US President Donald Trump said that he won't meet his Chinese counterpart Xi Jinping ahead of a trade deal deadline on March 2 when American tariffs on Chinese products are slated to increase. On Thursday (February 7th), while being asked by a reporter whether Trump would like to meet China's Xi before the trade truce, Tramp said "no", voicing an intransigent air, which had flawlessly added further strains to the concerns related to trade conflict. Trump has now dashed China's hopes for a resolution this month, confirming earlier reports suggesting the two would not meet any time soon. The deadline is rapidly approaching with no plans in place for the two presidents to meet.
Asked during an event in the Oval Office whether there would be a meeting before the deadline, Trump said: "No".
US President Donald Trump (R) and China's President Xi Jinping (L) along with members of their delegations, hold a dinner meeting at the end of the G20 Leaders' Summit in Buenos Aires, on December 01, 2018.
Trump has been saying. But that is off in the distance still at the moment, ' Kudlow said.
Trump claims that he is in a warm relationship with the Chinese president.
According to Peter Jankovskis, co-chief investment officer at Oak Brook Investments LLC in Lisle, Illinois, said believes said that the market was affected because the market was lifted in the month of January because of the optimism that surrounds the trade talks. The broad S&P 500 index shed 0.9 percent to 2,706.05. The benchmark 10-year yield slid 4 basis points to 2.66 percent, the lowest in almost a week. "They're making a mistake because they need to be prepared", he said.
Officials say they remain optimistic they will reach an accord, but more work remains before the two presidents can complete a deal.
USA stocks fell sharply on Thursday as it became clear the meeting will not take place before the deadline.
What happens to tariff rates on March 2 remains unclear.
But Reuters later cited three anonymous sources who indicated the CNBC report was incorrect.
Washington is demanding far-reaching changes from China to address unfair practices it says are deeply unfair, including theft of American intellectual property and the massive Chinese trade surplus.
Lighthizer said last week that tariffs had not been a subject of the talks.
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