US-China reengage in trade talks
As U.S.-China trade negotiations resumes with deputy level meetings, the two countries are trying to hammer out a deal before the March 1 deadline. Vining Sparks chief economist Craig Dismuke with more.
Trade talks between the U.S. and China have resumed and China is reportedly upbeat.
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One main topic in this round involves how China treats American companies’ intellectual property.
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An agreement on that issue would go a long way toward sealing a trade deal that could prevent tariffs from rising on Chinese imports.
The latest talks will begin with working level discussions from Monday-Wednesday before high-level discussions at the end of the week, according to Reuters.
The American side is led by Deputy U.S. Trade Representative Jeffrey Gerrish.
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U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will join higher principal-level talks Thursday and Friday.
The two sides are trying to hammer out a deal ahead of the March 1 deadline when U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.
Markets have had drastic reactions to headlines concerning trade.
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White House advisor Larry Kudlow told Fox Business last week, “There is a pretty sizable distance to go in U.S.-China trade talks.” After those comments, the Dow Industrials fell into a downward spiral of around 300 points.
Reuters had reported that Trump said he did not plan to meet with Chinese President Xi Jinping before the March 1 deadline set by the two countries for reaching a trade pact.
