• Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • PODCAST
    • Apa Kabar Indonesia
    • Atlanta Burmese Voice
    • SungKhom Lao
    • Tam Su Voi
    • Usapang Pinoy
    • GAT Insight
    • Georgia Korean Podcast
ABOUT
Advertise in GAT
Contact us
Saturday, January 28, 2023
Georgia Asian Times
International Insurance of Georgia
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • PODCAST
    • Apa Kabar Indonesia
    • Atlanta Burmese Voice
    • SungKhom Lao
    • Tam Su Voi
    • Usapang Pinoy
    • GAT Insight
    • Georgia Korean Podcast
  • Login
No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • PODCAST
    • Apa Kabar Indonesia
    • Atlanta Burmese Voice
    • SungKhom Lao
    • Tam Su Voi
    • Usapang Pinoy
    • GAT Insight
    • Georgia Korean Podcast
No Result
View All Result
Georgia Asian Times
No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • PODCAST
Home Business

No talks between Trump and China’s Xi before trade deadline

Georgia Asian Times by Georgia Asian Times
February 8, 2019
in Business, Headline
Share on FacebookShare on Twitter

Washington DC, February 8, 2019 — U.S. President Donald Trump said on Thursday he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline set by the two countries to achieve a trade deal.

Asked during an event in the Oval Office whether there would be a meeting before the deadline, Trump said: “No.”

When asked whether there would be a meeting in the next month or so, Trump said: “Not yet. Maybe. Probably too soon. Probably too soon.”

The remarks confirmed comments from administration officials who said the two men were unlikely to meet before the deadline, dampening hopes of a quick trade pact and sparking a drop in U.S stock markets.

AD: High Museum of Atlanta

Late last year during a dinner between Trump and Xi in Argentina, the two men agreed to take a 90-day hiatus in their trade war to give their teams time to negotiate an agreement.

If the talks do not succeed, Trump has threatened to increase U.S. tariffs on Chinese imports. Another round of talks is scheduled for next week in Beijing.

Trump, who is proud of having a warm relationship with Xi, said last week he would meet with him again to hammer out a final deal, after Chinese Vice Premier Liu He presented Xi’s invitation at the White House.

A person briefed on the talks said that Trump’s advisers were concerned that accepting a meeting invitation at this stage would raise unfounded expectations for a quick deal and erode U.S. leverage in the talks, where the two sides remain far apart on core structural intellectual property issues.

“There was concern about the downside for markets in particular if they don’t reach a deal,” the source said.

The president is scheduled to travel to Asia at the end of this month for a summit with North Korean leader Kim Jong Un in Vietnam, and some had speculated that he could meet with Xi on the same trip. Trump had indicated that was one option, or Xi could come to the United States.

White House economic adviser Larry Kudlow told reporters that the leaders of the two economic superpowers could still meet at a later date.

“At some point the two presidents will meet, that is what Mr. Trump has been saying. But that is off in the distance still at the moment,” he said.

The news prompted a sharp selloff in U.S. stocks, dashing the optimism that had been building that the countries were progressing toward a deal before tariffs on Chinese imports rise to 25 percent after the March 1 deadline.

The S&P 500 Index closed down 0.93 percent in its biggest drop in two weeks. Treasury bond yields dropped as investors sought safety in sovereign U.S. debt. The benchmark 10-year yield slid 4 basis points to 2.66 percent, the lowest in nearly a week.

“I could see where that would impact the markets because obviously we had a lift in the month of January from optimism surrounding these trade talks,” said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.

U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin are leaving on Monday for the next round of talks in China, one administration official said. “They’re hoping for more success,” he said.

The United States is pressing China to make major reforms, including on structural issues related to how it treats U.S. companies doing business there. Washington accuses China of stealing U.S. intellectual property and forcing American businesses to share their technology with Chinese companies. China denies the accusations.

Trump said in his State of the Union address on Tuesday that any new trade deal with Beijing “must include real, structural change to end unfair trade practices.”

Such reforms have been a sticking point in talks so far.

Lighthizer told reporters last week that the two leaders may not meet if the negotiations do not progress sufficiently.

“If we do make headway, and the president thinks we’re close enough that he can close the deal on major issues, then I think he’ll want to have a meeting and do that,” he told reporters. “I have complete confidence in the president, both to close a deal if we get to that point, but also to make that judgment.”

Trump has vowed to increase U.S. tariffs on $200 billion worth of Chinese imports to 25 percent from 10 percent currently if the two sides cannot reach a deal by 12:01 a.m. (0501 GMT) on March 2.

CNBC reported that the tariffs were likely to remain at the 10 percent rate. Three sources familiar with the matter indicated that report was wrong. The president has said repeatedly that the tariffs would go up if no deal has been reached, and that position has not changed, one source said.

Lighthizer said last week that tariffs had not been a subject of the talks. – Reuters

Previous Post

Democrats launch 10-year ‘Green New Deal’ for clean energy

Next Post

U.N. urges Japan to let children be children

Georgia Asian Times

Georgia Asian Times

Related Posts

Business

US inflation and consumer spending cooled in December

January 27, 2023
Soaring egg prices prompt demands for price-gouging probe
Business

Soaring egg prices prompt demands for price-gouging probe

January 25, 2023
Business

Amazon launches a subscription prescription drug service

January 25, 2023
Google axes 12,000 jobs, layoffs spread across tech sector
Business

Google axes 12,000 jobs, layoffs spread across tech sector

January 20, 2023
Job cuts in tech sector spread, Microsoft lays off 10,000
Business

Job cuts in tech sector spread, Microsoft lays off 10,000

January 19, 2023
Kemp: Georgia budget spending meant to keep economy growing
Business

Kemp: Georgia budget spending meant to keep economy growing

January 18, 2023
Next Post

U.N. urges Japan to let children be children

Signup Free E-Newsletter

Upcoming Events

Jan 28
1:00 pm - 5:00 pm

Decatur Lunar New Year Festival

Jan 28
3:30 pm - 4:30 pm

Chinese New Year Celebration-Chamblee

Feb 18
6:00 pm - 11:00 pm

Spring Festival 2023

View Calendar
Logo

 

CONTACT US

Follow Us

MOST INFLUENTIAL

GAT 25 Most Influential Asian Americans Gala celebrates Asian voice

GAT 25 Most Influential Asian Americans Gala celebrates Asian voice

July 18, 2022

Video highlights of GAT 25 Most Influential Asian Americans in Georgia

July 17, 2022

2022 GAT 25 Most Influential Asian Americans in Georgia-Awards Gala

July 17, 2022

LINKS OF INTEREST

ATL Asian Film Festival

GAT on Facebook

Lunar New Year of Rabbit - GAT Special Section
  • Contact Us
  • Advertise in GAT
  • ABOUT

© 2023 Georgia Asian Times - Empowered by 8SOL. Managed by Arckopolis.

No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • PODCAST
    • Apa Kabar Indonesia
    • Atlanta Burmese Voice
    • SungKhom Lao
    • Tam Su Voi
    • Usapang Pinoy
    • GAT Insight
    • Georgia Korean Podcast

© 2023 Georgia Asian Times - Empowered by 8SOL. Managed by Arckopolis.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Subscribe

Subscribe to our newsletter for the latest
articles straight to your inbox!

    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?