Top trade negotiators from the United States and China are holding two days of trade talks in Beijing, racing to reach a deal before March 1 when U.S. President Trump has threatened to raise tariffs on $200 billion of Chinese products from 10% to 25%. – South China Morning Post
Bloomberg reported President Trump said he’s open to extending his March 1 deadline, sending a conciliatory signal amid the trade talks. Extending the deadline could pave the way for a potential deal-clinching meeting between Trump and Chinese President Xi Jinping.
Meanwhile, the value of Chinese goods exported in January grew 9% from a year earlier, surprising economists. The Chinese government data was released during the trade talks between the U.S. and China in Beijing. Top companies including Apple and Caterpillar have blamed weakness in the Chinese economy for their disappointing earnings. – CNN Business
The talks are scheduled to run through Friday. Trump and Chinese President Xi Jinping are expected to meet in March, according to USDA Deputy Secretary Stephen Censky. – CNBC
But even if the two countries strike a deal, a growing number of corporations are taking action as friction-free trading between the two countries is likely a thing of the past, the Washington Post reports. At least some of the president’s more than $250 billion in tariffs on Chinese products are likely to remain in place indefinitely.