Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Trump says could let March 1 deadline for China trade deal slide

Published 12/02/2019, 17:50
Updated 12/02/2019, 17:50
© Reuters. U.S. President Trump holds a Cabinet meeting at the White House in Washington

© Reuters. U.S. President Trump holds a Cabinet meeting at the White House in Washington

WASHINGTON (Reuters) - U.S. President Donald Trump said on Tuesday that he could see letting the March 1 deadline for reaching a trade agreement with China slide a little, but that he would prefer not to and expects to meet with Chinese President Xi Jinping to close the deal at some point.

Top U.S. officials arrived in the Chinese capital on Tuesday before high-level trade talks, as the world's two largest economies attempt to hammer out the deal and avoid another escalation of tariffs after March 1.

If they are coming close to a complete deal, Trump said he could see pushing off that deadline.

"We’re doing very well over in China,” Trump told reporters at a cabinet meeting, adding that the negotiating team is big.

The United States and China took a 90-day break from their ongoing trade war to try to come to an agreement, with the threat of tariffs hanging over their negotiations.

If the two sides cannot reach a deal by March 1, U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent. China would likely respond by raising tariffs on $60 billion worth of U.S goods that it announced last year in retaliation.

© Reuters. U.S. President Trump holds a Cabinet meeting at the White House in Washington

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.