Trump sees no Xi meeting by tariff deadline, stoking trade worry

Trump and Xi shake hands after making joint statements in Beijing in November 2017

The U.S. has already imposed levies on $250 billion in Chinese goods, with China also slapping duties on $110 billion in U.S. products. However, a trade war is likely to escalate between the countries.

Trump is also uncertain whether there will be a meeting scheduled next month.

Trump has vowed to increase USA tariffs on $200 billion worth of Chinese imports to 25 percent from 10 percent now if the two sides can not reach a deal by 12:01 a.m. (0501 GMT) on March 2.

It was initially expected Trump and Xi would meet alongside the president's summit with North Korean leader Kim Jong-un between February 27 and 28 in Da Nang, Vietnam.

Larry Kudlow, Trump's top economics advisor, told reporters Thursday he still anticipates a meeting between Trump and Xi, CNBC reports, but the details are not yet planned.

The S&P 500 Index market worth dropped by 0.93 percent, the biggest drop in 2 weeks.

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The trade will not move mountains nor change much for the Miami Heat who are loaded with depth at the guard position. Phoenix has the ability to swing another deal for Ellington but he can not be aggregated into a package deal.

"No final deal will be made until my friend President Xi, and I, meet in the near future to discuss and agree on some of the long standing and more hard points...."

Mnuchin and US Trade Representative Robert Lighthizer are scheduled to travel to China next week to continue for the third round of trade negotiations. Treasury bond yields dropped as investors sought safety in sovereign USA debt. It is also expected that the situation will negatively affect the US stock market.

The US stock market has fallen in response to the news, with hopes of a swift trade pact between the two leaders quickly dampened. The benchmark 10-year yield slid 4 basis points to 2.66 percent, the lowest in almost a week.

In his State of the Union address on Tuesday, Trump said a trade deal needed to include "real structural change to end unfair trade practices, reduce our trade deficit and protect American jobs".

Washington complaints about technology transfers and intellectual property protections, along with accusations of Chinese cybertheft of United States trade secrets and a systematic campaign to acquire USA technology firms, were used by Trump's administration to justify punitive tariffs on $250bn worth of Chinese imports.

Trump, who made the comments on Thursday during two days of negotiations between American and Chinese trade officials, suggested a face-to-face meeting could be combined with his trip to Asia later this month for a second meeting with North Korean leader Kim Jong-un, reports The New York Times. A source familiar with the talks expressed skepticism about that report to Reuters, and Lighthizer said last week that tariffs had not been a subject of the talks.

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