Xi summit to seal trade deal will not happen in March

U.S. Treasury Secretary Steven Mnuchin testifies at U.S. House Ways and Means Committee hearing on President Donald Trump's proposed budget in Washington U.S

At the same time, talks with the Chinese on a bilateral trade deal has been going on quite well, Trump said, amid reports that Chinese President Xi Jinping has postponed his trip to the USA president's Mar-a-Lago resort in Florida later this month.

The White House communications staff didn't immediately respond to a request for comment.

Despite claims of progress in talks by both sides, a hoped-for summit at Trump's Mar-a-Lago resort will now take place at the end of April if it happens at all, according to one of the people.

The S&P 500 slipped on Thursday, snapping a three-day streak of gains, as uncertainty over when a trade deal between the United States and China would be reached left investors on edge.

Treasury Secretary Steven Mnuchin said he and U.S. Trade Representative Robert Lighthizer had a phone call with a top Chinese official Wednesday night.

The Trump administration is discussing a thick tome of ideas with Chinese officials as the two sides seek a trade deal, with Washington expecting some elements to be resolved soon, a top administration official said, Trend reports referring to Reuters.

"I do not think that any type of agreement with China on trade and investment is sustainable, because it is a zero sum game". We'll see. We have a very good relationship.


At another White House event later on Thursday, Trump said: "Probably one way or the other we're going to know over the next three or four weeks".

Any deal that eliminates tariffs and retaliations will be a good thing, even if it otherwise accomplishes nothing.

Trump himself has dialed down the urgency of getting a deal signed as early as this month.

He is also open to complete the trade agreement before or after the summit. "We can have the deal completed and come and sign or we can get the deal nearly completed and negotiate some of the final points. I would prefer that, but it doesn't matter that much", he said. China would like to make a deal and we'd like to make a deal. He added that China had been "very responsible and very reasonable".

The agreement also "needs to be right - that's more important than the exact timing", Mnuchin said.

As to the reason why China and the USA are postponing the signing of the agreement that will put an end to the trade war, Trump's trade representative Robert Lighthizer said that there are still some major issues to resolve including the intellectual property dealing.

Related News:



Most liked

At least 49 killed after gunmen open fire
British police were providing "reassurance patrols" around mosques following the deadly gun rampage in New Zealand on Friday. There was a second shooting at a mosque in the neighborhood of Linwood that resulted in the deaths of at least seven people.

Trump raps May over Brexit negotiations
Varadkar said Ireland isn't the only place where this is possible, but "every country where freedom and liberty are cherished". While speaking to the press, Trump mentioned his property in Doonbeg, Clare and said that he plans on visiting Ireland.

Imam of attacked New Zealand mosque says 'we still love this country'
A number of onlookers told similar accounts of a young man creeping up behind the shooter and "hold him until his gun dropped". At least two Jordanian citizens were killed and five others wounded in the shootings, the country's Foreign Ministry said.

Mafia boss slain outside NY home in grisly hit
His murder is the first of a NY mob boss since Paul Castellano was famously assassinated at Sparks Steakhouse in 1985. Aggressive federal prosecutions in the past 25 years have decimated the ranks of New York's five Mafia families.

Over a 1000 flights cancelled due to ‘Bomb Cyclone’ in US
She had tried to make the trip Wednesday but the interstate was shut down due to a pileup - one she thinks she narrowly avoided. Parts of seven states were under blizzard warnings, and 20 states were under some level of high wind alert, Carbin said.

Bangladesh cricketers escape New Zealand mosque shooting
Six members of the team were wounded, while six security personnel and two civilians were killed. "This is shocking. Player Tamim Iqbal tweeted that it was a " frightening experience" and that there were " active shooters ".

Beto O’Rourke announces bid for president
O'Rourke has three days of campaign events in Iowa planned and has promised to travel the country listening to would-be voters. Klobuchar was not the only 2020 candidate to welcome O'Rourke on Thursday.

Southgate: Rice critics haven't walked in his shoes
After his heroics for England in the summer, this has been a very hard season for Everton goalkeeper Jordan Pickford. We have a few in our squad, but in the end, mentality often dictates how far players can go.

Bloody Sunday: SDLP leader says families conducted themselves with 'astonishing dignity'
In total, police reported 20 suspects to the PPS - 18 of them former soldiers, one of whom died a year ago . On that day, 13 people were shot and killed as they fled police or tried to help those who were wounded.

These 'Game of Thrones' Season 8 episodes will be movies
HBO has released the confirmed runtime of each episode of the final season of the fantasy drama, Game of Thrones . Resourceful fans have been sussing out the official episode lengths for months now.

New Zealand mosque suspect lauded racist, violent extremism
New Zealand has in the past tried to tighten firearm laws, but a strong gun lobby and culture of hunting has stymied such efforts. There will likely be additional charges , reported CBC News, but the police have yet to release details of what they may be.

Thiem into Indian Wells semis as Monfils withdraws
Williams fought off two break points to tie the second set 2-all before Kerber again won three games in a row for a 5-2 lead. Until Kerber stopped her, Williams had won four matches in a row for the first time since a year ago in the desert.

Ancelotti's Napoli faces Arsenal in Europa League
The remaining tie pits Benfica against Eintracht Frankfurt , with the victor facing Chelsea or Slavia Prague in the semi-finals. That's all for today! "I am doing everything to make it happen and my team-mates are the same".

United Kingdom cuts growth forecast
Mr Hammond said rejecting an immediate no-deal Brexit and extending Article 50 could help find a "deal we can collectively support".

Indian Wells: Nadal, Federer Cruise into Quarterfinals
It's small gaps", Nadal said about the upsets. "It's true that for the last 10 years didn't happen very often". Federer's simple victory over Edmund was not to be taken lightly, even if it only took 63 minutes.