US Treasury yields lower ahead of fresh data

There is a strong focus on trade as China and the U.S. continue talks. According to the South China Morning Post, Chinese President Xi Jinping will meet with U.S. delegates on Friday, including Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer. In politics, the White House said Thursday that President Trump is signing legislation that prevents a government shutdown, but will also declare a national emergency to try to build a wall on the border with Mexico. Trump


There is a strong focus on trade as China and the U.S. continue talks. According to the South China Morning Post, Chinese President Xi Jinping will meet with U.S. delegates on Friday, including Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer. In politics, the White House said Thursday that President Trump is signing legislation that prevents a government shutdown, but will also declare a national emergency to try to build a wall on the border with Mexico. Trump
US Treasury yields lower ahead of fresh data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: silvia amaro
Keywords: news, cnbc, companies, fresh, etthere, house, wall, trump, president, china, data, xi, trade, ahead, yields, treasury, white, lower


US Treasury yields lower ahead of fresh data

There is a strong focus on trade as China and the U.S. continue talks. According to the South China Morning Post, Chinese President Xi Jinping will meet with U.S. delegates on Friday, including Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer.

In politics, the White House said Thursday that President Trump is signing legislation that prevents a government shutdown, but will also declare a national emergency to try to build a wall on the border with Mexico. Trump is due to speak in the White House Rose Garden at 10 a.m. ET.

Furthermore, bond traders are likely to follow a speech by Atlanta Fed President Raphael Bostic at 9.55 a.m. ET.

There is also a raft of data due. There will be industrial production numbers out at 9.15 a.m. ET and consumer sentiment out at 10 a.m. ET.

There are no Treasury auctions planned.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: silvia amaro
Keywords: news, cnbc, companies, fresh, etthere, house, wall, trump, president, china, data, xi, trade, ahead, yields, treasury, white, lower


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China and US will continue high-stakes trade talks in Washington next week

Talks between China and the United States this week made important progress, President Xi Jinping told top U.S. trade negotiators on Friday, adding that efforts would continue in Washington next week to resolve their bruising trade war. The White House later confirmed the next round of talks, while saying this week’s negotiations in China “led to progress between the two parties.” But there was a cautionary note from the White House, as well: “Much work remains, however.” “The consultations betw


Talks between China and the United States this week made important progress, President Xi Jinping told top U.S. trade negotiators on Friday, adding that efforts would continue in Washington next week to resolve their bruising trade war. The White House later confirmed the next round of talks, while saying this week’s negotiations in China “led to progress between the two parties.” But there was a cautionary note from the White House, as well: “Much work remains, however.” “The consultations betw
China and US will continue high-stakes trade talks in Washington next week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: patrik stollarz, afp, getty images
Keywords: news, cnbc, companies, progress, continue, important, house, china, talks, told, white, washington, highstakes, week, xi, trade


China and US will continue high-stakes trade talks in Washington next week

Talks between China and the United States this week made important progress, President Xi Jinping told top U.S. trade negotiators on Friday, adding that efforts would continue in Washington next week to resolve their bruising trade war.

The White House later confirmed the next round of talks, while saying this week’s negotiations in China “led to progress between the two parties.”

But there was a cautionary note from the White House, as well: “Much work remains, however.”

Xi met U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin after a full week of trade negotiations at senior and deputy levels in Beijing, and called for a deal both sides could accept, state media said.

U.S. duties on $200 billion worth of imports from China are set to rise to 25 percent from 10 percent if no deal is reached by March 1 to address U.S. demands that China curb forced technology transfers and better enforce intellectual property rights.

After the conclusion of talks, which included a banquet on Thursday, Mnuchin said on Twitter that he and Lighthizer had held “productive meetings” with Xi’s top economic adviser, Vice Premier Liu He.

“The consultations between the two sides’ teams achieved important step-by-step progress,” Xi said, according to state television.

“Next week, both sides will meet again in Washington. I hope you will continue efforts to advance reaching a mutually beneficial, win-win agreement,” Xi said during a meeting at Beijing’s Great Hall of the People.

He added that China was willing to take a “cooperative approach” to settling bilateral trade frictions.

Lighthizer told Xi the senior officials had “two very good days” of talks.

“We feel that we have made headway on very, very important, and very difficult issues. We have additional work to do but we are hopeful,” Lighthizer said, according to a foreign media pool video.

