White House's Kudlow says U.S.-China talks making progress, could extend

China's Vice Premier Liu He gestures with US Treasury Secretary Steven Mnuchin as US Trade Representative Robert Lighthizer looks on as they pose for

China's Vice Premier Liu He gestures with US Treasury Secretary Steven Mnuchin as US Trade Representative Robert Lighthizer looks on as they pose for

The two countries had originally hoped to reach an agreement by March 1, but even as the negotiations have extended well beyond that date, Trump and his economic advisers say the discussions are progressing. The current round of talks is scheduled to go through Friday and possibly longer.

While both sides have praised the potential benefits of a deal, critics have raised concerns that compelling Chinese firms to buy from United States firms could cause these American firms to become dependent on Chinese markets.

US stocks rose on Thursday amid progress in resolving the trade tensions.

Top officials are still haggling over how to enforce the deal.

Analysts say China and the U.S. could decide to extend the negotiations, possibly until the G20 summit in Japan at the end of June, if talks don't end in a resolve. Even with a deal, Adams said, "a lot of the underlying issues will still be with us unresolved because they're rooted in fundamental differences between the U.S. and Chinese systems".

But srsly ... pretty soon we'll be getting comments from President Trump. "President Xi Jinping also looks forward to maintaining communication with President Trump through various ways".

The U.S. leader said his new trade deal with Canada and Mexico is also advancing, although Congress has yet to ratify the pact.

Liu met with the president after two days of talks between Chinese and American trade negotiators in Washington.

Under the proposed agreement, China would commit by 2025 to buy more USA commodities, including soybeans and energy products, and allow 100 per cent foreign ownership for American companies operating in China as a binding pledge that can trigger retaliation if left unfulfilled, according to the people, who asked not to be identified because the talks are private.

US officials favour tariffs as a way to maintain leverage on China and ensure those obligations are met.

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Mr Trump wants China to buy more American exports and has already won Beijing's assurances it will do so.

High-level talks that began in Beijing last week are continuing this week in Washington.

China's Commerce Ministry didn't immediately reply to faxed questions.

The White House is particularly focused on Chinese purchases of American goods through the second quarter of 2020, in an effort to narrow the trade balance ahead of Trump's re-election bid.

She was charged with illegal entering and lying to USA agents.

Asked about the benefits of an agreement for China, Trump said: "It's going to be great for China, in that China will continue to trade with the United States".

"We're covering issues that have never really been covered before, including enforcement", Kudlow said, listing USA accusations that Beijing engages in intellectual property theft, forced transfer of technology from USA companies doing business in China, cyber hacking, tariffs and non-tariff barriers for commodity trading.

A final number for the amount of purchases has not been settled, the person said.

For months, the two sides have sought to negotiate a trade deal to end the punitive tariffs.

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