Markets will push Trump into a trade deal: China regulator
Markets will push Trump into a trade deal: China regulator
White House's Kudlow says 'no cancellation' of US-China trade meeting
25 January, 2019, 18:39
US stocks took further losses after the Financial Times reported that the Trump administration canceled a proposed a meeting with Chinese trade officials this week.
"Enforcement is absolutely crucial to the success of these talks", Kudlow said. But I look at it like this: "there's still nothing agreed on in writing", said one source familiar with the discussions.
With no quick end in sight to U.S.
Therefore, the trade war that dampened confidence in China's economic prospects and roiled markets in both countries in the second half of 2018 may no longer be a pressing issue for 2019, he said.
The S&P 500 index lost 37.81 points, or 1.4 percent, to 2,632.90.
In addition to promises of buying more energy and agricultural products from the US, China may also make other commitments to soothe American concerns, Lau said. "It's going very well", Trump told reporters at the White House on Saturday. "But we're doing very well in our negotiations with China", he said.
That is not sufficient for Trump or his team.
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A member of the United States delegation said the two sides would resume talks on Wednesday as they continue their first face-to-face meetings since Trump and Chinese President Xi Jinping agreed to a tariff truce during a meeting in Argentina on December 1.
"To think that this is going to end with simple 'commitments, ' I think, is overlooking the historical experience that we've had", the USA official said.
The talks are taking longer than expected as the Chinese commerce ministry had said last week that the meetings would take place on Monday and Tuesday.
"We'll see what happens".
"These weren't sufficient to satisfy the USA negotiation team".
If both sides fail to reach a resolution to the trade war, U.S. duty rates on $200 billion in Chinese goods are due to rise to 25 percent from their current 10 percent, a prospect that has shaken markets in recent months.
Earlier, Larry Kudlow, director of the US National Economic Council, denied that a vice-ministerial meeting had been scheduled for this week.
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