China’s Xi calls for early conclusion of USA trade talks

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Gregory Daco, chief USA economist at Oxford Economics, said in a report on Thursday, "A trade deal between the two economic giants would help alleviate global growth concerns, provide a much-needed global confidence boost and lift markets", the Associated Press reported.

Last week, negotiators from both the countries met in Beijing to resolve the nine month-long trade war.

However, the deal is coming under fire in the US media even before it is announced.

U.S. Commerce Secretary Wilbur Ross (L) shakes hands with Chinese Vice Premier Liu He as they pose for photographers after their meeting at the Diaoyutai State Guesthouse in Beijing, June 3, 2018.

"So, that's not looking like a good start for the negotiations", she added.

From this perspective, an agreement that mainly delivers a promise from China to purchase more goods solves a problem that doesn't really exist. "So we hope for the best but we'll see what happens", said Peter Navarro, who leads the House National Trade Council. So said President Trump yesterday after meeting with the head of China's trade delegation.

After their meeting, Trump told Xi, "I want to thank you again - you're a very special man - for your gracious hospitality". It will be here. We have a great partner in the vice-premier. If we don't have a deal, we're not going to have a summit. "We've agreed to far more than we have left to agree to", he said.

"It's got to be a great deal", he said.

China accuses the U.S. of launching the largest trade war in economic history and is unlikely to embrace broader structural changes, which are seen by some as a way to contain its rise. "I would say we'll know over the next four weeks", he said.

U.S. and Chinese officials are still discussing when the two leaders could sit down to sign off on their trade deal.

"We welcome the president's decision not to close the Mexican border", said Neil Bradley, executive vice president at the chamber. "We hope this week to get closer". Those comments come just hours after President Trump touted a "very monumental" trade deal is in the works, despite admitting that there is a lot more to be done.

Negotiations so far have focused mainly on what China will do to reduce its goods trade surplus with the USA, which reached a record $419.2 billion past year. Speaking at the White House, the president said the two countries are nearing a deal.

In the message, Xi said that new, substantial progress has been made on the text of the China-US economic and trade agreement in the past month or so.

To pressure China, the USA imposed tariffs on United States dollars 250 billion in Chinese goods. The latest round of U.S. tariffs on $267 billion-worth of goods from China, scheduled for March 1, was postponed to allow for the talks, however.