Neither country has yet offered new details on how the world’s two largest economies might de-escalate the tariff war that has roiled financial markets and disrupted manufacturing supply chains.

Although U.S. President Donald Trump said this week that an extension of the tariff deadline was possible if a “real deal” was close, Larry Kudlow, director of the National Economic Council, has said the White House had made no such decision.

But several sources informed about the meetings told Reuters there was little indication negotiators had made major progress on sticking points to pave the way for a potential meeting between Xi and Trump in coming weeks to hammer out a deal.

“Stalemate on the important stuff,” said one of the sources, all of whom requested anonymity because the talks are confidential.

“There’s still a lot of distance between parties on structural and enforcement issues,” said a second source. “I wouldn’t quite call it hitting a wall, but it’s not a field of dreams either.”

A third source told Reuters the White House was “irate” over earlier reports that the Trump administration was considering a 60-day extension of the tariff deadline.

Lighthizer and Mnuchin left their Beijing hotel on Friday afternoon without taking questions from reporters.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: patrik stollarz, afp, getty images
Keywords: news, cnbc, companies, progress, continue, important, house, china, talks, told, white, washington, highstakes, week, xi, trade


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Xi will reportedly meet with Mnuchin, Lighthizer as US and China try to strike a trade deal

Chinese President Xi Jinping will meet with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer on Friday as both sides pursue a trade deal before an early March deadline, the South China Morning Post reported. The report, which cites sources close to the matter, said Xi “is scheduled to meet” with key members of the U.S. trade delegation that’s in Beijing, including Lighthizer and Mnuchin. China and the U.S. are trying to strike a deal before March 2. The trade tus


Chinese President Xi Jinping will meet with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer on Friday as both sides pursue a trade deal before an early March deadline, the South China Morning Post reported. The report, which cites sources close to the matter, said Xi “is scheduled to meet” with key members of the U.S. trade delegation that’s in Beijing, including Lighthizer and Mnuchin. China and the U.S. are trying to strike a deal before March 2. The trade tus
Xi will reportedly meet with Mnuchin, Lighthizer as US and China try to strike a trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: fred imbert, mauricio valenzuela, picture alliance, getty images
Keywords: news, cnbc, companies, xi, trade, reportedly, morning, strike, lighthizer, treasury, deal, tariffs, meet, mnuchin, china, chinese, report, president, try


Xi will reportedly meet with Mnuchin, Lighthizer as US and China try to strike a trade deal

Chinese President Xi Jinping will meet with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer on Friday as both sides pursue a trade deal before an early March deadline, the South China Morning Post reported.

The report, which cites sources close to the matter, said Xi “is scheduled to meet” with key members of the U.S. trade delegation that’s in Beijing, including Lighthizer and Mnuchin. Chinese Vice Premier Liu He is also expected to attend a banquet for the U.S. delegation this week, according to the Morning Post.

China and the U.S. are trying to strike a deal before March 2. Otherwise, additional U.S. tariffs on Chinese goods could take effect.

The report comes a day after President Donald Trump said he would consider pushing back the current March deadline if it means a deal between the two countries can be reached soon. He added, however, he “would prefer not to.”

The trade tussle between China and the U.S. has sent ripples through financial markets over the past year. Investors have fretted over the impact of tariffs on corporate profits.

Neither the Treasury Department nor the U.S. Trade Representative’s office responded to CNBC’s request for comment.

Click here to read the full story.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: fred imbert, mauricio valenzuela, picture alliance, getty images
Keywords: news, cnbc, companies, xi, trade, reportedly, morning, strike, lighthizer, treasury, deal, tariffs, meet, mnuchin, china, chinese, report, president, try


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Trump says he may not stick to March deadline on China tariffs

When asked if he will meet Chinese President Xi Jinping at the end of March, Trump said, “Not at this point.” The March 2 deadline is crucial in the negotiations as U.S. tariffs on Chinese goods will increase if a deal is not struck before then. The trade talks still seemed far apart as the two sides have not even drafted an accord specifying the matters they agree and disagree on. Kudlow also indicated, however, that Trump is “optimistic with respect to a potential trade deal.” Mnuchin said las


When asked if he will meet Chinese President Xi Jinping at the end of March, Trump said, “Not at this point.” The March 2 deadline is crucial in the negotiations as U.S. tariffs on Chinese goods will increase if a deal is not struck before then. The trade talks still seemed far apart as the two sides have not even drafted an accord specifying the matters they agree and disagree on. Kudlow also indicated, however, that Trump is “optimistic with respect to a potential trade deal.” Mnuchin said las
Trump says he may not stick to March deadline on China tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: yun li, tj kirkpatrick, bloomberg, getty images
Keywords: news, cnbc, companies, week, wide, tariffs, trade, xi, deadline, kudlow, deal, china, talks, stick, chinese, worked, trump


Trump says he may not stick to March deadline on China tariffs

When asked if he will meet Chinese President Xi Jinping at the end of March, Trump said, “Not at this point.”

