Trump: China trade talks ‘productive’
President Donald Trump said that trade talks over the weekend with China had been “very productive,” as negotiators worked ahead of a March 1 deadline for the imposition of further US tariffs on Chinese imports.
President Trump said on Twitter that discussions would continue.
Officials are trying to come to terms on an array of complex issues governing the relationship between the world’s two largest economies, including China’s currency policies and the enforcement of intellectual property rights.
President Trump said last week there was a “good chance” a deal would emerge, and that he might extend the March 1 deadline and move forward with a meeting with Chinese president Xi Jinping.
The US is set to increase tariffs on $200bn (€176bn) of Chinese imports to 25% from 10% unless President Trump decides to delay it.
The imposition of tariffs by both countries and the threat of more severe action has been a major source of global economic tension in recent months.
The situation has contributed to recent large swings in stock markets and is considered by some to be a key reason why business investment has slowed of late.
Meanwhile, the president and his top trade negotiator, Robert Lighthizer, have grown increasingly frustrated with each other.
The exasperation between the two erupted into the open during an unusual public exchange in front of China’s top negotiator, assembled US officials and journalists last week, during which Presdient Trump took issue with Mr Lighthizer’s explanation that any deal would take the form of a memorandum of understanding.
“I don’t like MOUs because they don’t mean anything,’’ the president said, before shooting down Mr Lighthizer when the career lawyer described such documents as legally binding.
After that exchange, said sources, the president complained that Mr Lighthizer had embarrassed him by publicly correcting him in front of the Chinese delegation and the press.
The president also expressed frustration that Mr Lighthizer hadn’t yet stitched up a deal he views as increasingly important.
