Trade war: Trump ‘could extend’ deadline for deal with China

US President Donald Trump has said he could expand the 1 March deadline to reach a trade deal with China if they are making good progress.

Chinese and US officials will hold high level discussions this week aimed at stopping their damaging trade war.

US officials said 1 March was a difficult deadline for achieving a bargain to prevent additional tariffs.

Both countries have levied duties on billions of dollars worth of one another’s goods.

Deputy-level talks began that week in Beijing. High level discussions, led by US Treasury Secretary Steven Mnuchin along with Chinese Vice Premier Liu He, are expected to begin on Thursday because both sides rush to make progress before the 1 March deadline.

“If we’re close to a deal at which we presume we can make a real deal and it is going to have completed, I can see myself letting that slip for a little while,” Mr Trump said referring to the March 1 deadline.”

“But generally speaking, I’m not inclined to do that.”

The US has levied tariffs on $250bn (#193bn) worth of Chinese goods, also China has retaliated by imposing duties on $110bn of all US services and products.

In December, both states agreed to halt fresh tariffs to get ninety days to enable discussions.

The US has said it will increase prices about $200bn worth of Chinese imports from 10 percent to 25% if the two sides do not strike a bargain by 1 March.

Mr Trump has also threatened further tariffs on an additional $267bn worth of Chinese goods.

Washington is pressing on Beijing to make modifications to its economic policies, which it says unfairly favour domestic businesses through subsidies and other aid.

It has also accused the government of supporting technology thieving within its wider development strategy, while in China there’s a sense that the US has been using the trade war to feature the nation’s increase.

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