Tuesday, Trump said a trade deal needed to include "real structural change to end unfair trade practices, reduce our trade deficit and protect American jobs". Kudlow also indicated, however, that President Donald Trump is "optimistic with respect to a potential trade deal".

CNBC reported that the tariffs were likely to remain at the 10 percent rate. They include US demands that China boost imports of USA products, and Chinese government and corporate pressure on US firms to transfer their technology to Chinese partners. "They're making a mistake because they need to be prepared", he said.

Lighthizer said last week that tariffs had not been a subject of the talks.

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