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Donald Trump says he will reach final trade deal with China at summit

The US president said talks were going well but he would need to meet Xi Jinping before an agreement is concluded.

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President Donald Trump (Susan Walsh/AP)

President Donald Trump (Susan Walsh/AP)

President Donald Trump (Susan Walsh/AP)

President Donald Trump, preparing to meet a Chinese trade delegation, has said the United States will not reach any final trade agreement with China until he sits down again with President Xi Jinping.

No final deal will be made until my friend President Xi, and I, meet in the near future,” Mr Trump tweeted.

US and Chinese negotiators on Wednesday opened two days of high-level talks aimed at settling a trade war that has weakened both economies, shaken financial markets and clouded the outlook for global trade.

Mr Trump tweeted that the meetings are “going well with good intent and spirit on both sides”, even though the odds seem stacked against any substantive resolution.

Mr Trump has set a March 2 deadline for increasing tariffs on 200 billion US dollars worth of Chinese imports from 10% to 25%.

He said: “All of the many problems are being discussed and will be hopefully resolved.”

But analysts doubt that the world’s two biggest economies can reach any comprehensive deal over the next month.

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Chinese President Xi Jinping (Ng Han Guan/AP)

Chinese President Xi Jinping (Ng Han Guan/AP)

AP/PA Images

Chinese President Xi Jinping (Ng Han Guan/AP)

The United States is essentially demanding that China downsize its economic aspirations to become a supreme world leader in such fields as robotics and electric cars.

The American delegation is led by US Trade Representative Robert Lighthizer, a longtime critic of aggressive Chinese trade practices and of US policies that failed to blunt them.

The core of the US allegations against China is that Beijing systematically steals trade secrets, forces foreign companies to hand over technology as the price of access to the Chinese market and unfairly subsidises its own tech companies.

PA