No US-China Trade Deal until I Meet with Xi Jinping

China Intellectual property

The Wall Street Journal reports that China has floated the idea of a meeting in late February-ahead of the March 2 deadline for new United States sanctions to take effect. They're coming to the White House for a meeting with Trump on Thursday afternoon.

Trump said in his tweets negotiators are working to complete a deal, leaving "NOTHING unresolved on the table" before the March 1 deadline agreed by both sides.

Economists say that prospect - a sharp escalation in the US-China trade war which past year saw the two countries slapping tariffs on more than $360bn in two-way trade - would be a big blow to the global economy.

"It will get worse for both U.S. and Chinese firms and financial markets if Washington and Beijing can not show enough progress to at least delay the March 2 tariff deadline, said Nicholas Lardy, a senior fellow and China trade expert at the Peterson Institute for International Economics in Washington".

"We've made progress, "US Trade Representative Robert Lighthizer said".

These included USA demands that China take steps to protect American intellectual property and end policies Washington says force U.S. companies to turn over technology to Chinese firms.

The trade war has magnified uncertainties for businesses, raised priced in some sectors and unsettled investors. The announcement came hours before the start of the two days of talks.

Timothy Keeler, former chief of staff at the Office of the U.S. Trade Representative, said he thinks a U.S.

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The agreement to continue talking raises hopes the world's two biggest economies could find a way to end the conflict before March 1, when the USA has said it may more than double tariffs on $200 billion of Chinese goods. One possibility would be for the two sides to issue a memorandum of understanding, raising questions over how enduring such a deal would be and whether it would last into another administration. But he added that the criminal charges brought against Huawei are not a part of negotiations.

The U.S. -China trade hostilities have weakened both economies, shaken financial markets and clouded the outlook for global trade.

During an earlier visit by Liu previous year, Trump declined to meet with Xi's close adviser, a slight that irritated Chinese authorities.

The US tariffs on Chinese goods are just one front in Trump's efforts to upend the global trading order with his "America First" strategy. But US business groups said the draft law will not address the real regulatory issues of concern where forced technology transfer is occurring in the Chinese system. "Hopefully they make some good progress that will set them up to be able to get to completion at the end of the 90 days".

Trump this month said that China's slumping economy gave the country no choice but to make serious commitments.

Liu said that China hopes to accelerate that timetable.

While the administration says its prosecution of Huawei is not related to the trade talks, the case illustrates what authorities have described as a long-standing problem in China.

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