If the US and China could reach a trade deal, President Donald Trump might consider postponing the March 1st deadline for tariffs, he said on the 12th of February. At the moment, the US has a team in China trying to reach a trade agreement, while Beijing also hopes for a resolution.
As reported by CNBC, President Trump won’t meet Chinese President Xi Jinping at the end of March, at least “not at this point.”
If a deal isn’t reached before the 1st of March, the US tariffs on Chinese goods will increase, which will affect many Chinese businesses.
At a cabinet meeting at the White House on Tuesday, he said he could see himself “letting that slide for a little while”, referring to the looming deadline, at which point US tariffs on US$200 billion of Chinese imports are scheduled to increase from 10 to 25 per cent. “But generally speaking, I’m not inclined to do that,” he added, South China Morning Post reported.
At the moment, Treasury Secretary Steven Mnuchin, along with US Trade Representative Robert Lighthizer, are in Beijing, for another round of talks with Vice Premier Liu He. The two countries haven’t yet drafted an accord containing the matters they agree and disagree on.
Mnuchin said the talks have been “very productive,” although he noted that a “wide range of issues” remains to be worked out, according to CNBC.