Published: Thu, November 21, 2019

US Is Still Talking To China On Trade, Says Donald Trump

US Is Still Talking To China On Trade, Says Donald Trump

Now five weeks later, the deal looks elusive, and negotiations are stuck, per Reuters report that quoted insider sources.

"If talks are going well, that hike will be suspended", said Christian Whiton, a senior fellow at the Center for the National Interest, and a former Trump administration adviser.

The Baird strategist said the market has drifted higher on the strength of the consumer even as economic data have betrayed signs of weakness in manufacturing, threatening the USA economic expansion in its 11th year.

China wants a trade deal with the USA, according to President Trump, who was coy Wednesday about whether he wants an agreement.

On Tuesday, Trump also threatened to raise tariffs if no deal is reached with Beijing.

Chinese leaders insist that the White House rolls back previous tariffs on tens of billions of dollars in goods in what could become a major stumbling block.

President Trump discusses Apple's new factory in Austin, Texas, how well the economy is doing and trade negotiations with China as he prepares to meet with Apple CEO Tim Cook.

I've been able to talk to four people close to the talks who suggest the deal is in trouble because there is not an agreement between the United States and China - even at the stage - on which tariffs would go and which tariffs would stay.

Doubts about a so-called "skinny" deal between the USA and China are resurfacing on Wall Street a month after a seeming breakthrough in trade talks helped drive the stock market to fresh all-time highs.

Failure to clinch an interim deal can trigger another round of tit-for-tat tariffs.

The US Senate passed a bill on Tuesday night condemning the crackdown and pledging support for Hong Kong, which was immediately criticised by Beijing. This has annoyed China and it may retaliate.

"They're very close, but getting that last two to three percent is proving tough", said one person who has been briefed by negotiators for both sides, but was not authorized to speak to reporters. The two countries returned to the negotiating table in the fall after the 19-month standoff caused the US and Chinese economies to slide.

Some China and trade experts briefed on the talks told Reuters they were still optimistic a deal might come together in the coming weeks, and Trump said yesterday his team continues to talk with China.

Last month, President Trump had boasted that China would buy farm products and pork worth $50-60 billion from the USA producers, claiming that it would be a bonanza to the American farmers.

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