According to reporters, Chinese and U.S. negotiators are aim at working out a broad framework for a trade deal which could be hammered out at a possible summit between the two countries’ leaders.
Two parties are seeking to reduce the trade gap, China is willing to make changes, but the concession still has a big difference with what the Trump administration can accept. On Monday both sides Mid-level officials began to discuss at China’s commerce ministry . Then, start from Thursday, a high-level U.S. delegation led by U.S. trade representative Robert Lighthizer and Treasury secretary Steven Mnuchin will hold two days meeting with Chinese vice premier Liu He and his team.
Based on the reportors two sides hope to reach a framework agreement, and when U.S. President Donald trump meets with Chinese President xi jinping could finalize the agreement. However, last week Mr Trump seems like will not have the chance to meet Mr Xi before the March 1 when the agreement should be finished that day, before this, he had a plan to meet with Mr. Xi.
If the agreement could not be reached by March 1 or get a an extension of the deadline to achieve the agreement, tariffs on $200 billionChinese goods will be raised from 10 percent to 25 percent from 00:01 am March 2.