The U.S. and China will continue talks this week that will hopefully lead to an end to the trade war between the two economic superpowers. A Reuters article says sources from both sides feel the recent negotiations kept things moving forward. The Trump Administration still seems committed to the March 1 deadline to reach a deal or raise tariffs on more Chinese imports.
President Donald Trump had said recently that he’s “reluctantly willing to let the target date slide.” The recent talks focused on agriculture, property rights, technology, non-tariff barriers, and currency. Chinese President Xi Jinping met Friday with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin after a full week of talks that included lower-level officials. If the two sides don’t’ reach a deal and the deadline isn’t extended, tariffs on $200 billion worth of Chinese imports will rise from 10 percent to 25 percent.
After the conclusion of talks on Thursday, which included a banquet for officials, Mnuchin said on Twitter that he and Lighthizer held “productive meetings with President Xi’s top economic adviser.” Lighthizer says they’ve made good progress on important and difficult issues. While there’s additional work to do, Lighthizer describes U.S. officials as hopeful.