Trade talks between the US and China have broken up without a deal, with the US warning that “very difficult issues” remain unresolved. The talks in China this week were aimed at securing a new deal before further US tariffs are imposed on 1 March. China said negotiations would now continue in the US next week.
United States and Chinese negotiators kicked off two days of official trade talks in Beijing on Thursday as the world's top two economies try to patch up their festering economic dispute. Pressure to seal an accord ahead of a March deadline lessened before the talks as US President Donald Trump indicated on Tuesday in Washington he was open to extending a trade truce, depending on progress in Beijing.
United States president Donald Trump said on Tuesday he would consider extending the deadline for a trade deal with China beyond March first.
China iron ore futures rose to a record on Monday, the first session after a week-long national holiday, on concerns that supply from Brazil, the country’s second-largest ore supplier, may decline after a fatal dam accident at a Vale mine.
United States negotiators are preparing to press China next week on longstanding demands that it reform how it treats American companies’ intellectual property in order to seal a trade deal that could prevent tariffs from rising on Chinese imports.
President Donald Trump said on Thursday he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline set by the two countries to achieve a trade deal.
Jaguar Land Rover booked a loss for the last three months of 2018 as sales collapsed in China. The company booked a £3.1bn reduction in the value of its plants and other investments leading to a £3.4bn quarterly loss, its biggest to date.
United Nations trade official has warned a US plan to raise tariffs on Chinese goods next month would have massive implications for the global economy. The US plans to increase tariffs on Chinese goods if the two sides fail to make progress on a trade deal by 1 March.
UN Secretary-General Antonio Guterres on Monday extended his warm wishes for the Chinese Lunar New Year, or Spring Festival. In a video message, Guterres thanked China and the Chinese people for their commitment to the United Nations and called for efforts to build a peaceful and prosperous world.
Chinese New Year or 'Spring Festival' is China's most important festival and holiday time. Chinese New Year 2019 falls on Tuesday, February 5, 2019, beginning a year of the Pig. China's public holiday will be February 4–10, 2019.