Talks Continue with China,
Trump May Delay Tariff Hikes

Talks continue this week between the United States and China. Officials have been tight-lipped on the progress of negotiations other than to call last week’s talks “very productive” and acknowledge the nature of the pact is “very complicated.”

As conversations continue, however, President Donald Trump has indicated a willingness to extend a March 1 deadline in which the U.S. was scheduled to increase tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent if no deal was reached.

Both the U.S. and China reported progress in five days of negotiations in Beijing last week but the White House said much work remains to be done to force changes in Chinese trade behavior.

Trump was briefed in person over the weekend by U.S. Trade Representative Robert Lighthizer, Commerce Secretary Wilbur Ross, White House Chief of Staff Mick Mulvaney and trade expert Peter Navarro.

Treasury Secretary Steven Mnuchin, economic adviser Larry Kudlow and other aides joined by phone.

China’s vice premier and chief trade negotiator, Liu He, and Lighthizer are to lead the next round of talks this week in Washington.

Source: Reuters