JAKARTA (TheInsiderStories) – United States (US) President Donald Trump will meet Chinese vice premier Liu He today. As known, treasury secretary Steven Mnuchin and trade representative Robert Lighthizer seated one table again with Liu starting Thursday to negotiate the trade deal between the two nations.
“So, we just completed a negotiation with China. We’re doing very well. We’re having another one tomorrow. I’m meeting with the Vice Premier over at the White House. And I think its going really well, I will say. I think it’s going really well,” Trump told reporters as quoted by the White House yesterday (10/10).
He adds, “So, we had a very, very good negotiation with China. They’ll be speaking a little bit later, but they’re basically wrapping it up, and we’re going to see them tomorrow, right here. And it’s going very well.”
It said, the two met to avoid an escalation of tit-for-tat tariffs that have roiled financial markets and stoked fears of a global recession. The top US and Chinese negotiators met the first time since late July to try to find a way out of a 15-month trade war between the world’ two largest economies threatened hopes for progress.
The official said, Beijing still open to reaching a partial trade deal with the Washington. He adds, China would accept a limited deal, as long as no more tariffs are imposed by President Donald Trump, including duties set to take effect this month and in December.
US considering a currency agreement with China as a part of a partial trade deal. As known, starting today, the officials from the both countries meet this week to complete the trade deal.
As reported by Bloomberg, White House is looking at rolling out a previously agreed currency pact with China as part of an early partial deal that could also see a tariff increase next week suspended, according to people familiar with the discussions.
The currency accord, which the US said had been agreed to earlier this year before trade talks broke down, would be part of what the Washington considers to be a first-phase agreement with Beijing. It would be followed by more negotiations on core issues like intellectual property and forced technology transfers, said the report.
While, Chinese delegation refuses to talk about forced technology transfers. SMCP sources have come with a piece that has sent the Yen on a hike across the board, advancing some 30 pips versus the Greenback.
US and China make no progress on key trade issues in two days of deputy-level talks, said the news portal. The Chinese delegation refuses to talk about forced technology transfers, a core US grievance in the negotiations. And, high-level talks are expected to last for only one day, with Liu He and his team now planning to leave Washington on Thursday.
Also, the Financial Times indicated that China had offered to increase by 50 percent purchases of agricultural products from US farmers. US stocks were elevated on the reports, that had suggested China was open to a limited tariff resolution with the US.
by Linda Silaen, Email: email@example.com