Time is running out for the United States and China to reach an agreement before the deadline the Trump administration has set to more than double tariffs on US$200 billion (S$271 billion) of Chinese goods. White House economic advisor Larry Kudlow said earlier on Thursday that China and the U.
The countries had taken a 90-day hiatus in their trade war to hammer out a deal, and another round of talks is scheduled for next week in China.
That may depend on how trade talks in Beijing go next week.
Trump indicated last week that he might aim for an agreement in a summit with Xi.
The Journal also said the two sides have not even drafted an accord specifying the matters they agree and disagree on.
Officials Say Man Shot at Border Is Alive
He is also giving an ultimatum to the federal government - remove the wire or there will be lawsuit, The Associated Press reports. Officers referred the tractor-trailer to a secondary inspection station, according to information obtained from CBP officials.
He does anticipate the US and China could reach a deal later this year to remove the tariffs, with the upcoming election cycle playing a role in the timing.
ENERGY: U.S. crude lost 29 cents to $52.35 per barrel in electronic trading on the New York Mercantile Exchange. The Kospi in South Korea declined 1.2 per cent to 2,177.05 and Australia's S&P ASX 200 was down 0.3 per cent at 6,071.50.
Treasury Secretary Steven Mnuchin said Wednesday he, U.S. Trade Representative Robert Lighthizer and other senior administration officials will travel to Beijing next week for trade talks, aiming to strike a deal before the deadline. President Trump has repeatedly threatened increasing tariffs on various Chinese goods imported to the U.S. if the two sides do not broker a permanent deal to end the standoff. Treasury bond yields dropped as investors sought safety in sovereign US debt. They include USA demands that China boost imports of US products, and Chinese government and corporate pressure on US firms to transfer their technology to Chinese partners.
"The likely outcome is that the tariffs remain at the current 10 percent rate", CNBC reported Thursday, citing administration officials and sources briefed by the White House.
Lighthizer told reporters last week that the two leaders may not meet if the negotiations do not progress sufficiently.
"If we do make headway, and the president thinks we're close enough that he can close the deal on major issues, then I think he'll want to have a meeting and do that", he told reporters. "It's encouraging that the administration is keeping soybeans in their trade conversations with China", says Davie Stephens, ASA President.
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