A summit to ink a trade deal between Chinese President Xi Jinping and US President Donald Trump will not occur by March end as planned as more work is needed in negotiations, US treasury secretary Steven Mnuchin recently said. After a US Senate Finance Committee hearing, he said both sides are ‘working in good faith’ to reach a deal at the earliest possible.

No fresh face-to-face meetings have been scheduled in the negotiations since Trump delayed a threatened March 1 tariff hike on Chinese goods following a late February round of talks.

Trump, however, said that the talks with a ‘very responsible and very reasonable’ China are going ‘very well’ and the outcome would be known over the next three or four weeks, according to global news wires.

Chinese vice premier Liu had spoken by telephone with both Mnuchin and US Trade Representative Robert Lighthizer and the two sides made further substantive progress on trade talks, an official Chinese news agency reported recently.

Trump also reportedly acknowledged Xi’s reluctance to come to his Mar-a-Lago estate in Florida without an agreement in hand after seeing him end a separate summit in Vietnam with North Korean leader Kim Jong Un without a peace deal. But he said he was in no rush to complete a trade deal with China. (DS)

Fibre2Fashion News Desk – India

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