Trump mulling extension to tariff deadline

Open this

Open this

A top White House economic adviser is expressing confidence in the current U.S.

China has also offered to sharply increase purchases of USA soybeans and other farm and energy commodities to help cut the US trade deficit, which exceeded $382 billion in 2018.

White House National Economic Council Director Larry Kudlow speaks to reporters at the White House in Washington, Thursday, Feb. 7, 2019.

Chinese state news agency Xinhua reported on Thursday that China's Vice Premier Liu He met US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin. But business groups and foreign governments point to rules they say compel companies to share technology with state-owned local partners or disclose trade secrets.

President Trump is reportedly considering extending the March 1 deadline for the imposition of higher tariffs on China by 60 days as the world's two largest economies continue trade negotiations.

Chinese staffers adjust a US flag before the opening session of trade negotiations between USA and Chinese trade representatives at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019.

When asked Thursday if there would be an extension, Kudlow said, "No such decision has been made so far".

"There's been notably less progress" around such issues, said Jeremie Waterman, president of the U.S. Chamber of Commerce's China Center and a former U.S. trade official. We'll see what happens, but I think it's going along very well.

China proposed in the talks this week to increase purchases of US semiconductors to $200 billion over six years as part of a deal to ease American tariffs, a person briefed on the talks told Reuters.

"The vibe in Beijing is good", Kudlow told Fox News Channel of the U.S.

The two USA cabinet officials will meet with Xi on Friday, the South China Morning Post reported, citing a source briefed on the arrangements.

"When the time is right, the hope would be that the personal chemistry that exists [between Trump and Xi] will pay dividends", said Erin Ennis, senior vice president at the U.S.

Chinese officials reject complaints that foreign companies are required to hand over technology.

US Department of Agriculture Deputy Secretary Stephen Censky said on Wednesday that the two presidents were expected to meet "sometime in March", but no dates were set.

FILE - A woman browses her smartphone as she walks by a Huawei store at a shopping mall in Beijing, Dec. 11, 2018.

Chinese officials also are balking at USA pressure to accept an enforcement mechanism to monitor whether Beijing carries out its promises, said Kuijs.

This year's Munich Security Conference topics include the "great power competition" between the United States, China and Russian Federation.

US prosecutors have filed charges against Huawei including bank fraud, violating sanctions against Iran, and stealing trade secrets. Conference organizers have listed U.S.

Latest News