No talks between Trump and China's Xi before trade deadline
No talks between Trump and China's Xi before trade deadline
Trade Deadline Will Come and Go: Trump Highly Unlikely to Meet Xi Before Mar 1 - Mish Talk
10 February, 2019, 15:00
PresidentDonald Trump told reporters at the White House Thursday he would not meet with Chinese President Xi Jinping before the March 1 deadline, after which 10% tariffs are set to rise to 25%. When asked by reporters at the White House later if he would meet with Xi before the end of the month, Trump shook his head and said "no", according to reports. Then he added, "Unlikely". "It's encouraging that the administration is keeping soybeans in their trade conversations with China", says Davie Stephens, ASA President.
Trump said last week he would meet Xi again to finalise the final deal.
The broad-based declines are largely a result of the news that Trump indicated that he would not be meeting his Chinese counterpart before March 2, which marks the end of a 90-day tariffs truce mooted after Trump and Xi met in December.
Canada's main stock index posted a triple-digit decline in late-morning trading as the Toronto market was hit by broad-based weakness and US markets sank into the red. It is also expected that the situation will negatively affect the US stock market.
Asked during an event in the Oval Office whether there would be a meeting before the deadline, Trump said: "No". -China trade negotiations, which Bowen said lead some companies to relax a bit and back off of their contingency planning.
There is growing concern among officials that Mr Trump could agree to a cosmetic deal that would not address core issues like China's alleged intellectual property theft, according to a person familiar with the talks. But the president and other senior administration officials have publicly and privately stated the negotiations are going well and that the two sides are continuing to bridge their differences at every round of talks. On Wednesday, Treasury SecretarySteven Mnuchin said there was "a lot of work left to do" before reaching a deal.
The president is headed to Asia to meet North Korean leader Kim Jong Un in Vietnam Feb 27 and Feb 28. He tweeted last week that he plans to meet the Xi to hammer out a deal.
A senior Trump administration official said Trump and Xi may meet shortly after March 2, CNBC said.
The March 2 tariff hike (if it happens) won't come as a surprise to the business world.
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.
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