World Media

High-stakes US-China trade talks resume as deadline approaches

High-stakes US-China trade talks resume as deadline approaches

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.

Also pressuring markets was a report out Thursday that President Trump is planning to sign an executive order next week which would ban Chinese telecommunications equipment from USA wireless networks. President Trump had set a deadline of March 2nd to reach an agreement on trade.

Trump's announcement on Thursday was a reversal for the President, who said last week that he planned to meet Xi to resolve any "final issues" before the trade deal.

That may depend on how trade talks in Beijing go next week.

US President Donald Trump (R) and China's President Xi Jinping (L) along with members of their delegations, hold a dinner meeting at the end of the G20 Leaders' Summit in Buenos Aires, on December 01, 2018. Since then, the two countries have exchanged several rounds of trade tariffs.

Fulham vs. Manchester United - Football Match Report
Ranieri felt his players lacked the composure at 1-0 down to get themselves back into the game against such talented opposition. Since Ole [Gunnar Solskjaer] came in we talked about this, we want to be at the top, in the top four.

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

The report comes just a day after White House economic advisor Larry Kudlow said there is a "pretty sizable distance to go" before China and the USA reach a deal. Mr. Trump recently said he would meet with his counterpart, but the White House backed off that earlier this week and on Thursday firmly said it wouldn't happen. The Kospi in South Korea declined 1.2 percent to 2,177.04 and Australia's S&P ASX 200 was down 0.4 percent at 6,067.60. U.S. Trade Representative Robert Lighthizer is pressuring Beijing to make structural changes that would bring an end to policies that force U.S. companies to hand over technology or intellectual property as a requirement for doing businesses in the country. President Trump has repeatedly threatened increasing tariffs on various Chinese goods imported to the USA if the two sides do not broker a permanent deal to end the standoff. U.S. Treasury bond yields also dropped following the move of investors in securing their safety in sovereign U.S. debt.

CNBC reported that the tariffs were likely to remain at the 10 percent rate. Lighthizer told reporters last week that it was not certain a deal could be reached.

The US stock selloff exacerbated a global market pullback Thursday on worries about a worldwide economic slowdown.

A study released Wednesday by Tariffs Hurt the Heartland, a campaign opposed to tariffs, said an increase to 25% would reduce employment by 934,000 jobs and GDP by 0.37%.


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