The March 2 deadline is crucial in the negotiations as U.S. tariffs on Chinese goods will increase if a deal is not struck before then. Treasury Secretary Steven Mnuchin along with U.S. Trade Representative Robert Lighthizer headed to Beijing this week for another round of talks with Vice Premier Liu He. The trade talks still seemed far apart as the two sides have not even drafted an accord specifying the matters they agree and disagree on.

White House economic advisor Larry Kudlow said Thursday that there is a “pretty sizable distance to go” before China and the U.S. reach a deal. Kudlow also indicated, however, that Trump is “optimistic with respect to a potential trade deal.”

Mnuchin said last week the talks have been “very productive,” although he noted that a “wide range of issues” remains to be worked out.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: yun li, tj kirkpatrick, bloomberg, getty images
Keywords: news, cnbc, companies, week, wide, tariffs, trade, xi, deadline, kudlow, deal, china, talks, stick, chinese, worked, trump


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Here’s a blueprint for investors trading the different China-US trade war outcomes

Citigroup has a China trade deal strategy for all the possible outcomes from the trade negotiations between Washington and Beijing. Sectors in the crosshairs — including technology and industrials — could see the widest stock swings depending on the success of the talks, according to the report published Tuesday. While China has already started to repurchase U.S. agricultural goods and promised to protect intellectual property rules, Citigroup global economist Cesar Rojas believes any lasting ou


Citigroup has a China trade deal strategy for all the possible outcomes from the trade negotiations between Washington and Beijing. Sectors in the crosshairs — including technology and industrials — could see the widest stock swings depending on the success of the talks, according to the report published Tuesday. While China has already started to repurchase U.S. agricultural goods and promised to protect intellectual property rules, Citigroup global economist Cesar Rojas believes any lasting ou
Here’s a blueprint for investors trading the different China-US trade war outcomes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: thomas franck, jim watson, afp, getty images
Keywords: news, cnbc, companies, war, investors, heres, trade, chinaus, strategy, president, xi, deal, outcomes, trading, different, china, blueprint, citigroup, rojas, meeting, talks


Here's a blueprint for investors trading the different China-US trade war outcomes

Citigroup has a China trade deal strategy for all the possible outcomes from the trade negotiations between Washington and Beijing.

Sectors in the crosshairs — including technology and industrials — could see the widest stock swings depending on the success of the talks, according to the report published Tuesday. While China has already started to repurchase U.S. agricultural goods and promised to protect intellectual property rules, Citigroup global economist Cesar Rojas believes any lasting outcome is far from certain.

“The U.S. and China are still not ready for a deal, and while trade talks are scheduled to resume with high-level U.S. officials visiting China on February 14–15, the U.S. continues to set the stage for a China-containment strategy,” Rojas wrote. “After President Trump noted that no deal would be announced without him meeting with President Xi, the recognition that such [a] meeting is highly unlikely to happen before the March 1 deadline increased the uncertainty around a potential escalation of trade tensions.”

Rojas then laid out three separate cases for the trade talks and how each could impact the market and the varying sectors.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: thomas franck, jim watson, afp, getty images
Keywords: news, cnbc, companies, war, investors, heres, trade, chinaus, strategy, president, xi, deal, outcomes, trading, different, china, blueprint, citigroup, rojas, meeting, talks


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Trump says he may not stick to March deadline on China tariffs

When asked if he will meet Chinese President Xi Jinping at the end of March, Trump said, “Not at this point.” The March 2 deadline is crucial in the negotiations as U.S. tariffs on Chinese goods will increase if a deal is not struck before then. The trade talks still seemed far apart as the two sides have not even drafted an accord specifying the matters they agree and disagree on. Kudlow also indicated, however, that Trump is “optimistic with respect to a potential trade deal.” Mnuchin said las


