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Trump: US May Extend Deadline On China Trade Talks

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Trump: US May Extend Deadline On China Trade Talks

President Donald Trump said Friday he may extend a March 1 deadline for reaching a trade deal with China if the two countries are close to an agreement.

“We’re a lot closer than we ever were in this country [to] having a real trade deal,” Trump told reporters at the White House at the outset of a news conference in which he announced he was declaring a national emergency in order to build a wall at the country's southern border. 

“Negotiation's been going on for about two days, it’s going extremely well,” Trump said. “Well, who knows what that means, because it only matters if we get it done.”

Trump: Deadline Could Be Extended 

The White House and China set the March deadline for reaching an agreement in the ongoing trade dispute between the two countries, and Trump previously said he would increase U.S. tariffs on more than $200 billion in imports from China if an agreement on several issues couldn’t be worked out by the deadline.

“There is a possibility that I will extend the date,” Trump said Friday. “If I see we’re close to a deal or the deal is going in the right direction, I would do that.”

Several issues are on the table, but among the thorniest is an American objection to China’s investing of large amounts of government money in several manufacturing sectors that are directly competing with private Western industries. Among those are aircraft manufacturing, artificial intelligence and other tech industries.

Trump said he would like to see the tariffs the U.S. has already imposed on Chinese imports removed, but will only do so if an acceptable deal is reached. He also added, however: “I happen to like tariffs.”

Presidential Summit Imminent? 

The talks in Beijing this week were conducted at a high level, with American attendees including Treasury Secretary Steven Mnuchin and U.S. trade representative Robert Lighthizer.

Related Links:

State Of The Union Fallout For Trade War, Pharma And Infrastructure Stocks

The US-China Trade Truce: 'You Don't Know For Certain How This Is Going To Play Out'

President Donald Trump walks across the South Lawn of the White House after disembarking from Marine One on Jan. 14. White House photo by Joyce Boghosian. 

Posted-In: China Donald Trump tariffsGovernment News Politics Global General Best of Benzinga

 

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