Chinese and US negotiators initiated two days long high-level discussions which the US President Donald Trump claims could decide whether he increases the remarkable tariff battle between the two biggest economies of the world. The US President indicated in this week that he was unfolded to widening a trade truce beyond March 1st depending on progress in Beijing. He is pondering to push the deadline back in an additional 60 days.
The US President postponed his planning to implement a hike in tariff sharply on $200 billion of Chinese imports for allowing more time for negotiation.
The two global economic superpowers have already enforced duties on more than $360 billion in bilateral trade, which has measured their manufacturing sectors and unsettling the global financial markets.
The US Trade Representative Robert Lighthizer, as well as Treasury Secretary Steven Mnuchin, are meeting with the top economic czar of China Liu He attempting to build on progress made in Washington in the last month.
While he was leaving his hotel for the discussions on Thursday morning Mnuchin told,” we are looking forward to discussions today”.
Chances of a trade agreement have developed as China confronts pressure from decelerating economic growth, and as fainted global markets pose a challenge to the US President and his economic advisors.
Chinese President XI Jinping decides to meet with the Us personnel in Beijing this week, as per the report in the South China Morning Post reinforcing expectations for the discussions and the world markets.