China closing in on deal that may end most U.S. tariffs

US Trade Representative Robert Lighthizer

A spokeswoman for Trump's Council of Economic Advisers declinedcomment on the new papers and referred inquiries to the office of U.S. Trade Representative Robert Lighthizer.

Hassett said the final trade deal would be good for the economies of both China and the U.S.

USA officials said past year the administration was considering sanctions against companies and officials linked to China's crackdown, including Xinjiang Party Secretary Chen Quanguo, a member of the Chinese leadership's powerful politburo.

"25 that he and Chinese President Xi Jinping would engage in a "'signing summit'" as the two nations approach a trade deal, CNN reported. The index has risen nearly 10 percent so far this year.

In Beijing, some Chinese officials and trade experts say they now increasingly anticipate any concessions to fall short of massive changes to China's state-driven economic model sought by the Trump administration.

"Meanwhile, it seems that most of the good news on trade is now priced into asset markets".

The trade war was only one factor affecting the USA economy, Weinstein said, and with the US less exposed to trade than other major Western economies such as Germany, it was not having as much of an impact as it might.

Donald Trump, Kim Jong-Un resume Hanoi summit talks
ET Wednesday, followed by a signing ceremony approximately two hours later, around 2 a.m. Trump says that he considers it "a good idea", adding that it should happen "both ways".

Asked during a congressional hearing last week whether a deal would see a lifting of US tariffs, Robert Lighthizer, the China hawk now leading the talks with Beijing, would say only that was China's desire.

The US has demanded that China make substantial changes to its laws and practices to protect US intellectual property, end forced transfers of US technology to Chinese firms, curb generous industrial subsidies and open the domestic market to US companies. -China trade deal is forming.

On its face, the mechanism looks similar to previous negotiating efforts the US and China used to discuss trade issues-and that the Trump administration said it would abandon because they haven't been successful in getting Beijing to make the required changes to its trade policies. As part of the potential agreement, China would lower tariffs on agricultural products.

But he said that the news of a possible forthcoming agreement between China and the United States, and the opening of the annual session of China's parliament on March 5 could be seen as specific factors driving gains on Monday.

In a statement on Saturday, China said it welcomed the delay.

Beijing has offered to lower tariffs and other restrictions on American farm, chemical, auto and other products and Washington considering removing most, if not all, sanctions levied against Chinese products since previous year, according to the Wall Street Journal.

China is offering to lower tariffs on US farm, chemical, auto and other products, the Journal said, citing people familiar with the situation. The president has twice delayed more than doubling duties on goods to give the two sides more time to strike a broad trade deal. They said Washington would remove most sanctions on Chinese imports.

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