Xi-Trump consensus loadstar for China, US win-win trade agreement

Trump delays tariff increase as talks progress

As a result, he will be delaying the USA increase in tariffs now scheduled for March 1.

"SEMA supports the administration's efforts to address China's unfair trading practices, but the use of tariffs as a negotiating tool has caused harm to many SEMA member companies", Mr. Kersting said. He surely recognizes this, despite his aggressive position towards China past year.

U.S. President Donald Trump tweeted on Sunday that he would extend the March 1st deadline that would see an increase in tariffs on Chinese imports, citing substantial progress in recent trade talks.

During the three rounds of high-level talks in almost one month, both Chinese and USA presidents met the two negotiating teams to offer guidelines and impetus for future engagements.

But the cracks in the global economy, the stock market turmoil in the fourth quarter, Trump's flagging approval rating, and the pressure from the onset of the 2020 presidential campaign seem to have all combined to change Trump's thinking. Washington wants Beijing to roll back plans including "Made in China 2025", which calls for government-led creation of global competitors in robotics and other technology.

Democrats in Congress were more pointed, saying Trump should be prepared to walk away from a bad deal.

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"We need to have legitimate structural changes &enforcement w China or else they will continue cheating &stealing our IP/trade secrets", said Grassley, who is from Iowa, a state hard hit by China's retaliatory duties on U.S. soybeans. If Trump is desperate for a deal to take a domestic political liability off of his plate, why should China give ground?

U.S. President Donald Trump looks on during a meeting with China's Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer (R) in the Oval Office at the White House in Washington, U.S., February 22, 2019.

The report by the American Chamber of Commerce in China sounded a note of caution amid optimistic official statements about possible progress toward settling a U.S.

The Nasdaq Composite climbed 0.36 percent to close at 7,554.46.

Some have expressed concerns that after almost eight months of tit-for-tat tariffs roiling global financial markets, disrupting manufacturing supply chains, and shrinking USA farm exports, Trump could end up settling for a deal that increases commodity sales to Beijing while doing little to change China's underlying trade practices and industrial policies. "We expect more USA crude to come to China as a result of Beijing's promise to increase U.S. energy imports", a Beijing-based trader told S&P Global Platts. "But they also think that maybe the tariffs have done some good in provoking very serious negotiations between the two sides", Stratford told Reuters earlier. The ratcheting up of tariffs threatened to drag down global growth, but a major trade "deal", however illusory, would remove that danger.

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