Published: Sun, February 10, 2019
Worldwide | By Myra Stephens

Trump says no immediate plan to meet Chinese leader on trade

Trump says no immediate plan to meet Chinese leader on trade

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.

The Canadian dollar traded for 75.32 cents United States compared with an average of 75.27 cents U.S. on Thursday after Statistics Canada said the economy added 66,800 jobs in January. S. have until the start of March to strike a trade deal.

Last week, at the end of the two days of talks, Trump said in a tweet: "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".

In a meeting at the White House Wednesday, Trump's trade team discussed the next steps for the trade talks, according to a person briefed on the matter.

There had been speculation that Trump might meet the Chinese leader after he flies to Vietnam in late February for a summit with North Korea's Kim Jong Un. "At some point the two presidents will meet, that is what Mr".

The United States is pressing China to make major reforms, including on structural issues related to how it treats US companies doing business there. 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.

Speaking to reporters at the White House on Thursday, Trump confirmed that no meetings between him and Xi were planned before the March 1 deadline for a deal. Hong Kong's Hang Seng Index saw a 0.50 percent decline, and Australia's ASX 200 was down 0.34 percent. Treasury bond yields dropped as investors sought safety in sovereign USA debt.

Mnuchin and US Trade Representative Robert Lighthizer are set to meet their Chinese counterparts next week for trade talks.

Despite the optimism, the White House emphasised in a statement that a scheduled tariff increase on $200bn of Chinese goods to 25 percent from 10 percent was a "hard deadline" if no deal was reached by March 1. "They're making a mistake because they need to be prepared", he said. Lighthizer told reporters last week that it was not certain a deal could be reached.

CNBC reported that the tariffs were likely to remain at the 10 percent rate.

In his State of the Union address on Tuesday, Trump said a trade deal needed to include "real structural change to end unfair trade practices, reduce our trade deficit and protect American jobs". "I have complete confidence in the president, both to close a deal if we get to that point, but also to make that judgment".

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