Trump won't meet Xi before trade deal deadline

Trump and Xi shake hands after making joint statements in Beijing in November 2017

Trump and Xi shake hands after making joint statements in Beijing in November 2017

Trump is also uncertain whether there will be a meeting scheduled next month. Maybe. Probably too soon.

Earlier, towards the end of January, President Trump revealed in a tweet that he would be expecting to meet his counterpart to negotiate on some of the most hard issues that the two countries have been holding for decades. Messrs. Trump and Xi agreed on December 1 to 90-day truce in the trade dispute.

With a March 1 deadline fast approaching, USA and Chinese officials resume negotiations next week to prevent escalation of a trade dispute that has major implications for the global economy. Another round of talks is scheduled for next week in Beijing.

Trump responded "No" and shook his head Thursday when reporters at the White House asked him if he would meet with Xi this month.

Trade discussions between the USA and China are far from over.

A meeting between President Donald Trump and Chinese President Xi Jinping may not happen before a temporary truce in the US-China trade war is set to end. Since then, the two countries have exchanged several rounds of trade tariffs.

"At some point the two presidents will meet, that is what Mr. Trump has been saying. But that is off in the distance still at the moment", he said.

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Unless American and Chinese negotiators come to a new agreement, the USA is expected to raise import taxes from 10 per cent to 25 per cent for USD200 billion in Chinese goods. The Kospi in South Korea declined 1.2 per cent to 2,177.05 and Australia's S&P ASX 200 was down 0.3 per cent at 6,071.50. Treasury bond yields dropped as investors sought safety in sovereign USA debt. The benchmark 10-year yield slid four basis points to 2.66 percent, the lowest in almost a week.

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. He added that U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin leaves on Monday for the next round of talks in China hoping for more success.

Last week, Trump and Chinese officials held the second round of talks in Washington but they released few details about progress in their talks. "They're making a mistake because they need to be prepared", he said. "We need an agreement at the end of the 90-day period that specifically rescinds the tariff that China has imposed on USA soybean imports". They include USA demands that China boost imports of US products, and Chinese government and corporate pressure on US firms to transfer their technology to Chinese partners. China denies the accusations. S. have until the start of March to strike a trade deal.

Such reforms have been a sticking point in talks so far.

"Trump meeting Xi makes it more likely any deal will last". Markets in China were closed.

Asked whether there could be a meeting with Xi around March, Trump said, "Not yet". Trump has threatened to raise tariffs from their current 10 percent level to 25 percent at the deadline.

But Reuters later cited three anonymous sources who indicated the CNBC report was incorrect.

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