World shares mixed after Trump says no plans for Xi meeting

Share
World shares mixed after Trump says no plans for Xi meeting

US President Donald Trump said on Thursday that it was "unlikely" he would meet with his Chinese counterpart Xi Jinping before a crucial March deadline, a significant change in the prospects for ending a trade war that has roiled the global economy.

Mr Trump responded "no" and shook his head on Thursday when reporters at the White House asked him if he would meet Mr Xi this month. Officials on both sides had said the two presidents were scheduled to be face-to-face later in February but now, CNBC says a meeting before the March 2nd deadline is unlikely.

U.S. Treasury Secretary Stephen Mnuchin and trade representative Robert Lighthizer are to lead a delegation to Beijing next week for the next round of trade talks.

While the United States has said it is a hard deadline for the tariffs, Mr Trump has also suggested he could agree to extend negotiations beyond the month's end if progress is made. The broad S&P 500 index shed 0.9 percent to 2,706.05.

Trump said last week he would meet Xi again to finalise the final deal.

Last week, Trump and Chinese officials held the second round of talks in Washington but they released few details about progress in their talks.

"I could see where that would impact the markets because, obviously, we had a lift in the month of January from optimism surrounding these trade talks", said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois. The benchmark 10-year yield slid four basis points to 2.66 percent, the lowest in almost a week.

ENERGY: U.S. crude oil lost 21 cents to $52.43 per barrel in electronic trading on the New York Mercantile Exchange.

One senior administration official said the decision not to go ahead with a meeting between Xi and Trump before March 1 should not be read as a sign the talks were breaking down.

The U.S. agreed to suspend its plans to raise tariffs on $200 billion of Chinese goods to 25% from 10% to give negotiators a chance to settle issues. "They're making a mistake because they need to be prepared", he said. They include US demands that China boost imports of USA products, and Chinese government and corporate pressure on US firms to transfer their technology to Chinese partners.

The United States is pressing China to make major reforms, including on structural issues related to how it treats US companies doing business there.

While China has offered to buy more United States soybeans and beef, officials have yet even to agree on a draft of a deal that would address key USA concerns, according to media reports.

But top White House economist Larry Kudlow told Fox Business on Thursday that while Trump was "optimistic" about prospects for a deal, there remained a "sizeable distance" separating the two sides. Three sources familiar with the matter indicated that report was wrong.

Share

Advertisement

Related Posts

Elizabeth Warren Officially Announces 2020 Presidential Run
The campaign launch comes at a challenging moment for Warren. "That's a fundamental promise of America", she said. President Trump has often taunted Warren, dubbing her " Pocahontas " to mock her heritage claims.

Barcelona News: Lionel Messi Conveyed through PSG Star Neymar that Real Madrid is a Bombshell
Although they have lost the trophy to Barcelona in 2015 still they have bounced back to win the game in 2016 and 2017. Also, Youri Djorkaeff claims that PSG would definitely scoop the trophy if they could put Madrid to the sword.

Backed Syria force announces ‘final battle’ against ISIS
SDF spokesman Mustafa Bali told AFP that "the battle has started", following the week-long pause in fighting. At least 48 suspected ISIS members were among them, according to the Syrian Observatory for Human Rights.

Mexico Border Arrests Fall in January, 2nd Straight Drop
He is also giving an ultimatum to the federal government - remove the wire or there will be lawsuit, The Associated Press reports. CBP said it would release more information later Friday, but additional details had not been released by mid-afternoon.

First Oppo F11 Pro render confirms camera setup and full-screen design
As per the source, the Oppo F11 Pro would feature a MediaTek P70 SoC paired with 6GB of RAM and 128GB of internal storage . The page also reveals that the handset will offer an in-display fingerprint sensor.

Tonight's UFC 234 Main Event Scrapped, Former Champion Elevated Into Headline Fight
Evidently, Whittaker began complaining of pain in his abdomen during the middle of the night and was taken to the hospital.

3 Secrets of Innovation Development by Max Polyakov
Also, the investor should never forget that even the biggest amount of invested resources doesn’t guarantee a success. One of the recent examples is the mass closing of brick-and-mortar shops in the USA because of Amazon’s popularity.

Justice is served as new Judge Dredd figure preorders are now open
Despite the hefty price tag of $799.99, there is a 15% discount available for customers who pay in full or opt into a payment plan.

Tata Motors share drops 14% after weak Q3 result
However, the consolidated revenue for the quarter rose by 5 per cent to Rs 77,001 crore in the year-on-year period. The company had reported a net profit of Rs 1,214.6 crore in the October-December quarter of 2017-18.

India rebuts China on Modi’s visit to Arunachal
In Nov 2017, China had attacked President Ram Nath Kovind over his visit to north-eastern state . Rs 4,000 crore in the border state .

© 2015 ExpressNewsline. All Rights reserved.