Saturday, 16 February, 2019

Trump Says Could Extend March 1 China Trade Talks Deadline

Dovish Central Bank Outlooks Make U.S. Dollar More Desirable Asset China Slams U.S. for Undermining 'Peace' and 'Security,' Calls for End to 'Provocative Actions' in South China Sea
Deanna Wagner | 13 February, 2019, 04:12

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will lead the US delegation for the third round of talks on Thursday and Friday in Beijing.

Insisting that China "wants to make a deal very badly", Mr Trump said America has "never been in this position before" in negotiations with Beijing on trade.

China and the United States have been engaged in a trade war since US President Donald Trump announced last June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit.

USA president Donald Trump said last week he did not plan to meet with Xi before the March 1 deadline, dampening hopes that a trade pact could be reached quickly.

White House senior counselor Kellyanne Conway on Monday also expressed confidence in a possible deal.

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She said Trump knows his trade policies and tariffs are working as the March 1 deadline for a new trade deal between Washington and Beijing approaches. Trump had said final resolution of the trade dispute would depend on the meeting with Xi "in the near future" but told reporters it had not yet been arranged. But the two sides are only just starting the work of drafting a common document and are still tussling over how a deal may be enforced, which US officials have repeatedly called a crucial element.

"China has always respected and safeguarded freedom of navigation and flight based on global laws in the South China Sea, but resolutely opposes any country falsely using these harm the sovereignty and security of coastal countries", Hua said Monday. The situation could get worse as a truce on tariffs is set to expire in early March. "They will meet again soon". While those purchases will provide relief to US farmers, there has been no breakthrough on the structural issues separating the two nations, such as industrial policy, government subsidies, protection of intellectual property or forced transfers of technology. China would likely respond by raising tariffs on $60 billion worth of U.S goods that it announced a year ago in retaliation. "And, absolutely, you know, we've put everything on the table, including IP theft and forced technology transfer and so on".

It was the second such United States operation in the South China Sea this year.

U.S. Indo-Pacific Command didn't respond to an email seeking comment on the patrol.