Trump eases stance on China tariff deadline
- 1 month ago
President Donald Trump announced that he would consider delaying the current trade deadline of March 2 should U.S. and China reach an agreement.
Trump took a relaxed approach by saying that he would not object to letting the deadline date be postponed, although he "would prefer not to."
Adding that he sees Beijing is very keen in making a deal and that he is confident his team is trying to reach a solution; however he is still holding on to his statement of not meeting his Chinese counterpart Xi.
When asked the question Trump replied, "Not at this point."
The March 2 deadline is crucial in the negotiations as U.S. tariffs on Chinese goods will increase if a deal is not struck before then.
Treasury Secretary Steven Mnuchin along with U.S. Trade Representative Robert Lighthizer headed to Beijing this week for another round of talks with Vice Premier Liu He.
The trade talks still seemed far apart as the two sides have not even drafted an accord specifying the matters they agree and disagree on.
According to White House economic advisor Larry Kudlow there is a "pretty sizable distance to go" before China and the U.S. reach a deal.
However, Kudlow did point that Trump is "optimistic with respect to a potential trade deal," which echo the words of Mnuchin when last week he state that current talks had been “very productive”.
Needless to say, according to the Treasury Secretary, there remains a "wide range of issues" which need to be addressed.
Source: Smart Trend Team