Featured Politics News World News

U.S.-China trade talks move to higher level as deadline looms

By Olaleke ASHAFA

The United States Treasury Secretary Steven Mnuchin on Thursday said he was looking forward to serious trade talks with China to end deadlock.

Reports say, discussions in Beijing moved to a higher level in a push to de-escalate a tariff war ahead of a March 1 deadline for a deal.

The talks, scheduled to run through Friday, follow three days of deputy-level meetings to work out technical details, including a mechanism for enforcing any trade agreement.

“Looking forward to discussions today,” Mnuchin told newsmen without elaborating as he left his hotel.

He and U.S. Trade Representative partner, Robert Lighthizer opened the meetings shortly afterward at the Diaoyutai State Guest House with Chinese Vice Premier Liu He, the top economic adviser to Chinese President Xi Jinping.

U.S. tariffs on 200 billion dollars worth of imports from China are scheduled to rise to 25 per cent from 10 per cent if the two sides do not reach a deal by the deadline, increasing pressure and costs in sectors from consumer electronics to agriculture.

U.S. President Donald Trump told newsmen on Wednesday that the negotiations had been progressing “very well”.

Trump’s advisors have described March 1 as a “hard deadline”, and the president has said a delay was possible though he preferred not to do so.

Reports say Trump was considering pushing back the deadline by 60 days to give negotiators more time.

Countering that, Hu Xijin, the editor-in-chief of China’s nationalist Global Times tabloid, tweeted that speculation on an extension was “inaccurate”, citing a source close to talks.

Chinese Commerce Ministry’s Spokesman Gao Feng told newsmen that no information on the trade talks’ progress, but promised to release information once there is any update.—–Reuters

 

Related posts

FIIRO unveils solar boiler, mobile garri processor

Editor

Ex-CDS murder: Six sentenced for absconding from Badeh’s convoy

Our Reporter

Do not switch off the AIS in Nigerian waters, NNPC warns

Abisola THOMPSON 

44 jihadists found dead in Chad prison: prosecutor

Our Reporter

EFCC secures 2,210 convictions in eight months

Our Reporter

China to open wider trade relations with Nigeria — Chinese envoy

By Shile GIWA