Trump Says No Final China Trade Deal Until He Meets With Xi

US and China launch trade talks amid differences over economic reforms

President Donald Trump said negotiations are going well on the last day of high-level trade talks between the USA and China but that no deal will be final until he meets with Chinese President Xi Jinping.

President Donald Trump expressed optimism about forging a comprehensive trade accord with China as high-level talks continued on Thursday, but said any arrangement that fails to open Chinese markets broadly to USA industry and agriculture would be unacceptable. "Meetings are going well with good intent and spirit on both sides".

US President Donald Trump warned today that a trade deal with China would be unacceptable unless Beijing opened its markets to US financial services, manufacturing, agriculture and other industries.

Trump's comments Thursday - including that an agreement has a "very good chance of happening" - were the clearest articulation he has given so far of his desire to resolve his trade war with China.

Trump, meanwhile, has seen his public approval ratings battered by the partial government shutdown and is said to worry about the tariff war's impact upon USA financial markets.

The president said the deal he wants will either be "a very big deal" or "it's going to be a deal that we'll just postpone for a little while".

China is fighting a major trade dispute at the WTO against USA and European Union claims that China is not a "market economy" and therefore that its export prices should not be taken at face value when evaluating whether it is trading fairly.

The talks began two days after the United States charged Chinese telecommunications company Huawei Technologies Co Ltd and its chief financial officer, Meng Wanzhou, with conspiring to violate US sanctions on Iran by doing business through a subsidiary it tried to hide.

The US and China may hold two more rounds of talks before the trade war truce period expires on March 1, a diplomatic source told the SCMP, as both sides fight to avoid a deepening of tensions.

The US has objected to Chinese plans for state-led development of advanced technologies that American officials say violate Beijing's market-opening commitments.

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"This isn't going to be a small deal with China".

He sounded optimistic about the negotiations - and said the tariffs he slapped on China were helping the U.S. economy.

Chinese officials are in Washington, D.C., this week for negotiations with top USA officials as the world's top two economies seek and end their trade dispute.

People familiar with the talks said manufactured goods, a key priority for the Trump administration, were among the largest components of Chinese purchase pledges aimed at significantly reducing the US trade deficit with China. He has also imposed global tariffs on imported steel and aluminum, washing machines and solar panels and has threatened to raise tariffs on imported cars unless Japan and the European Union offer trade concessions.

Chinese officials deny that their policies coerce technology transfers.

A crucial component of any progress in the talks, according to US officials, is agreement on a mechanism to verify and enforce China's follow-through on any reform pledges.

"The scope of these talks will be the broadest and deepest in U.S".

Trump took a tough stance with China previous year to end Beijing's decades-long protectionist and trade-distorting practices, by imposing tariffs and investment restrictions.

U.S. officials insist that the Huawei case is entirely separate from the trade negotiations.

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