U.S. Cancels Preliminary Meeting With China Ahead of Talks

A CNBC report says the White House turned down a planning meeting with China over disagreements on enforcing intellectual property rules.  U.S. Trade Representative officials were set to meet with two Chinese Vice Ministers to try to help resolve trade differences before a March 1st deadline.  A source close to the situation told CNBC that the meeting was called off.

 

President Trump has said if no agreement is in place by March 1st, he’ll reinforce punitive tariffs on about half of all the goods China sends to America.  The White House told CNBC that “teams from both countries remain in touch ahead of the visit by the Chinese Vice Premiere this week.”  The Treasury Department and the U.S. Trade Representative’s Office both didn’t answer requests for comment by CNBC.

 

White House Economic Adviser Larry Kudlow told CNBC that no meetings were canceled last week and that the only one on the schedule is when the vice premiere comes to Washington, D.C., for official negotiations. Joseph Lupton, a global economist for J.P. Morgan, says, ”I would characterize things as going in the right direction. Last week, China offered an olive branch, saying it would lower tariff rates and would pledge to import up to $1 trillion of U.S. goods by 2024.”

 

 

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