Trump says China trade talks 'moving along very nicely'

US President Donald Trump watches as China's Vice Premier Liu He speaks with US Trade Representative Robert Lighthizer in the Oval Office of the White House in Washington DC on Feb 22 2019. Trump is likely to meet Liu again during the lates

A settlement of the conflict, even if it includes a signing summit and the USA policing the application of the deal, can not and will not increase US exports or reduce its global trade deficits. If we don't have a deal, we're not going to have a summit. In order to avoid the tariffs, Mr. Trump says Mexico must do more to prevent illegal immigration into the USA and if it does not crack down on drugs crossing the border.

When asked what is coming in the way of the deal, he said "It is enforcement".

(AP) An Associated Press graphic shows the increasing US-China trade deficit over time and compares with other top USA trade deficits from other counties. "I would say we'll know over the next four weeks", he said.

These would be added to the already imposed tariffs on $250bn worth of Chinese goods, and China duties on $110bn of U.S. products. "I think we're going to get that done".

"Both leaders do seem to want a deal, so it's likely they'll get there", said Timothy Keeler, a partner at Mayer Brown and a former chief of staff for the US Trade Representative in the George W. Bush administration. "I would think within the next four weeks or maybe less, maybe more - whatever it takes - something very monumental could be announced", the United States president said. While some progress is being made, resolving more contentious issues such as the forced transfer of technology is taking longer. A meeting date between Trump and Xi could be announced as early as Thursday, people familiar with the plans said.

President Donald Trump says "we are rounding the turn" to describe the state of trade negotiations with China. "He's become a good friend", he said at the White House meeting.

While there seems to be progress made in US-China trade negotiations, they've yet reached a concluding stage.

Liu He said the U.S. and China had reached a new consensus on important issues like the text of the economic and trade agreement, Xinhua reported.

Investor sentiment seems bolstered by Trump's statement Thursday that the USA and China were "rounding the turn" in the talks, which resumed Wednesday in Washington.

Last month, Trump said the tariffs would stay in place for "a substantial period", although whether this would apply to both tranches of goods subjected to the new duties was unclear.

Failure to achieve a deal may see the USA more than double the 10% tariffs on $200bn (£153bn) of Chinese goods and impose fresh tariffs.

Washington wants the right to keep the 10 per cent tariff it imposed past year on $US200 billion ($281 billion) of imports into the USA, and to increase the hit if China fails to deliver without giving Beijing the right to retaliate in turn.

The nine-month trade war has disrupted supply chains, whipsawed markets and weighed on the world economy.

Beijing hopes that Washington can get rid of existing US duties on Chinese imports, according to the Financial Times.

The United States is seeking reforms to Chinese practices that it says result in the theft of US intellectual property and the forced transfer of technology from USA companies to Chinese firms.

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