China trade talks going well, will meet Xi in near future

01 February, 2019, 00:08 | Author: Kevin Carter
  • The collapse of talks would dash hopes of a lasting truce that would remove one of the darkest clouds hanging over the world economy

Writing on Twitter, Trump said that while he plans to meet with "China's top trade negotiators" today in the Oval Office, he has no intentions of striking a formal trade deal until he meets face-to-face with Chinese President Xi Jinping.

USA and Chinese negotiators on Wednesday opened two days of high-level talks aimed at settling a trade war that has weakened both economies.

"Meetings are going well with good intent and spirit on both sides", Trump said in a tweet Thursday.

Mr. Trump faces pressure to make a deal as both the partial government shutdown and tariffs already imposed are hurting US companies, many of which are opposed to tariffs. "No final deal will be made until my friend President Xi, and I, meet in the near future to discuss and agree on some of the long standing and more hard points".

And he has emerged as the U.S. strongman in the ongoing trade negotiations, determined to force changes in Beijing's economic policies.

Top trade officials from the USA and China are meeting in Washington as a deadline to strike a deal approaches. 'But it's a very big deal, that would be if it does happen, it would be by far the largest trade deal ever made'.

Sources said earlier that China had refrained from committing to substantially altering its tech and government subsidy policies, which form the crux of the U.S. problems with China.

Trump stated in a tweet that he wanted Beijing open the Chinese markets not only to financial services but also to "Manufacturing, Farmers and other USA businesses and industries". "Without this a deal would be unacceptable!"

Trump and Xi agreed in December to a 90-day pause in the trade war between the world's top two economies to allow time for negotiations to proceed.

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However, his outspoken comments in previous meetings and reports that he sparred with other USA officials, caused him to be left on the sidelines of some talks.

A Chinese delegation led by Vice Premier Liu He is in Washington this week for two days of talks, following on from the previous round of negotiations earlier this month. A uniformed U.S. Secret Service officer was injured as an unnamed individual was arrested for attempting to "impede the progress" of the Chinese delegation's motorcade near the White House.

Deepening the challenge is the USA view that China has pledged in the past to curb cyber-theft and forced transfers of technology - and then failed to do so.

Mr. Trump has threatened to tax every good imported from China unless an agreement can be reached, amounting to an additional more than $250 billion.

If a deal is not reached by March 2, USA tariffs will rise from 10 percent to 25 percent.

USA officials and some analysts say they believe its weakening economy will pressure the Chinese into making concessions.

US Commerce Secretary Wilbur Ross, centre left, chats with Chinese Vice Premier Liu He, centre, during a group photograph session after their meeting at the Diaoyutai State Guesthouse in Beijing, June 3, 2018.

Beijing hit back with duties on virtually every product it buys from the United States, about $110 billion in goods annually.

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