Published: Sat, December 07, 2019
Markets | By Otis Pena

After Trump, China says `no time limit` on trade deal with US

After Trump, China says `no time limit` on trade deal with US

Trump has readied an additional 15 percent tariff on about $156 billion of Chinese goods set for December 15, but there is little sign that the "phase one" deal announced in October will take place beforehand. But right now we're moving along.

November's blockbuster jobs report, with 266,000 jobs added and unemployment ticking down to 3.5%, may be just what President Trump needs to drive a hard bargain with China ahead of the December 15 tariff deadline. "Something could happen, but we are not discussing that yet". Outstanding issues in the talks include how to guarantee China's purchases of USA agricultural goods and exactly which tariffs to roll back, they added.

"There's no arbitrary deadline here", he said, adding that the ultimate decision was Trump's alone.

"The deal is close".

"The reality is constructive talks, nearly daily talks, we are, in fact, close", Kudlow said. "We are in fact close".

Asked if he had a deadline to finalize an agreement, he said "I have no deadline, no".

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After touring an Apple facility in Texas on November 20, here was Trump: "We're doing very nicely with China".

His team, though, has signaled a "phase one" trade deal is nearing completion. -China trade deal before next year's elections - and then shrugged off the tailspin that his remarks caused in the stock market.

"I don't think this report is everything", McDonald said. The Trump administration is already taxing more than $360 billion worth of Chinese imports. That is bureaucratic-speak that means mid-level officials are working on smaller issues, leaving more complicated and hot-button matters, as they have since the talks began in 2017, to senior officials - including Trump and Chinese President Xi Jinping. "I watch jobs. Jobs are what I watch; I watch making the proper deal", he said. "There are so much at stake here when you go through the various categories". But they want to make a deal now and we'll see whether not the deal is going to be right.

On Thursday, Treasury Secretary Steven Mnuchin told reporters despite "a lot of misreporting", the trade talks were continuing, adding negotiators spoke by phone Wednesday.

The world's two economic superpowers have placed tariffs on hundreds of billions of dollars of one another's goods amid the more than 21-month long trade dispute, which started with the US announcing steel and aluminum levies in March 2018. The latest impasse on the technology transfer and other issues could push the talks into 2020, an USA election year. The White House has yet to say whether Trump would sign or veto the bill, which contains a provision allowing the president to waive sanctions if he determines that to be in the national interest. "We will walk away", Kudlow insisted.

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