Donald Trump admits meeting Xi Jinping before the March 1 trade war deadline is ‘unlikely’
- The news dashed optimism that the US and China were moving towards a deal before tariffs on Chinese imports rise to 25 per cent on March 2
US President Donald Trump said on Thursday that it was “unlikely” he would meet with his Chinese counterpart Xi Jinping before a crucial March deadline, a significant change in the prospects for ending a trade war that has roiled the global economy.
A meeting between the two leaders, which was announced last week after two days of trade talks in Washington, was originally expected to take place at the end of this month, close to Trump’s second summit meeting with North Korean leader Kim Jong-un in Vietnam.
Speaking to reporters at the White House on Thursday, Trump confirmed that no meetings between him and Xi were planned before the March 1 deadline for a deal. In the absence of an agreement, additional US tariffs on Chinese imports are scheduled to be imposed on March 2.
Trump responded “No” and shook his head when asked if he would meet with Xi this month. Then he added, “Unlikely.”
The news follows White House economic adviser Larry Kudlow’s less-than-upbeat comments to Fox Business earlier Thursday that there is a “pretty sizable distance” between the world's two largest economies to reach a deal.
The remarks were the first drastic shift in tone since Washington and Beijing stepped up negotiations last week, hoping to agree to a framework for a deal by the deadline. The countries had taken a 90-day hiatus in their trade war, putting a planned increase in tariffs on hold, to hammer out an accord. Without one, the US will increase the tariffs on US$200 billion of Chinese goods to 25 per cent from the current 10 per cent.