Today, Donald Trump, the President of the United States of America, said that a deal with Beijing to end a trade dispute between the two nations was coming along nicely, with the negotiators of the United States poised to be in China next week to take part in more discussions.
Both Beijing and Washington have imposed import duties on hundreds of billions of dollars worth of each other’s products. The eight-month trade war between the two largest economies in the world has increased costs, affected financial markets, shrunk the farm exports of the United States, and disrupted manufacturing supply chains.
President Trump said to some reporters at the White House: “The deal is coming along nicely.” He added that the top negotiators of the United States are scheduled to go to China this weekend “to further the deal.”
When asked about lifting the tariffs imposed on China, Trump stated: “We’re not talking about removing them. We’re talking about leaving them for a substantial period of time because we have to make sure that if we do the deal, China abides by it.” He did not elaborate further.
Later, during his speech in Lima, Ohio, Trump again emphasized that he wanted the United States to come up with a “great” trade deal with China.
In remarks made at a tank manufacturing plant, Trump stated: “We’re so far down, it’s got to be a great deal. If it’s not a great deal, you never catch up.”
Last Tuesday, an official of the Trump administration disclosed that Robert Lighthizer, the Trade Representative of the United States, and Steven Mnuchin, the Treasury Secretary, will be in China next week for another round of trade negotiations.
The face-to-face discussions will be the first since President Trump delayed a March 1 deadline to avert an increase in tariffs imposed on $200 billion worth of imports from China to 25 percent from the current 10 percent.