Trump Says China Trade Talks Going Well, Will Only Accept 'Great' Deal

US-China talks making progress could extend White House economic adviser Larry Kudlow

US-China talks making progress could extend White House economic adviser Larry Kudlow

U.S. President Donald Trump said on Thursday that trade talks with China were going well and he would only accept a "great" deal as negotiators hammered out differences ahead of a meeting between Trump and China's vice premier later in the day.

"This is an epic deal, historic - if it happens", said Mr Trump. China wants the tariffs lifted, while US officials are wary of giving up that leverage, at least for now.

Trump said any trade deal with China was probably still weeks away, although both sides were making progress on an accord that could be "very monumental".

U.S. President Donald Trump meets with China's Vice Premier Liu He in the Oval Office of the White House in Washington, U.S., April 4, 2019. "We are rounding the turn".

Trump, 72, visited Beijing in November 2017, just months before China's rubber-stamp legislature, the National People's Congress, dropped the two-term limit on the Chinese presidency in March.

Addressing the National Republican Congressional Committee spring dinner in Washington on Tuesday, Trump said Xi had denied he was a king.

"The (Trump) administration has been equally clear that they want to keep some of the tariffs in place as a way to have leverage over China fulfilling its obligations under whatever final package is reached". Speaking at the White House, the president said the two countries are nearing a deal.

S&P 500 Index futures and Treasury yields ticked higher, though moves were muted. It was trading up less than 0.5 per cent after surging earlier in the session. There's no timetable for further negotiations after that, the official said.

"We're going to make a very good deal or we're not going to make a deal at all", he said.

Prince Harry Calls for a Ban to Fortnite and Other Addictive Games
Prince Harry is the Duke of Sussex , and is the grandson of Queen Elizabeth, the reigning monarch in the United Kingdom. So will Meghan and Harry avoid that big press call? Check out The Cheat Sheet on Facebook!

He also vowed to eliminate the United States' chronic trade deficit with China, yet saw it climb to a record US$419.2b in 2018.

The U.S. and China have been in an escalating tariff war for months, as Mr. Trump has accused China of unfair trade practices and intellectual property theft.

In a speech to the Republican committee, Trump said that if it had not been for the tariffs, the Chinese economy would have caught up with the U.S.

"The US has departed very sharply from market-oriented philosophy", he said of China's likely announced purchases".

Drafts of an agreement to end a almost yearlong trade war would give Beijing until 2025 to meet commitments on commodity purchases and allow American companies to wholly own enterprises in the Asian nation, according to people familiar with the talks. Those would be binding pledges that could trigger USA retaliation if unfulfilled, according to the people, who asked not to be identified because the talks are private.

U.S. Trade Representative Robert Lighthizer, who is leading the talks for the Trump administration, said there were still some "major, major issues" to resolve and praised Liu's commitment to reform in China.

White House economic adviser Larry Kudlow has declined to give a deadline for a deal, saying last week that the talks were "not time dependent" and could be extended for weeks or even months longer.

The limited time frame raises questions about how much a deal would reshape the longer-term economic relationship, rather than simply serve as a political win for Mr Trump that would last through his potential second term as the 2020 election campaign kicks off.

-With assistance from Jeffrey Black, Jennifer Jacobs, Saleha Mohsin, Yinan Zhao, Miao Han, Dandan Li, David Sucherman and Shawn Donnan.

Recommended News

  • Target raises its minimum hourly wage

    Target raises its minimum hourly wage

    Ochsner Health system is increasing their minimum wage rate for 1,200 employees across the system starting January 20. As of late March, Michigan's minimum wage comes in at $9.45 per hour.
    United Nations  chief warns of risk of confrontation in Libya

    United Nations chief warns of risk of confrontation in Libya

    In the northwest, meanwhile, strong forces in Zintan are allied to the LNA, but have also yet to announce a policy. The Salafists are also based in the west of Libya including Tripoli, where a Salafist force controls the airport.
    Australia laws threaten social media executives over content

    Australia laws threaten social media executives over content

    Scott Farquhar, co-founder of the Sydney-based software company Atlassian, predicted job losses in the technology industry. Australia's parliament has passed legislation punishing Internet platforms for failing to remove violent audio and video.
  • Australian Opposition reveals ambitious climate change action plan

    Australian Opposition reveals ambitious climate change action plan

    The higher the price of having to buy credits, the more businesses will look at their own emissions, Ms de Wit said. Single-use plastic bags and microbeads will be banned across Australia from 2021 under a Labor plan to cut waste.
    Owner of company among 4 killed in Mandan

    Owner of company among 4 killed in Mandan

    Gina Kessel, 52, of Mandan, showed up at the business Monday to pick up her son, Mitchell Kessel, an employee there. I don't know how it happened, what it happened with. 'I don't know how it happened, what it happened with.

    New video shows top boxing contender in brutal garage brawl

    After he was hit by the woman, Grayton retaliates against her as Stevenson begins punching the man as he attempted to intervene. Stevenson had a cut on his lip and Grayton had cuts on his knuckles, the report said.
  • Real Madrid 'deny interest in signing Adrien Rabiot from Paris Saint-Germain'

    Real Madrid 'deny interest in signing Adrien Rabiot from Paris Saint-Germain'

    Rabiot hasn't featured for PSG in four months, with the Ligue 1 leaders refusing to play him while his contract situation remains unresolved.

    Terminator: Dark Fate Footage Reaction and Review

    Paramount screened the first look at Terminator: Dark Fate , the upcoming chapter in the franchise, directed by Deadpool's Tim Miller .
    Lori Loughlin Arrives at Court for College Admissions Scandal Case

    Lori Loughlin Arrives at Court for College Admissions Scandal Case

    They were arrested along with dozens of others last month in the investigation authorities are calling Operation Varsity Blues . Huffman did not speak other than to respond to a series of yes or no questions by the judge during the brief hearing Wednesday.
  • Ottawa residents asked to check vaccine records to prevent local measles spread

    Ottawa residents asked to check vaccine records to prevent local measles spread

    If you develop any symptoms of measles, please call your doctor's office immediately to let them know of your condition. The Health Service Executive has confirmed an outbreak of measles in Dublin with 10 cases identified since February.
    Taliban Kill At Least 20 Afghan Troops In Badghis Province

    Taliban Kill At Least 20 Afghan Troops In Badghis Province

    The Taliban first stormed all the security posts around the compound, he told The Associated Press news agency. The insurgents refuse to talk directly with the government in Kabul, considering it a U.S. puppet.
    Man charged with killing Nipsey Hussle pleads not guilty

    Man charged with killing Nipsey Hussle pleads not guilty

    Police said he fled the scene in a vehicle driven by a woman who has since been interviewed by police and released, police Lt. The shooting launched a citywide manhunt for Holder, who was found two days later in the nearby city of Bellflower.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.