When asked if he will meet Chinese President Xi Jinping at the end of March, Trump said, “Not at this point.” The March 2 deadline is crucial in the negotiations as U.S. tariffs on Chinese goods will increase if a deal is not struck before then. The trade talks still seemed far apart as the two sides have not even drafted an accord specifying the matters they agree and disagree on. Kudlow also indicated, however, that Trump is “optimistic with respect to a potential trade deal.” Mnuchin said las
Trump says he may not stick to March deadline on China tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: yun li, tj kirkpatrick, bloomberg, getty images
Keywords: news, cnbc, companies, week, worked, china, stick, tariffs, deal, xi, deadline, trump, trade, talks, chinese, kudlow, wide


Trump says he may not stick to March deadline on China tariffs

When asked if he will meet Chinese President Xi Jinping at the end of March, Trump said, “Not at this point.”

The March 2 deadline is crucial in the negotiations as U.S. tariffs on Chinese goods will increase if a deal is not struck before then. Treasury Secretary Steven Mnuchin along with U.S. Trade Representative Robert Lighthizer headed to Beijing this week for another round of talks with Vice Premier Liu He. The trade talks still seemed far apart as the two sides have not even drafted an accord specifying the matters they agree and disagree on.

White House economic advisor Larry Kudlow said Thursday that there is a “pretty sizable distance to go” before China and the U.S. reach a deal. Kudlow also indicated, however, that Trump is “optimistic with respect to a potential trade deal.”

Mnuchin said last week the talks have been “very productive,” although he noted that a “wide range of issues” remains to be worked out.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: yun li, tj kirkpatrick, bloomberg, getty images
Keywords: news, cnbc, companies, week, worked, china, stick, tariffs, deal, xi, deadline, trump, trade, talks, chinese, kudlow, wide


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Here’s a blueprint for investors trading the different China-US trade war outcomes

Citigroup has a China trade deal strategy for all the possible outcomes from the trade negotiations between Washington and Beijing. Sectors in the crosshairs — including technology and industrials — could see the widest stock swings depending on the success of the talks, according to the report published Tuesday. While China has already started to repurchase U.S. agricultural goods and promised to protect intellectual property rules, Citigroup global economist Cesar Rojas believes any lasting ou


Citigroup has a China trade deal strategy for all the possible outcomes from the trade negotiations between Washington and Beijing. Sectors in the crosshairs — including technology and industrials — could see the widest stock swings depending on the success of the talks, according to the report published Tuesday. While China has already started to repurchase U.S. agricultural goods and promised to protect intellectual property rules, Citigroup global economist Cesar Rojas believes any lasting ou
Here’s a blueprint for investors trading the different China-US trade war outcomes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: thomas franck, jim watson, afp, getty images
Keywords: news, cnbc, companies, rojas, china, strategy, president, war, blueprint, different, trading, deal, xi, trade, investors, outcomes, chinaus, talks, meeting, citigroup, heres


Here's a blueprint for investors trading the different China-US trade war outcomes

Citigroup has a China trade deal strategy for all the possible outcomes from the trade negotiations between Washington and Beijing.

Sectors in the crosshairs — including technology and industrials — could see the widest stock swings depending on the success of the talks, according to the report published Tuesday. While China has already started to repurchase U.S. agricultural goods and promised to protect intellectual property rules, Citigroup global economist Cesar Rojas believes any lasting outcome is far from certain.

“The U.S. and China are still not ready for a deal, and while trade talks are scheduled to resume with high-level U.S. officials visiting China on February 14–15, the U.S. continues to set the stage for a China-containment strategy,” Rojas wrote. “After President Trump noted that no deal would be announced without him meeting with President Xi, the recognition that such [a] meeting is highly unlikely to happen before the March 1 deadline increased the uncertainty around a potential escalation of trade tensions.”

