Talks still on, trying chalk out Phase-I of trade deal with China: Trump

U.S. President Donald Trump said on Wednesday the United States is continuing to talk to China but gave no other details, as both sides tried to hammer out a phase one trade deal ahead of looming U.S. tariffs due next month.

"We continue to talk to China. China wants to make a deal. The question is: Do I want to make a deal? Because I like what's happening now," Trump told reporters at the White House.

Trump last month announced an agreement for an initial trade deal with Beijing but no formal agreement has been released. The pact had initially been expected to be signed by mid-November, but experts now say it could be pushed into next year.

 

Two people briefed on the talks have said Trump wants deeper concessions from China in order to roll back existing tariffs and cancel additional tariffs on some $156 billion in Chinese consumer goods scheduled to take effect Dec. 15.

On Tuesday, Trump also threatened to raise tariffs if no deal is reached with Beijing.

The ongoing trade dispute between the world's two largest economies have roiled financial markets and threatened global economic growth.