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Trump, Xi unlikely to meet before March 1 trade deadline: U.S. officials

Reuters  |  WASHINGTON 

(Reuters) - U.S. and Chinese are unlikely to meet before their countries' March 1 deadline to reach a trade deal, two officials and a source familiar with the negotiations said on Thursday.

The countries had taken a 90-day hiatus in their trade war to hammer out a deal, and another round of talks is scheduled for next week in

told reporters on Thursday that the leaders of the two economic superpowers could still meet later.

"At some point the two presidents will meet, that is what Mr. Trump has been saying. But that is off in the distance still at the moment," he said.

The that the two leaders were now unlikely to meet spurred a sharp selloff in U.S. stocks, dashing the optimism that had been building that the countries were progressing toward a deal before tariffs on Chinese imports rise to 25 percent after the March 1 deadline. The S&P 500 Index tumbled to its low of the day, down 1.6 percent in its biggest drop in more than a month. Treasury bond yields dropped as investors sought safety in sovereign U.S. debt. The benchmark 10-year yield slid 4 basis points to 2.66 percent, the lowest in nearly a week.

"I could see where that would impact the markets because obviously we had a lift in the month of January from optimism surrounding these trade talks," said Peter Jankovskis, at in Lisle, "It does make sense the market is pulling back somewhat on that."

(Reporting by and Jeff Mason; Additional reporting by Alexandra Alper; Writing by Lisa Lambert; Editing by and Alistair Bell)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, February 07 2019. 22:50 IST