Trump administration officials have not made any new plans to send a team to China for face-to-face trade talks, but negotiators have made progress, White House trade adviser Clete Willems said at an event on Friday… “We’re talking to them (Chinese officials) every day, but no one’s got any trip plans,” Willems told reporters on the sidelines of a Georgetown Law School trade event in Washington. When asked about the prospect for future face-to-face meetings, Willems said “Maybe. But there are no plans right now.”
U.S. President Donald Trump and Chinese President Xi Jinping could seal a formal trade deal at a summit around March 27 given progress in talks between the two countries, the Wall Street Journal reported on Sunday.
The world’s two largest economies began their latest round of trade talks this week to resolve a bitter dispute in which each has levied tariffs on imports from the other.
The talks are aimed at “achieving needed structural changes in China that affect trade between the United States and China. The two sides will also discuss China’s pledge to purchase a substantial amount of goods and services from the United States,” the White House said in a statement.
Farmers are waiting for more clarity on trade deals before buying equipment. The company said Friday that initial orders of tractors, combine harvesters and other equipment were weak, contributing to the lower-than-expected quarterly profits.
Beijing so far has remained reluctant to give ground on issues it sees as crucial to maintaining the Communist Party’s rule. Those include eliminating government subsidies to state-owned companies and other policies that underpin its state-led economic model. Washington sees such steps as essential to level the playing field for American businesses operating in the world’s second-largest economy.
A White House official said on Friday that preparations were under way and the talks would continue to focus on pressing Beijing to make structural reforms.
Trump said on Sunday that trade talks with China were going very well and that weakness in the Chinese economy gave Beijing a reason to work toward a deal
U.S. and Chinese officials are set to begin trade negotiations on Monday. Here are seven issues that will be key to making headway
Total U.S. agricultural export shipments to China for the first 10 months of 2018 fell by 42 percent from a year earlier to about $8.3 billion, according to the U.S. Department of Agriculture.
The United States and China have been imposing tariffs on each others goods in an escalating dispute over market access, forced technology transfer, intellectual property rights and state subsidies to certain sectors that distort competition. The European Union, Canada and Japan are also involved because of U.S. tariffs on steel and aluminum products imposed by Washington earlier this year.