Trump plans to meet Chinese leader Xi Jinping to resolve trade dispute

01 February, 2019, 00:10 | Author: Sally Reid
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"We're not going to know if those structural changes are going to take place (in China). that can't happen by March 1 but because the atmospheric around these trade talks are likely to be very positive, especially when President Trump meets (China's) Liu He, the markets are going to take that as a sign that progress has been made".

US President Donald Trump, boasting of good progress in first-day trade talks with China, said on Thursday that he and Chinese President Xi Jinping planned to meet soon aiming to work out the toughest issues in the negotiation.

Chinese negotiators proposed a meeting between Trump and Xi next month in the Chinese city of Hainan, the Wall Street Journal reported. If confirmed that would be right around the time Trump is slated to meet North Korean leader Kim Jong-un for nuclear talks.

Lovely said the presence of China's vice premier at the bargaining table, and the anticipated meeting between Liu and Trump, are encouraging.

The talks began two days after the United States charged Chinese telecommunications company Huawei Technologies Co Ltd and its chief financial officer, Meng Wanzhou, with conspiring to violate US sanctions on Iran by doing business through a subsidiary it tried to hide.

Trump added that he and the Chinese representatives were trying to do a complete deal, "leaving NOTHING unresolved on the table".

While saying that Wednesday's first meetings between American and Chinese negotiators had gone well, Trump added in a morning tweet that "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 hard points". Barring a deal before that deadline, tariffs on $200 billion in Chinese goods are set to jump to 25 percent, from 10 percent, on March 2.

Trump stated in a tweet that he wanted Beijing open the Chinese markets not only to financial services but also to "Manufacturing, Farmers and other U.S. businesses and industries".

The talks in Washington are expected to be tense, with little indication so far that Chinese officials are willing to address core USA demands to fully protect American intellectual property rights and end policies that Washington has said force US companies to transfer technology to Chinese firms.

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President Donald Trump has threatened to extend the tariffs to an additional $267 billion in Chinese goods.

But US officials insist the trade talks and Huawei prosecutions are not related.

But the Chinese side would likely have to bring to the table a new offer that goes significantly beyond its previous offers to significantly increase purchases of USA goods, including soybeans, energy and manufactured goods.

Beijing hit back with duties on virtually every product it buys from the United States, about $110 billion in goods annually.

Trade experts say China has begun to crack down on intellectual property theft as well as the forced transfer of technology.

As part of the standoff between the world's two biggest economies, Washington imposed tariffs on $250 billion in Chinese imports.

With just about one month to go before the U.S.

US Commerce Secretary Wilbur Ross, centre left, chats with Chinese Vice Premier Liu He, centre, during a group photograph session after their meeting at the Diaoyutai State Guesthouse in Beijing, June 3, 2018.

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