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China Trade Talks Extended as Trump Pushes to Close the Deal



WASHINGTON-President Trump, citing the progress of US-China trade deals, says he is looking at expanding a deadline to raise the tariffs and hoping to meet next month with China's chief Xi Jinping to complete a broad trade agreement.

Oval Office comments followed the four-day talks between US and Chinese negotiators, extended by Mr. Trump at the weekend. "We have great conversations, and there's a chance that something exciting can happen," he said.

Among the good things Mr Trump mentioned is an agreement in Beijing to prevent manipulation of money, called Treasury Secretary Steven Mnuchin "One of the strongest money deals."

But no man or Chinese Premier Premier Liu He gave any deal details. However, none of the officials gathered at the Oval office have offered any details to back up their assertions of progress.

China hawks in the business community, the administration and the Congress say they are disturbed by what they see as Mr. Trump's growing pessimism for a deal, and urges him to stand firm and insist that China make major changes to its industry policies.

"I am encouraged by signs of growth, but remains concerned that the president will accept a fast offer of procurement of US goods rather than major reforms to China's problem systems, "says Rep. Bill Pascrell Jr., a New Jersey Democrat.

People have told the details of talks that both sides have said that remain away from key issues related to the discussions: Chinese texts to US companies to transfer their technology to partners Chinese; subsidies for state-owned companies of the Chinese; and protection of intellectual property. The two sides remain deadlocked on how to enforce any agreement.

U.S. Trade representative Robert Lighthizer said progress was made on undefined structural issues but cautioned that some of the "big" barriers would remain before a deal was reached. "It's early on for champagne," Commerce Secretary Wilbur Ross added.

U.S. and Chinese businessmen continue to engage in trade talks as a March 1

deadline to reach a close deal. Is an agreement to end the trading horizon on the horizon? Gerald F. Seib of WSJ explained. Photo: Getty

Michael Wessel, a commissioner of a panel of congresses in China, advising the Trump trade team, said that 2020 of political presidenties are behind the move. Trump to balance a deal. "It looks like the Chinese have taken the president to back down a bit," said Mr. Wessel. "Perhaps they will meet the most difficult public issues that may arise before the 2020 elections and manage relations until that time. The Chinese do not want to be an issue in the elections."

talks came as Mr Trump should decide whether to extend a deadline on March 1 to reach an agreement, which will prevent 10% of the tariff of $ 200 billion in Chinese imports from jumping to 25% at 12:01 pm morning. Said Mr. Trump made him feel sorry for an extension of "another month or so or less."

He also said that "maybe" to see Mr. Xi in his Mar-a-Lago estate in Palm Beach, Fla. , later later next month.

By the end of the week, the Hudson Institute, China's scholar Michael Pillsbury, said the US will force Chinese negotiators to be certain. "The White House is hoping that the Chinese will actually agree on detailed descriptions of a meaningful agreement," he said.

A concession mentioned by the administration is a promise by China to buy an additional 10 million metric tons of soybeans in the US. That amount represents nearly one-third of China's entire import soybean in 2017, according to statistics by the US Department of Agriculture. Agency officials do not promptly recommend any time for new China-approved buys.

Mr. Trump initiated the idea that broad-based talks could be extended to include telecommunications companies in China Huawei Technologies Co. and

ZTE
Corp.

, faced with a significant US analysis The US forced allies to avoid Huawei's security issues and ordered the arrest in December of Meng Wanzhou, its chief financial officer, for allegedly violating the grievances a US sanctions on Iran.

"We may or may not put that into a trade agreement, Mr. Trump said, adding any decision was made with Attorney General William Barr.

In the issue of money, people with knowledge of the negotiations say Beijing has a promise to keep the yuan stable and unobtrusive to give a check on foreign markets It was China's policy for some time.

"The art of negotiations is to accept the things you do not value, while making a big fiber on it, "said Robin Brooks, chief economist at the Washington-based Institute of International Finance, a trade association of large banks." Any promise of China to keep the yuan is stable as part of the trade deal is exactly this. "

It is also clear from any promise of money made by Bei Jing can be enforced by trade sanctions. For example, a deal of settlements in exchange for a North American Free Trade Agreement, for example, has made such a promise not being binding.

The central bank of China maintains a tight yuan control over the years of promises to make the market more money-driven. Over the last year, it seeks to keep the yuan from falling too fast, because fears that are too sharp in a depreciation can lead to excessive capital outflows, potentially destabilizing a financial system that is fighting against increasing debt woes.

The expected deal also reflects a growing divide between Mr Trump and Mr Lighthizer, people say that they are familiar with the deliberations of the administration. Last year, Mr. recommended successfully. Lighthizer to Mr. Trump that he imposes tariffs on Chinese goods in the protests of Mr. Mnuchin.

But after the stock market that nose-dived in the last fall, Mr Trump's appetite for a tariff-fighting in China has been reduced, says administration officials. Recently, the role of the US Representative Trade produces gratitude for those appearing on television or press calling for the administration to take a more severe stand on China.

"Lighthizer has previously acquired his way by mastering the inside of the game," says Gene Sperling, a former senior economic official in the administration of Clinton and Obama, who has negotiated deals with trade of China. "As Trump gets more eager for any deal, he is now forced to play an outing game to keep the pressure on."

During the Oval Office session with his cabinet secretaries and Mr. Liu, the president cut off. Lighthizer when he starts discussing the prospect of trading as a memorandum of understanding.

"I do not agree," Trump replied. "I think an MOU is not a contract until we want … For me, the last contract is really something, Bob. For me, MOUs do not mean anything." "[19659004] Mr Trump's language reflects Thursday's criticism of MOU on Thursday night by Lou Dobbs, Fox Business host who has influence on the president and his major supporters. "The MOU is not equal to it's written here, "said Mr. Dobbs.

" Trump's words came out of Lou Dobbs's night last night, "said Trump's counselor." If you're 2020 people in the campaign, you want to protect Trump from in a attack from the right. "

Write to Bob Davis at bob.davis@wsj.com and Lingling Wei on the lingling .wei @ wsj.com


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