White House economic adviser Larry Kudlow said Wednesday that US trade talks with China are continuing to progress as negotiations between the world's two biggest economies resume in Washington this week. "Trump remains optimistic about a deal but less confident about the timing", said Craig Erlam, analyst at Oanda.
American officials are still debating whether to use tariffs as an enforcement tool. S President Donald Trump speaks in the Oval Office at the White House on August 27, 2018 in Washington, DC on trade saying a "big deal looking good with Mexico".
Trump is demanding China to reduce the Dollars 375 billion trade deficit and protection of Intellectual Property Rights (IPR), technology transfer and more access to American goods to Chinese markets. "But there's a very good chance that we'll have the summit", Trump said.
Having a healthy and fair long-term trade regime in place is in the best interests of China and the USA, and both sides are reportedly angling to have a high-profile signing ceremony with President Trump and President Xi Jinping this month.
A spokesman for China's Ministry of Commerce declined to answer questions on the target date at a press conference in Beijing Thursday or provide an update on the talks. Discussions on this area of the agreement could potentially push a resolution from April into May or June, according to Lighthizer.
Such a leadership should, as always, be the loadstar guiding bilateral negotiations to overcome all remaining conundrums so as to promote a healthy and stable development of bilateral economic and trade ties.
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The nine-month trade war has disrupted supply chains, whipsawed markets and weighed on the world economy.
Initial reports on Thursday in The Wall Street Journal and The New York Times were that Mr Trump would announce a summit with Mr Xi.
"The (Trump) administration has been equally clear that they want to keep some of the tariffs in place as a way to have leverage over China fulfilling its obligations under whatever final package is reached".
"China has been very clear, publicly and privately, that they would like to see all the tariffs removed", U.S. Chamber of Commerce worldwide affairs chief Myron Brilliant told reporters on Tuesday.
Trump declined to say what would happen to USA tariffs on $250 billion worth of goods as part of a deal.
Liu, who is in Washington to continue the trade negotiations, met President Trump on Thursday and conveyed Xi's message. "If they don't do it, we're going to tax the cars", the president said.