Business Standard

Trump says no final trade deal with China will be made until he meets Xi


Press Trust of India Washington
President Donald Trump on Thursday said the US-China trade talks are "going well" but ruled out announcing a final deal unless he meets his Chinese counterpart Xi Jinping to address some of the long-standing and "more difficult points".
In a series of tweets as the trade negotiations entered a second day, Trump said a final deal would leave "NOTHING" unresolved.
The US and Chinese officials returned to the negotiating table on Wednesday to finalise a bilateral trade agreement which would address President Trump's major concerns with regard to China in particular the massive trade deficit and theft of intellectual properties.
US Trade Representatives Robert Lighthizer is leading the American delegation, while the Chinese team is headed by Vice Premier Liu He.
Ahead of his meeting with the Chinese trade delegation, Trump said he is looking for China to open their markets not only to financial services, but also to the US manufacturing, farmers and other US businesses and industries.
Without this a deal would be unacceptable! said the president.
Trump and Xi during their meeting in Argentina on December 1 on the sidelines of the G-20 Summit have set March 1, 2019 as the deadline to find a solution to the bruising trade war under which Trump has imposed over USD 250 billion worth of Chinese exports.
Trump threatened to slap additional tariffs on all Chinese exports unless China brings down the USD 375 billion trade deficit.
Following his meeting with Xi in Argentina on December 1 on the sidelines of the G-20 Summit, the two leaders agreed to give a temporary pause to their trade war for 90 days and set this as a deadline to arrive at a trade deal.
"China's top trade negotiators are in the US meeting with our representatives. Meetings are going well with good intent and spirit on both sides. China does not want an increase in Tariffs and feels they will do much better if they make a deal. They are correct, Trump said.
I will be meeting with their top leaders and representatives today in the Oval Office. No final deal will be made until my friend President Xi, and I, meet in the near future to discuss and agree on some of the long standing and more difficult points, he said.
Very comprehensive transaction.... China's representatives and I are trying to do a complete deal, leaving NOTHING unresolved on the table," he said.
"All of the many problems are being discussed and will be hopefully resolved. Tariffs on China increase to 25% on March 1st, so all working hard to complete by that date! Trump tweeted.
Later, interactiing with reporters, Trump said any final deal will be made between myself and president Xi."

He said negotiators will "certainly" be talking about intellectual property theft.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 31 2019 | 11:50 PM IST

Explore News