Trump will not meet Xi Jinping before trade deadline
President Donald Trump made clear Thursday he does not plan to meet with Chinese President Xi Jinping before a March 1 deadline to reach a deal to end a trade war between the world’s two biggest economies. Conway G. Gittens reports.
President Trump dashed hopes of a near resolution to the U.S.-China trade spat.
Trump on Thursday said he will not meet with Chinese President Xi Jinping before a March 1st deadline.. That’s the deadline for a deal.. if none is reached by then, then the U.S. raise tariffs on $200 billion worth of Chinese goods to 25 per cent
Stocks dropped more than one per cent across the board as word circulated around the trading floor. Investors fear any escalation in a trade war between the world’s two biggest economies spark a global economic slowdown.
White House Economic Adviser Larry Kudlow tried to downplay investor fears that the Beijing-Washington trade deal is on the ropes.
“The March 1st deadline is still intact and hopefully they will make some additional progress.”
Later adding, Presidents Trump and Xi could meet at a later date.
But that did little to sway investor sentiment.
Investors are likely to remain nervous as negotiating teams prepare to meet next week in Beijing to hammer out a trade agreement before a do-or-die deadline.
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