Trump 'confident' of trade deal with China

Copper price: Chinese concentrate imports hit monthly record

Copper price: Chinese concentrate imports hit monthly record

Asked if he was still confident he could get a deal with China: "Sure, I'm confident, but if we don't make a very good deal for our country, I wouldn't make a deal", Trump said.

Julian Evans-Pritchard, a China economist at Capital Economics, said that if the USA and China "finalize a trade deal soon, the outlook for exports remains gloomy", CNN reported.

Even though officials have sounded more positive about negotiations with the United States recently, failure to achieve a deal would see tariffs on $200bn (£152bn) of Chinese goods rise nearly immediately and could see the U.S. impose fresh tariffs.

But Trump's chief economic adviser Larry Kudlow, speaking on Bloomberg Television at almost the same time as Trump, said the US wants a good deal with China, not a rushed one.

China-US trade in goods
China-US trade in goods

Kudlow told CNBC earlier on Friday that negotiations between USA and Chinese officials have been progressing via video-conference and telephone since the last round of face-to-face talks in Washington two weeks ago, when Trump indefinitely extended a tariff truce. "This idea of a quick deal just to get a pop in the stock market, I just want to strenuously disagree", Kudlow said.

China's February dollar-denominated exports fell 20.7 per cent from a year earlier, far worse than analysts' expectations, while imports dropped 5.2 per cent, official data showed on Friday.

The increasingly weak China data comes amid months of intense negotiations between Washington and Beijing aimed at ending their trade dispute. The trade surplus had been tipped at US$26.38 billion last month from January's US$39.16 billion.

The price of copper slid back again on Friday after trade data showed a plunge in Chinese imports of refined metal, even as concentrate shipments set fresh highs.

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