President Trump optimistic ahead of trade talks with China

President Trump optimistic ahead of trade talks with China

It would make "so much sense" for China to "finally do a Real Deal", he wrote on Twitter this month.

In four early-morning tweets, the president said he plans to meet with Xi in the "near future to discuss and agree on some of the long standing and more hard points".

Both The Wall Street Journal and CNBC reported that the possible meeting could take place right after a summit between Trump and North Korean leader Kim Jong Un and just before the U.S.

People's Bank of China Governor Yi Gang declined comment on Chinese proposals as he left the delegation's hotel for the meetings in Eisenhower Executive Office Building, next to the White House.

"Our sense from our discussions last week in China is that China is struggling to come up with anything on the technology transfer side, and from our standpoint that's problematic", Myron Brilliant, the chamber's head of worldwide affairs, said.

But he said China wanted to strike a deal to avoid an increase in tariffs.

Liu and a delegation will met with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin on Wednesday.

Details of the closed-door talks were scant with official statements seen as unlikely before they conclude on Thursday.

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The American delegation is led by Trade Representative Robert Lighthizer, a longtime critic of aggressive Chinese trade practices and of USA policies that failed to blunt them. Liu is expected to meet Trump on Thursday, US time.

The trade war has magnified uncertainties for businesses, raised priced in some sectors and unsettled investors.

"Those certainly are signs that the parties believe that some type of deal could be done", she said, adding that an escalation in tariffs would be in no one's interest.

Trump has threatened to extend the tariffs to an additional $267 billion in Chinese goods if a trade deal is not reached by the March 1 deadline.

That's because the build-up for the meeting-and the expectations of a deal-will be so high that a negative outcome would tank markets globally and batter both economies. Treasury Secretary Steven Mnuchin declared the trade war "on hold" after China had agreed to step up its purchases of USA goods, especially in agriculture and energy, and narrow America's huge trade deficit with China.

The US has objected to Chinese plans for state-led development of advanced technologies that American officials say violate Beijing's market-opening commitments.

China has already made some significant concessions, including vowing to increase U.S. imports to reduce the trade imbalance between the two countries. This could maintain the threat of USA tariffs on Chinese goods for the long term. Trump has vetoed multiple proposed trade deals with China, choosing to push ahead with tariffs on Chinese goods to gain leverage. It also predicted overall US GDP growth would slow to 2.3 per cent this year, 1.7 per cent in 2020, and 1.6 per cent in 2021.

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