Published: Sun, February 10, 2019
Global News | By Blake Casey

No Xi summit before tariff date

No Xi summit before tariff date

The apparent reason U.S. President Trump can not sabotage a trade deal with China - by not meeting before March with counterpart Xi Jinping - is that there is no deal yet to destroy, according to media reports. While being asked whether there would be a meeting in a near-term outlook (in the next month or so), Trump appeared to be baffling when responding, "Not yet".

On January 31, US President said the trade talks were going well and added that a final deal would not be made until his meeting with Chinese leader Xi Jinping, slated for the "near future".

However, Trump's recent comment had substantially aired negativity and dampened the hope of reform of quick trade pack, meanwhile impacting the global stocks dreadfully and fueling a steep slip in global stock markets including the U.S. & emerging market shares.

Stocks in the U.S. fell sharply on Thursday after reports that Trump and Xi would not meet. But the US president said the two would "maybe" meet later.

Trump has been saying. With a possible deal anticipated in the near future, it is expected that the economic slowdown in China and the jitters in the U.S. stock markets will be expected to settle down.

The American Soybean Association says trade talks are good, soybean purchases are good, but lifting the tariff that China slapped on US soybean imports would be better.

Asked if a meeting could happen by March 1, he said: "No".

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The President is headed to Asia to meet North Korean leader Kim Jong Un in Vietnam on Feb 27 and 28.

US Treasury Secretary Stephen Mnuchin and trade representative Robert Lighthizer will lead a delegation to Beijing next week for the next round of trade talks.

In a meeting at the White House Wednesday, Trump's trade team discussed the next steps for the trade talks, according to a person briefed on the matter.

President Donald Trump and Chinese President Xi Jinping now aren't expected to meet later this month. If a deal is not struck before then, US tariffs on Chinese goods will increase, barring some sort of extension.

The negative mood sweeping across financial markets late in the trading week continues to highlight how investor sentiment remains extremely sensitive to any changes in the narrative with US-China trade developments.

Last week, Trump and Chinese officials had expressed optimism during the second round of talks in Washington about chances of striking a bargain but they released few details about progress in their talks.

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