Will the U.S. and China finally agree a trade deal?

Will the U.S. and China finally agree a trade deal?

Will the U.S. and China finally agree a trade deal?

Writing on Twitter, Trump said that while he plans to meet with "China's top trade negotiators" today in the Oval Office, he has no intentions of striking a formal trade deal until he meets face-to-face with Chinese President Xi Jinping.

President Donald Trump said on Thursday he wanted a "very big deal" US trade deal with China, but signaled there could be delays if negotiations fail to meet his goals of opening the Chinese economy broadly to USA industry and agriculture. If both sides fail to reach an agreement by March 1, USA tariffs on Chinese goods will be raised to 25 percent from 10 percent.

"Looking for China to open their Markets not only to Financial Services, which they are now doing, but also to our Manufacturing, Farmers and other United States businesses and industries".

"The best hope for getting a deal is a face-to face-meeting" between the two leaders, said Brookings Institution China scholar David Dollar.

The core of the US allegations against China is that Beijing systematically steals trade secrets, forces foreign companies to hand over technology as the price of access to the Chinese market and unfairly subsidizes its own tech companies.

The core of the US allegations against China is that Beijing systematically steals trade secrets, forces foreign companies to hand over technology as the price of access to the Chinese market and subsidizes its own tech companies.

Trump told reporters on Thursday that he expected the two sides to eventually make a deal, but hinted at an extension of negotiations.

U.S. President Donald Trump has threatened to withdraw from the global trade body if it doesn't "shape up". -China trade truce comes to an end, some in the American business community have expressed concerns that many questions remain on whether the two countries can make enough progress before the early-March deadline lapses.

Trump, who has engaged in a series of fights with a variety of trade partners since becoming president in 2017, has acted as the final decision-maker in US trade negotiations. According to CNBC, that meeting could take place in late February, which would provide little margin for error ahead of the March 1 deadline.

The next round of US-China trade talks will resume Wednesday and Thursday in Washington to try to find a way out of the tariff battle between the two powers.

The Chinese trade delegation began two days of negotiations with USA counterparts Wednesday. Asked how the talks were going, Yi flashed a thumbs-up sign.

The draft legislation, which was first reviewed by the NPC's Standing Committee in December 2018, is said to ban compulsory technology transfer, guarantee equal treatment of foreign companies, and protect foreign companies' intellectual property rights. Instead, the pressure would be on the U.S.to reduce tariffs. Critics dismissed Beijing's commitments as vague, and Trump backed away from Mnuchin's deal and made a decision to proceed with tariffs.

United States officials insist that the Huawei case is entirely separate from the trade negotiations.

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