Trump, Chinese Vice Premier to Talk Trade at White House

Trump, Chinese Vice Premier to Talk Trade at White House
Trump, Chinese Vice Premier to Talk Trade at White House

25 February, 2019

The White House said Trump would meet with China's Vice Premier Liu He, who is leading the delegation from Beijing.

"I think we both feel there's a very good chance the deal will happen", Trump said, adding that the group of negotiators has "been making a lot of progress", CNN quoted Trump as saying.

The discussions were extended into the weekend in search of a broad trade deal to prevent the USA from increasing tariffs on Chinese goods next week.

A Chinese team led by Vice Premier Liu He has been meeting with U.S. Trade Representative Robert Lighthizer and other American officials. "And I would be inclined to doing that".

Currently, the United States is getting a 25 per cent tariff on $50 billion worth of goods from China in mostly technology.

The two countries imposed more than $360 billion in tariffs in two-way trade previous year, after Trump triggered the trade dispute over complaints of unfair trade practices, the VOA reported. The latter grouping would face the 25 per cent tariffs, too, if no agreement is reached. -China relationship. US officials have considered leaving some tariffs in place or reimposing them if China fails to fulfill its promises.

"So this agreement isn't a big "win" for the USA, since China doesn't want a destabilizing yuan devaluation anyway", Brooks said on Twitter. Mnuchin said this week that a leaders' meeting for late March at Trump's Mar-a-Lago resort in Florida is being tentatively planned.

"But I want to have competition with China, fair competition", Trump said.

An extension would hold off a worsening of the trade war that has already disrupted commerce worth hundreds of billions of dollars of goods, slowed global economic growth and roiled financial markets.

"We won't fall into those same pitfalls", U.S. Secretary of State Mike Pompeo said on Thursday in an interview on Fox Business Network.

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The U.S. has charged Huawei with lying about violating sanctions against Iran and with stealing trade secrets.

Huawei will be raised with USA attorneys and the attorney general in the coming weeks, Trump said, but "right now it's not something that we're discussing".

China committed to buying an additional 10 million tonnes of US soybeans on Friday, US Agriculture Secretary Sonny Perdue said on Twitter.

China's retaliation has hit United States farm exports hard. In the first 10 months of 2018, USA soybean exports to China dropped to 8.2 million metric tons from 21.4 million metric tons a year earlier - a 62 per cent freefall, according to the Agriculture Department.

At the meeting, Liu first conveyed the messages from President Xi to President Trump.

The reason why 5G is so critical is that a large number of the technologies and industry in the 21st century will be dependent on 5G: "smart roads, driverless vehicles, the Internet of things, additive manufacturing where you can make things through 3D printing", Rubio said.

"We're getting closer, we're not there yet".

Looking exasperated at the prospect of a sudden complication to the talks at a delicate moment, Mr Lighthizer, who was sitting nearly shoulder-to-shoulder with Mr Liu, jumped in to defend the use of MOUs, contradicting his President.

The conflict has rattled markets.

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