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China's President Xi to meet top U.S. trade negotiators on Friday - SCMP

13 February 2019

Chinese and USA officials will hold high-level talks this week aimed at halting their damaging trade war.

If there's no deal by then, President Donald Trump has threatened to more than double the rate of tariffs on $200 billion in Chinese imports.

Investors will be looking to see if both sides can hammer out a deal before a March 1st deadline to avert higher US tariffs on Chinese goods.

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"I think they're making progress and my hope is that by March 1 there will be enough progress to be made that at a minimum, there could be a delay in the imposition of additional tariffs", Portman told reporters. Last week, Trump said that he would not meet Xi before the deadline, but further planning for a summit had not been reported.

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are now in Beijing, two days ahead of high-level talks with their Chinese counterparts.

Talks kicked off in Beijing with discussions among deputy-level officials on Monday before minister-level meetings later in the week.

While China has offered to buy more United States soybeans and beef, officials have yet even to agree on a draft of a deal that would address key U.S. concerns, according to media reports. It has fast-tracked approval of a law that would ban theft of intellectual property and forced technology transfers, but the question is how much more it can compromise.

Meanwhile the U.S. president Donald Trump also said that he would not meet China's president Xi Jinping before truce deadline, March 1st, GMT.

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China's President Xi to meet top U.S. trade negotiators on Friday - SCMP