Rojas then laid out three separate cases for the trade talks and how each could impact the market and the varying sectors.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: thomas franck, jim watson, afp, getty images
Keywords: news, cnbc, companies, rojas, china, strategy, president, war, blueprint, different, trading, deal, xi, trade, investors, outcomes, chinaus, talks, meeting, citigroup, heres


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Chinese stocks jump after return from holidays; US-China trade talks set to resume

Investors will be watching for developments on the U.S.-China trade front, with a new round of negotiations set to be held in Beijing later this week. The Wall Street Journal reported Friday that the two countries have not yet put together a draft on the matters they agree or disagree. “First, as of late last week, President Trump had declared that he would not be meeting with President Xi before the deadline (1st Mar) on the US-China trade truce expires,” the note said. “However, Trump has also


Investors will be watching for developments on the U.S.-China trade front, with a new round of negotiations set to be held in Beijing later this week. The Wall Street Journal reported Friday that the two countries have not yet put together a draft on the matters they agree or disagree. “First, as of late last week, President Trump had declared that he would not be meeting with President Xi before the deadline (1st Mar) on the US-China trade truce expires,” the note said. “However, Trump has also
Chinese stocks jump after return from holidays; US-China trade talks set to resume Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: eustance huang
Keywords: news, cnbc, companies, trade, xi, uschina, holidays, trump, stocks, deal, set, talks, resume, jump, chinese, president, tariffs, truce, return, best


Chinese stocks jump after return from holidays; US-China trade talks set to resume

Investors will be watching for developments on the U.S.-China trade front, with a new round of negotiations set to be held in Beijing later this week.

The Wall Street Journal reported Friday that the two countries have not yet put together a draft on the matters they agree or disagree. It comes as both Washington and Beijing are attempting to strike a deal on trade before a key March deadline, following which additional tariffs will be slapped on Chinese imports to the U.S.

U.S. President Donald Trump also said Thursday he will not meet with Chinese President Xi Jinping before that deadline.

“The reality is that olive branches, rather than rose stalks, are the best that anyone (anchored to reality) may be looking for,” said Mizuho Bank in a morning note.

It pointed to “restraints” overhanging those talks.

“First, as of late last week, President Trump had declared that he would not be meeting with President Xi before the deadline (1st Mar) on the US-China trade truce expires,” the note said.

“However, Trump has also categorically stated that there will be no US-China trade deal till he and President Xi have met. Therefore that is as good a guaranteeing that there will be no deal before the US-China truce expires.” That, the note said, not only “contradicts” Trump’s earlier tweets enthusing about a deal in the works, but also “begs the question” of whether that meant higher tariffs on Chinese imports.

One economist told CNBC that the “best case” outcome of the talks would be an “extension of the planned implementation” of the increase in tariffs.

“The problem that we have is that there’s a lot of complacency in the market about assuming that the best case actually happens,” David Mann, global chief economist at Standard Chartered Bank, told CNBC’s “Street Signs” on Monday. “Everyone’s assuming there will be no … further rises in tariffs this year,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: eustance huang
Keywords: news, cnbc, companies, trade, xi, uschina, holidays, trump, stocks, deal, set, talks, resume, jump, chinese, president, tariffs, truce, return, best


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Dow futures fall more than 100 points amid concerns over trade, growth

U.S. stock index futures were lower Friday morning, with market participants increasingly worried about a broadening global economic slowdown. ET, Dow Jones Industrial Average futures slipped 103 points, indicating a negative open of more than 108 points. Trump’s stance rattled investors hoping for a positive resolution to a long-running trade dispute between the world’s two largest economies. Elsewhere, the European Commission on Thursday sharply downgraded its forecast for euro zone economic g


U.S. stock index futures were lower Friday morning, with market participants increasingly worried about a broadening global economic slowdown. ET, Dow Jones Industrial Average futures slipped 103 points, indicating a negative open of more than 108 points. Trump’s stance rattled investors hoping for a positive resolution to a long-running trade dispute between the world’s two largest economies. Elsewhere, the European Commission on Thursday sharply downgraded its forecast for euro zone economic g
Dow futures fall more than 100 points amid concerns over trade, growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: sam meredith
Keywords: news, cnbc, companies, amid, economic, global, futures, trump, fall, xi, kim, growth, trade, points, dow, president, 100, meet, concerns


Dow futures fall more than 100 points amid concerns over trade, growth

U.S. stock index futures were lower Friday morning, with market participants increasingly worried about a broadening global economic slowdown.

At around 3:05 a.m. ET, Dow Jones Industrial Average futures slipped 103 points, indicating a negative open of more than 108 points. Futures on the S&P 500 and Nasdaq Composite were also seen relatively downbeat.

Market focus is largely attuned to global trade developments, after President Donald Trump said he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline to reach a deal.

Trump’s stance rattled investors hoping for a positive resolution to a long-running trade dispute between the world’s two largest economies.

