White House says China has indicated it wants to make trade deal

World shares mixed as China affirms trade talks to go ahead

The U.S. and China sent conflicting signals over trade, with President Donald Trump expressing optimism about the prospect of a deal and Beijing warning that it will retaliate if the U.S. follows through on a threat to hike tariffs.

The International Monetary Fund (IMF) said the escalation of US-China trade tension was one factor to have contributed to a "significantly weakened global expansion" late a year ago as it cut its 2019 global growth forecast.

The US also wants China to buy more US goods to rein in its lofty $419bn (£321.2bn) trade deficit with China.

"The reason for the China pullback & attempted renegotiation of the Trade Deal is the honest HOPE that they will be able to "negotiate" with Joe Biden or one of the very weak Democrats", Trump tweeted. He did not elaborate.

"This undermines the core architecture of the deal", said a Washington-based source with knowledge of the talks. "China won't shun problems and is honest about continuing talks".

Sen. Ted Cruz (R-TX) told Yahoo Finance he's hopeful negotiations will lead to "significant progress" to expand access to Chinese markets. However, the Times presents no reason to believe that, at root, Trump's decision is other than what his advisers say it is - a response to bad faith negotiating by China.

USA officials say they got an inkling of China's second thoughts in talks last week in Beijing, but that the backsliding became even more apparent in exchanges over the weekend.

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He also said Vice Premier Liu He will be among the delegation participating in the talks Thursday and Friday, but did not elaborate on what topics would be discussed.

"The Trade Deal with China continues, but too slowly, as they attempt to renegotiate". Trump announced the plan on Sunday. "We do not think Beijing will submit to bullying by the USA president".

Trump said in another tweet on Wednesday that "China has just informed us that they (Vice-Premier) are now coming to the U.S.to make a deal". It also would seem to be inevitable that there could be isolated events of layoffs, furloughs, hiring freezes and financial losses in many street-level instances.

The US and China have been engaged in a tit-for-tat tariff war since March 2018, when the Trump administration accused China of plundering US intellectual property.

More time for talks! China would also have to move further towards the US position on other sticking points, such as demands for curbs on Chinese industrial subsidies and a streamlined approval process for genetically engineered USA crops. As recently as last week the USA had been expressing optimism about the possibility of a deal being announced this week, but with Trump's new tariff threats everything has been thrown into doubt creating confusion which has resulted in United States stock markets taking a dive at least briefly.

"The market was just very complacent thinking a deal would happen", said Sandy Villere, portfolio manager at Villere & Co.

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