Trump says summit with Xi set in March
- Author: Tracy Klein Feb 25, 2019,
Feb 25, 2019, 1:14
Both Mnuchin and Liu went inside without commenting, with Liu smiling when asked if the two sides would have a deal by the end of the day.
Trump will meet with Vice Premier Liu He, China's top trade negotiator. "The fact that they're willing to stay for quite a bit longer period, doubling up the time, that means something", Trump said, adding: "I think there's a good chance that it happens".
U.S. President Donald Trump listens to China's Vice Premier Liu He (Right) during talks in the Oval Office of the White House, in Washington on January 31, 2019.
The two sides have met in Beijing and Washington in recent weeks as part of ongoing negotiations after Trump and Xi agreed to a 90-day truce to stave off USA tariffs on Chinese imports from escalating, during a December 2018 meeting at the sidelines of the G-20 Summit in Argentina. "The risk to privacy from this technology is very, very real, and we're out sharing this information".
The meeting, which could take place in late March at Trump's Mar-a-Lago resort in Florida, would seek to resolve months of trade tensions between the world's two largest economies.
The administration contends that Beijing has repeatedly failed to live up to its past commitments to open its markets and to treat foreign companies more fairly.
We recently got trade figures from November, which showed that the president's China tariffs are costing north of $2 billion a month even at the 10 percent level. The latter grouping would face the 25 per cent tariffs, too, if no agreement is reached. The U.S. Justice Department indicted Huawei in January, accusing the company of industrial espionage.
Graham says all the US wants is for China to play by the WTO rules as a developed nation. "It is my hope that our two sides will continue to work together in the spirit of mutual respect and win-win cooperation, and could redouble our efforts so as to meet each other halfway and reach an agreement that works for our mutual benefit", said the Chinese President.
"But I want to have competition with China, fair competition", Trump said.
"You can tell this to President Xi", Trump said to Liu. That would prevent a further escalation in a trade war that already has disrupted commerce in goods worth hundreds of billions of dollars, slowed global economic growth and roiled markets. With China's economy slowing and signs of some softening in USA growth as well, analysts say both sides have incentives to resolve the trade conflict.
The U.S. has charged Huawei with lying about violating sanctions against Iran and with stealing trade secrets.
China has also committed to buy an additional 10 million metric tonnes of U.S. soybeans.
But the triumph of Tariff Man would also convince many that bullying rivals and shunning allies will make America great again.
"In Oval Office meeting today, the Chinese committed to buy an additional 10 million metric tonnes of United States soybeans".
In front of Liu and the press corps, Trump ridiculed members of his own trade team for using the term "memoranda of understanding", or MOU, to describe the agreements they were working out with the Chinese. "You need objective arbitrators to make a decision". "They're getting closer to getting an agreement".
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.