While Trump and Xi are still expected to meet eventually, there’s too much work to do to flesh out a deal with China and prepare Trump for a high-stakes meeting with North Korea’s Kim Jong Un. Trump’s summit with Kim is set for Feb. 27-28.

Elsewhere, the European Commission on Thursday sharply downgraded its forecast for euro zone economic growth in 2019 and 2020. The news exacerbated fears that a global economic downturn is spreading to Europe.

Back in the U.S., investors are likely to monitor another fresh batch of corporate results on Friday. Arconic, Hasbro and Philips 66 are all expected to publish their latest quarterly earnings before the opening bell.

There are no major economic reports scheduled on Friday.


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: sam meredith
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Trump is ‘highly unlikely’ to meet Chinese President Xi before March trade deadline

A meeting between President Donald Trump and Chinese President Xi Jinping is “highly unlikely” before the March 2 deadline for reaching a trade deal, according to a senior administration official. While Trump and Xi are still expected to meet, there’s too much work to do to flesh out a deal with China and prepare Trump for a high-stakes meeting with North Korea’s Kim Jong Un. Trump and Xi may still meet “shortly thereafter” March 2, said the official, who requested anonymity, citing a lack of au


A meeting between President Donald Trump and Chinese President Xi Jinping is “highly unlikely” before the March 2 deadline for reaching a trade deal, according to a senior administration official. While Trump and Xi are still expected to meet, there’s too much work to do to flesh out a deal with China and prepare Trump for a high-stakes meeting with North Korea’s Kim Jong Un. Trump and Xi may still meet “shortly thereafter” March 2, said the official, who requested anonymity, citing a lack of au
Trump is ‘highly unlikely’ to meet Chinese President Xi before March trade deadline Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: kayla tausche, afp contributor, afp, getty images
Keywords: news, cnbc, companies, chinese, meet, deal, administration, president, deadline, lighthizer, highly, tariffs, according, unlikely, trade, xi, china, trump


Trump is 'highly unlikely' to meet Chinese President Xi before March trade deadline

A meeting between President Donald Trump and Chinese President Xi Jinping is “highly unlikely” before the March 2 deadline for reaching a trade deal, according to a senior administration official.

While Trump and Xi are still expected to meet, there’s too much work to do to flesh out a deal with China and prepare Trump for a high-stakes meeting with North Korea’s Kim Jong Un. Trump’s summit with Kim is set for Feb. 27-28.

Trump and Xi may still meet “shortly thereafter” March 2, said the official, who requested anonymity, citing a lack of authorization to speak publicly about the talks.

White House officials have advised against merging the two issues, despite China’s invitation for Xi and Trump to meet immediately following the Kim summit.

The administration official cautioned that the situation was fluid and that the status of the meeting could change after a trade delegation travels to Beijing next week.

Trump’s top economic advisor, Larry Kudlow, told reporters Thursday that he expects Xi and Trump to meet, but that when and where it happens is still up in the air.

Earlier, Kudlow told Fox Business that there’s a “pretty sizable distance” to go on a potential trade deal between the world’s two largest economies.

U.S. Trade Representative Robert Lighthizer has said he and Treasury Secretary Steven Mnuchin would make a recommendation to Trump on whether to agree to a summit after the two return from their trip to China next week. A delegation of U.S. deputies will conduct talks beginning Monday, with Lighthizer and Mnuchin joining later in the week, according to an administration official and a person briefed on the plan.

The question now is what happens to a tranche of tariffs in Chinese goods that is set to double automatically after March 1, in lieu of a presidential order. The likely outcome is that the tariffs remain at the current 10 percent rate, according to two administration officials and two people briefed by the White House.

The deadline was raised in a Feb. 6 briefing with the Senate Finance Committee. The information Lighthizer provided was “not very definitive,” according to Sen. Chuck Grassley, R-Iowa, the committee’s chairman.

As part of a broader deal, China is expected to require tariffs to be removed entirely, Lighthizer said, but he declined to say what would happen if a deal is not reached by the March 2 deadline.

The U.S. may also consider an alternative: a “snap-back,” in which certain tariffs are selectively rolled back but could be reintroduced if China does not follow through, according to three people briefed by the administration.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: kayla tausche, afp contributor, afp, getty images
Keywords: news, cnbc, companies, chinese, meet, deal, administration, president, deadline, lighthizer, highly, tariffs, according, unlikely, trade, xi, china, trump


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